EL4R.DE vs. DBXP.DE
EL4R.DE (Deka Deutsche Boerse EUROGOV Germany UCITS ETF) and DBXP.DE (Xtrackers Eurozone Government Bond 1-3 UCITS ETF) are both European Government Bonds funds - EL4R.DE tracks the Deutsche Börse EUROGOV® Germany 1-10 while DBXP.DE tracks the iBoxx® EUR Eurozone 1-3. Both are passively managed. Over the past 10 years, EL4R.DE returned -0.83%/yr vs 0.22%/yr for DBXP.DE. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
EL4R.DE vs. DBXP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4R.DE achieves a -0.04% return, which is significantly lower than DBXP.DE's 0.04% return. Over the past 10 years, EL4R.DE has underperformed DBXP.DE with an annualized return of -0.83%, while DBXP.DE has yielded a comparatively higher 0.22% annualized return.
EL4R.DE
- 1D
- 0.08%
- 1M
- -0.00%
- YTD
- -0.04%
- 6M
- -0.14%
- 1Y
- 0.07%
- 3Y*
- 1.66%
- 5Y*
- -1.76%
- 10Y*
- -0.83%
DBXP.DE
- 1D
- 0.04%
- 1M
- -0.01%
- YTD
- 0.04%
- 6M
- 0.14%
- 1Y
- 0.89%
- 3Y*
- 2.61%
- 5Y*
- 0.67%
- 10Y*
- 0.22%
EL4R.DE vs. DBXP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4R.DE Deka Deutsche Boerse EUROGOV Germany UCITS ETF | -0.04% | 0.60% | 1.24% | 4.55% | -13.39% | -2.08% | 0.94% | 0.91% | 1.03% | -1.08% |
DBXP.DE Xtrackers Eurozone Government Bond 1-3 UCITS ETF | 0.04% | 2.21% | 2.99% | 3.41% | -4.59% | -0.85% | -0.18% | 0.17% | -0.37% | -0.45% |
Correlation
The correlation between EL4R.DE and DBXP.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since May 8, 2009 | 0.43 |
Over the past year, EL4R.DE and DBXP.DE have become more correlated (0.77) than their long-term average of 0.43, meaning their price movements have been converging.
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Return for Risk
EL4R.DE vs. DBXP.DE — Risk / Return Rank
EL4R.DE
DBXP.DE
EL4R.DE vs. DBXP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) and Xtrackers Eurozone Government Bond 1-3 UCITS ETF (DBXP.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.
| EL4R.DE | DBXP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.13 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 0.64 | -0.76 |
| Martin ratioReturn relative to average drawdown | -0.29 | 2.08 | -2.36 |
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
| EL4R.DE | DBXP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | 0.65 | -0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.39 | 0.40 | -0.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.24 | 0.12 | -0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.56 | -0.32 |
Drawdowns
EL4R.DE vs. DBXP.DE - Drawdown Comparison
The maximum EL4R.DE drawdown since its inception was -18.11%, which is greater than DBXP.DE's maximum drawdown of -6.77%. Use the drawdown chart below to compare losses from any high point for EL4R.DE and DBXP.DE.
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Drawdown Indicators
| EL4R.DE | DBXP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.11% | -6.77% | -11.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -1.24% | -1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -2.76% | -1.24% | -1.52% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -5.67% | -10.50% |
Max Drawdown (10Y)Largest decline over 10 years | -18.11% | -6.77% | -11.34% |
Current DrawdownCurrent decline from peak | -11.63% | -0.55% | -11.08% |
Average DrawdownAverage peak-to-trough decline | -4.72% | -1.00% | -3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.39% | +0.60% |
Volatility
EL4R.DE vs. DBXP.DE - Volatility Comparison
Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) has a higher volatility of 1.25% compared to Xtrackers Eurozone Government Bond 1-3 UCITS ETF (DBXP.DE) at 0.46%. This indicates that EL4R.DE's price experiences larger fluctuations and is considered to be riskier than DBXP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL4R.DE | DBXP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 0.46% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 1.11% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 1.22% | +1.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.65% | 1.65% | +3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.74% | 1.80% | +1.94% |
EL4R.DE vs. DBXP.DE - Expense Ratio Comparison
Both EL4R.DE and DBXP.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
EL4R.DE vs. DBXP.DE - Dividend Comparison
EL4R.DE's dividend yield for the trailing twelve months is around 1.20%, while DBXP.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBXP.DE Xtrackers Eurozone Government Bond 1-3 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EL4R.DE Deka Deutsche Boerse EUROGOV Germany UCITS ETF | 1.20% | 1.12% | 0.66% | 0.26% | 0.16% | 0.25% | 0.35% | 0.62% | 0.74% | 1.62% | 2.14% | 2.60% |
Frequently Asked Questions
EL4R.DE and DBXP.DE have a correlation of 0.77, 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.
EL4R.DE and DBXP.DE have the same expense ratio: 0.15% per year.
EL4R.DE tracks Deutsche Börse EUROGOV® Germany 1-10, while DBXP.DE tracks iBoxx® EUR Eurozone 1-3. They also come from different issuers: Deka and Xtrackers.
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