EL4R.DE vs. EL4P.DE
EL4R.DE (Deka Deutsche Boerse EUROGOV Germany UCITS ETF) and EL4P.DE (Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF) are both European Government Bonds funds from Deka - EL4R.DE tracks the Deutsche Börse EUROGOV® Germany 1-10 while EL4P.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 7-10. Both are passively managed. Over the past 10 years, EL4R.DE returned -0.81%/yr vs -0.06%/yr for EL4P.DE. A 0.72 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
EL4R.DE vs. EL4P.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4R.DE achieves a 0.83% return, which is significantly lower than EL4P.DE's 1.47% return. Over the past 10 years, EL4R.DE has underperformed EL4P.DE with an annualized return of -0.81%, while EL4P.DE has yielded a comparatively higher -0.06% annualized return.
EL4R.DE
- 1D
- 0.09%
- 1M
- 0.72%
- YTD
- 0.83%
- 6M
- 0.92%
- 1Y
- 0.72%
- 3Y*
- 1.97%
- 5Y*
- -1.55%
- 10Y*
- -0.81%
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%
EL4R.DE vs. EL4P.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4R.DE Deka Deutsche Boerse EUROGOV Germany UCITS ETF | 0.83% | 0.60% | 1.24% | 4.55% | -13.49% | -1.97% | 0.95% | 0.91% | 1.09% | -1.06% |
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% |
Correlation
The correlation between EL4R.DE and EL4P.DE is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2009 | 0.72 |
Over the past year, EL4R.DE and EL4P.DE have become more correlated (0.93) than their long-term average of 0.72, meaning their price movements have been converging.
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Return for Risk
EL4R.DE vs. EL4P.DE — Risk / Return Rank
EL4R.DE
EL4P.DE
EL4R.DE vs. EL4P.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 Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF (EL4P.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.
| EL4R.DE | EL4P.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.07 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 0.45 | -0.15 |
| Martin ratioReturn relative to average drawdown | 0.69 | 1.16 | -0.47 |
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Drawdowns
EL4R.DE vs. EL4P.DE - Drawdown Comparison
The maximum EL4R.DE drawdown since its inception was -18.12%, smaller than the maximum EL4P.DE drawdown of -23.49%. Use the drawdown chart below to compare losses from any high point for EL4R.DE and EL4P.DE.
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Drawdown Indicators
| EL4R.DE | EL4P.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.12% | -23.49% | +5.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -4.09% | +1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -2.76% | -4.43% | +1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -23.13% | +6.96% |
Max Drawdown (10Y)Largest decline over 10 years | -18.12% | -23.49% | +5.37% |
Current DrawdownCurrent decline from peak | -10.87% | -12.62% | +1.75% |
Average DrawdownAverage peak-to-trough decline | -4.20% | -5.57% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.58% | -0.54% |
Volatility
EL4R.DE vs. EL4P.DE - Volatility Comparison
The current volatility for Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) is 0.83%, while Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF (EL4P.DE) has a volatility of 1.28%. This indicates that EL4R.DE experiences smaller price fluctuations and is considered to be less risky than EL4P.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 | EL4P.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 1.28% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 4.13% | -1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 4.93% | -2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.53% | 7.49% | -2.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.57% | 6.06% | -2.49% |
EL4R.DE vs. EL4P.DE - Expense Ratio Comparison
Both EL4R.DE and EL4P.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. EL4P.DE - Dividend Comparison
EL4R.DE's dividend yield for the trailing twelve months is around 1.19%, less than EL4P.DE's 3.59% 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% |
EL4R.DE Deka Deutsche Boerse EUROGOV Germany UCITS ETF | 1.19% | 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
With a correlation of 0.93, EL4R.DE and EL4P.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.
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 EL4P.DE have the same expense ratio: 0.15% per year.
EL4R.DE tracks Deutsche Börse EUROGOV® Germany 1-10, while EL4P.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 7-10.
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