EL4R.DE vs. IBCA.DE
EL4R.DE (Deka Deutsche Boerse EUROGOV Germany UCITS ETF) and IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) are both European Government Bonds funds - EL4R.DE tracks the Deutsche Börse EUROGOV® Germany 1-10 while IBCA.DE tracks the Bloomberg Euro Government Bond 1-3. Both are passively managed. Over the past 10 years, EL4R.DE returned -0.83%/yr vs 0.36%/yr for IBCA.DE. At a 0.38 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
EL4R.DE vs. IBCA.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 IBCA.DE's 0.16% return. Over the past 10 years, EL4R.DE has underperformed IBCA.DE with an annualized return of -0.83%, while IBCA.DE has yielded a comparatively higher 0.36% 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%
IBCA.DE
- 1D
- 0.06%
- 1M
- 0.09%
- YTD
- 0.16%
- 6M
- 0.30%
- 1Y
- 1.12%
- 3Y*
- 2.71%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
EL4R.DE vs. IBCA.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% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 0.16% | 2.31% | 3.05% | 3.50% | -4.26% | -0.84% | -0.15% | 0.14% | -0.27% | 0.02% |
Correlation
The correlation between EL4R.DE and IBCA.DE is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 8, 2009 | 0.38 |
Over the past year, EL4R.DE and IBCA.DE have become more correlated (0.76) than their long-term average of 0.38, meaning their price movements have been converging.
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Return for Risk
EL4R.DE vs. IBCA.DE — Risk / Return Rank
EL4R.DE
IBCA.DE
EL4R.DE vs. IBCA.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 Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.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 | IBCA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.15 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 0.84 | -0.96 |
| Martin ratioReturn relative to average drawdown | -0.29 | 2.70 | -2.98 |
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 | IBCA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | 0.71 | -0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.39 | 0.52 | -0.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.24 | 0.09 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.25 | 0.00 |
Drawdowns
EL4R.DE vs. IBCA.DE - Drawdown Comparison
The maximum EL4R.DE drawdown since its inception was -18.11%, which is greater than IBCA.DE's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for EL4R.DE and IBCA.DE.
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Drawdown Indicators
| EL4R.DE | IBCA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.11% | -8.31% | -9.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -1.14% | -1.27% |
Max Drawdown (3Y)Largest decline over 3 years | -2.76% | -1.14% | -1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -5.21% | -10.96% |
Max Drawdown (10Y)Largest decline over 10 years | -18.11% | -8.31% | -9.80% |
Current DrawdownCurrent decline from peak | -11.63% | -0.45% | -11.18% |
Average DrawdownAverage peak-to-trough decline | -4.72% | -1.03% | -3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.36% | +0.63% |
Volatility
EL4R.DE vs. IBCA.DE - Volatility Comparison
Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) has a higher volatility of 1.25% compared to iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) at 0.64%. This indicates that EL4R.DE's price experiences larger fluctuations and is considered to be riskier than IBCA.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 | IBCA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 0.64% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 1.27% | +1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 1.36% | +1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.65% | 1.55% | +3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.74% | 3.81% | -0.07% |
EL4R.DE vs. IBCA.DE - Expense Ratio Comparison
Both EL4R.DE and IBCA.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. IBCA.DE - Dividend Comparison
EL4R.DE's dividend yield for the trailing twelve months is around 1.20%, less than IBCA.DE's 2.18% 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% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.45% | 2.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.29% |
Frequently Asked Questions
EL4R.DE and IBCA.DE have a correlation of 0.76, 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 IBCA.DE have the same expense ratio: 0.15% per year.
EL4R.DE tracks Deutsche Börse EUROGOV® Germany 1-10, while IBCA.DE tracks Bloomberg Euro Government Bond 1-3. They also come from different issuers: Deka and iShares.
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