EL4R.DE vs. EUNH.DE
EL4R.DE (Deka Deutsche Boerse EUROGOV Germany UCITS ETF) and EUNH.DE (iShares Core Euro Government Bond UCITS ETF (Dist)) are both European Government Bonds funds - EL4R.DE tracks the Deutsche Börse EUROGOV® Germany 1-10 while EUNH.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 10 years, EL4R.DE returned -0.83%/yr vs -0.32%/yr for EUNH.DE. A 0.65 correlation means they provide meaningful diversification when combined. EL4R.DE charges 0.15%/yr vs 0.07%/yr for EUNH.DE.
Performance
EL4R.DE vs. EUNH.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 higher than EUNH.DE's -0.06% return. Over the past 10 years, EL4R.DE has underperformed EUNH.DE with an annualized return of -0.83%, while EUNH.DE has yielded a comparatively higher -0.32% 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%
EUNH.DE
- 1D
- 0.04%
- 1M
- -0.08%
- YTD
- -0.06%
- 6M
- 0.09%
- 1Y
- 0.30%
- 3Y*
- 2.35%
- 5Y*
- -2.27%
- 10Y*
- -0.32%
EL4R.DE vs. EUNH.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% |
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | -0.06% | 0.80% | 1.52% | 6.83% | -18.32% | -3.37% | 4.72% | 6.76% | 0.85% | -0.13% |
Correlation
The correlation between EL4R.DE and EUNH.DE is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2009 | 0.65 |
Over the past year, EL4R.DE and EUNH.DE have become more correlated (0.87) than their long-term average of 0.65, meaning their price movements have been converging.
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Return for Risk
EL4R.DE vs. EUNH.DE — Risk / Return Rank
EL4R.DE
EUNH.DE
EL4R.DE vs. EUNH.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 iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.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 | EUNH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.00 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | -0.03 | -0.09 |
| Martin ratioReturn relative to average drawdown | -0.29 | -0.08 | -0.21 |
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 | EUNH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | -0.02 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.39 | -0.35 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.24 | -0.06 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.25 | -0.01 |
Drawdowns
EL4R.DE vs. EUNH.DE - Drawdown Comparison
The maximum EL4R.DE drawdown since its inception was -18.11%, smaller than the maximum EUNH.DE drawdown of -22.43%. Use the drawdown chart below to compare losses from any high point for EL4R.DE and EUNH.DE.
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Drawdown Indicators
| EL4R.DE | EUNH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.11% | -22.43% | +4.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -3.48% | +1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -2.76% | -4.10% | +1.34% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -21.53% | +5.36% |
Max Drawdown (10Y)Largest decline over 10 years | -18.11% | -22.43% | +4.32% |
Current DrawdownCurrent decline from peak | -11.63% | -14.10% | +2.47% |
Average DrawdownAverage peak-to-trough decline | -4.72% | -5.97% | +1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 1.35% | -0.36% |
Volatility
EL4R.DE vs. EUNH.DE - Volatility Comparison
The current volatility for Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) is 1.25%, while iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) has a volatility of 1.72%. This indicates that EL4R.DE experiences smaller price fluctuations and is considered to be less risky than EUNH.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 | EUNH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.72% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 3.70% | -1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 4.37% | -1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.65% | 6.34% | -1.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.74% | 5.52% | -1.78% |
EL4R.DE vs. EUNH.DE - Expense Ratio Comparison
EL4R.DE has a 0.15% expense ratio, which is higher than EUNH.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
EL4R.DE vs. EUNH.DE - Dividend Comparison
EL4R.DE's dividend yield for the trailing twelve months is around 1.20%, less than EUNH.DE's 2.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | 2.49% | 2.30% | 1.77% | 0.97% | 0.27% | 0.24% | 0.47% | 0.65% | 0.66% | 0.70% | 0.94% | 0.62% |
Frequently Asked Questions
EL4R.DE and EUNH.DE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNH.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNH.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for EL4R.DE.
EL4R.DE tracks Deutsche Börse EUROGOV® Germany 1-10, while EUNH.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: Deka and iShares. Their fees differ too: 0.15% for EL4R.DE and 0.07% for EUNH.DE.
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