EL4R.DE vs. SYB3.DE
EL4R.DE (Deka Deutsche Boerse EUROGOV Germany UCITS ETF) and SYB3.DE (SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF) are both European Government Bonds funds - EL4R.DE tracks the Deutsche Börse EUROGOV® Germany 1-10 while SYB3.DE tracks the Bloomberg Euro 1-3 Year Treasury Bond. Both are passively managed. Over the past 10 years, EL4R.DE returned -0.83%/yr vs 0.18%/yr for SYB3.DE. At a 0.48 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
EL4R.DE vs. SYB3.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 SYB3.DE's 0.06% return. Over the past 10 years, EL4R.DE has underperformed SYB3.DE with an annualized return of -0.83%, while SYB3.DE has yielded a comparatively higher 0.18% 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%
SYB3.DE
- 1D
- 0.04%
- 1M
- 0.02%
- YTD
- 0.06%
- 6M
- 0.22%
- 1Y
- 0.91%
- 3Y*
- 2.60%
- 5Y*
- 0.59%
- 10Y*
- 0.18%
EL4R.DE vs. SYB3.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% |
SYB3.DE SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF | 0.06% | 2.26% | 2.98% | 3.26% | -4.94% | -0.83% | -0.16% | 0.22% | -0.32% | -0.51% |
Correlation
The correlation between EL4R.DE and SYB3.DE is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2011 | 0.48 |
Over the past year, EL4R.DE and SYB3.DE have become more correlated (0.72) than their long-term average of 0.48, meaning their price movements have been converging.
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Return for Risk
EL4R.DE vs. SYB3.DE — Risk / Return Rank
EL4R.DE
SYB3.DE
EL4R.DE vs. SYB3.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 SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF (SYB3.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 | SYB3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.11 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 0.60 | -0.72 |
| Martin ratioReturn relative to average drawdown | -0.29 | 1.86 | -2.15 |
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 | SYB3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | 0.57 | -0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.39 | 0.35 | -0.74 |
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 | -0.31 |
Drawdowns
EL4R.DE vs. SYB3.DE - Drawdown Comparison
The maximum EL4R.DE drawdown since its inception was -18.11%, which is greater than SYB3.DE's maximum drawdown of -7.13%. Use the drawdown chart below to compare losses from any high point for EL4R.DE and SYB3.DE.
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Drawdown Indicators
| EL4R.DE | SYB3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.11% | -7.13% | -10.98% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -1.28% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -2.76% | -1.28% | -1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -5.99% | -10.18% |
Max Drawdown (10Y)Largest decline over 10 years | -18.11% | -7.13% | -10.98% |
Current DrawdownCurrent decline from peak | -11.63% | -0.55% | -11.08% |
Average DrawdownAverage peak-to-trough decline | -4.72% | -1.39% | -3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.41% | +0.58% |
Volatility
EL4R.DE vs. SYB3.DE - Volatility Comparison
Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) has a higher volatility of 1.25% compared to SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF (SYB3.DE) at 0.52%. This indicates that EL4R.DE's price experiences larger fluctuations and is considered to be riskier than SYB3.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 | SYB3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 0.52% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 1.19% | +1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 1.34% | +1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.65% | 1.67% | +2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.74% | 1.48% | +2.26% |
EL4R.DE vs. SYB3.DE - Expense Ratio Comparison
Both EL4R.DE and SYB3.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. SYB3.DE - Dividend Comparison
EL4R.DE's dividend yield for the trailing twelve months is around 1.20%, less than SYB3.DE's 2.28% 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% |
SYB3.DE SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF | 2.28% | 1.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.34% |
Frequently Asked Questions
EL4R.DE and SYB3.DE have a correlation of 0.72, 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 SYB3.DE have the same expense ratio: 0.15% per year.
EL4R.DE tracks Deutsche Börse EUROGOV® Germany 1-10, while SYB3.DE tracks Bloomberg Euro 1-3 Year Treasury Bond. They also come from different issuers: Deka and State Street.
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