EL4R.DE vs. EL4X.DE
EL4R.DE (Deka Deutsche Boerse EUROGOV Germany UCITS ETF) and EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) are both exchange-traded funds - EL4R.DE is a European Government Bonds fund tracking the Deutsche Börse EUROGOV® Germany 1-10, while EL4X.DE is a Europe Equities fund tracking the DAXplus® Maximum Dividend. Both are passively managed. Over the past 10 years, EL4R.DE returned -0.81%/yr vs 3.27%/yr for EL4X.DE. At a correlation of -0.17, they often move in opposite directions. EL4R.DE charges 0.15%/yr vs 0.30%/yr for EL4X.DE.
Performance
EL4R.DE vs. EL4X.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 EL4X.DE's 6.52% return. Over the past 10 years, EL4R.DE has underperformed EL4X.DE with an annualized return of -0.81%, while EL4X.DE has yielded a comparatively higher 3.27% 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%
EL4X.DE
- 1D
- 0.44%
- 1M
- -1.28%
- YTD
- 6.52%
- 6M
- 7.70%
- 1Y
- 8.71%
- 3Y*
- 9.77%
- 5Y*
- 2.63%
- 10Y*
- 3.27%
EL4R.DE vs. EL4X.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% |
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 6.52% | 14.14% | -1.45% | 26.37% | -20.07% | 9.05% | -2.95% | 11.71% | -18.87% | 5.70% |
Correlation
The correlation between EL4R.DE and EL4X.DE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2009 | -0.17 |
The correlation between EL4R.DE and EL4X.DE shifts across timeframes, from -0.17 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EL4R.DE vs. EL4X.DE — Risk / Return Rank
EL4R.DE
EL4X.DE
EL4R.DE vs. EL4X.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 DAXplus Maximum Dividend UCITS ETF (EL4X.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 | EL4X.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.11 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 0.88 | -0.58 |
| Martin ratioReturn relative to average drawdown | 0.69 | 1.89 | -1.20 |
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Drawdowns
EL4R.DE vs. EL4X.DE - Drawdown Comparison
The maximum EL4R.DE drawdown since its inception was -18.12%, smaller than the maximum EL4X.DE drawdown of -52.91%. Use the drawdown chart below to compare losses from any high point for EL4R.DE and EL4X.DE.
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Drawdown Indicators
| EL4R.DE | EL4X.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.12% | -52.91% | +34.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -9.87% | +7.47% |
Max Drawdown (3Y)Largest decline over 3 years | -2.76% | -16.60% | +13.84% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -34.51% | +18.34% |
Max Drawdown (10Y)Largest decline over 10 years | -18.12% | -52.91% | +34.79% |
Current DrawdownCurrent decline from peak | -10.87% | -2.41% | -8.46% |
Average DrawdownAverage peak-to-trough decline | -4.20% | -12.10% | +7.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 4.60% | -3.56% |
Volatility
EL4R.DE vs. EL4X.DE - Volatility Comparison
The current volatility for Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) is 0.83%, while Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a volatility of 4.66%. This indicates that EL4R.DE experiences smaller price fluctuations and is considered to be less risky than EL4X.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 | EL4X.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 4.66% | -3.83% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 12.17% | -9.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 15.36% | -12.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.53% | 16.91% | -12.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.57% | 18.10% | -14.53% |
EL4R.DE vs. EL4X.DE - Expense Ratio Comparison
EL4R.DE has a 0.15% expense ratio, which is lower than EL4X.DE's 0.30% expense ratio.
Dividends
EL4R.DE vs. EL4X.DE - Dividend Comparison
EL4R.DE's dividend yield for the trailing twelve months is around 1.19%, less than EL4X.DE's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 4.71% | 5.11% | 7.17% | 5.99% | 8.64% | 3.83% | 2.89% | 6.66% | 8.48% | 7.17% | 7.37% | 5.62% |
Frequently Asked Questions
EL4R.DE and EL4X.DE have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4R.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4R.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for EL4X.DE.
EL4R.DE is categorized as European Government Bonds, while EL4X.DE is Europe Equities. EL4R.DE tracks Deutsche Börse EUROGOV® Germany 1-10, while EL4X.DE tracks DAXplus® Maximum Dividend. Their fees differ too: 0.15% for EL4R.DE and 0.30% for EL4X.DE.
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