EL4R.DE vs. VGOV.DE
EL4R.DE (Deka Deutsche Boerse EUROGOV Germany UCITS ETF) and VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) are both European Government Bonds funds - EL4R.DE tracks the Deutsche Börse EUROGOV® Germany 1-10 while VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, EL4R.DE returned -1.76%/yr vs -5.47%/yr for VGOV.DE. A 0.63 correlation means they provide meaningful diversification when combined. EL4R.DE charges 0.15%/yr vs 0.07%/yr for VGOV.DE.
Performance
EL4R.DE vs. VGOV.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 VGOV.DE's -0.51% 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%
VGOV.DE
- 1D
- 0.07%
- 1M
- 0.49%
- YTD
- -0.51%
- 6M
- -0.16%
- 1Y
- -0.62%
- 3Y*
- 2.00%
- 5Y*
- -5.47%
- 10Y*
- —
EL4R.DE vs. VGOV.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% | -0.35% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | -0.51% | 0.18% | -0.21% | 5.44% | -30.78% | 1.88% | 2.84% | 13.71% | -1.09% | 2.53% |
Correlation
The correlation between EL4R.DE and VGOV.DE is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.63 |
The correlation between EL4R.DE and VGOV.DE has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.
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Return for Risk
EL4R.DE vs. VGOV.DE — Risk / Return Rank
EL4R.DE
VGOV.DE
EL4R.DE vs. VGOV.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 Vanguard UK Gilt UCITS ETF Distributing (VGOV.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 | VGOV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.99 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | -0.13 | +0.01 |
| Martin ratioReturn relative to average drawdown | -0.29 | -0.29 | 0.00 |
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 | VGOV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | -0.08 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.39 | -0.42 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.24 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | -0.13 | +0.37 |
Drawdowns
EL4R.DE vs. VGOV.DE - Drawdown Comparison
The maximum EL4R.DE drawdown since its inception was -18.11%, smaller than the maximum VGOV.DE drawdown of -40.95%. Use the drawdown chart below to compare losses from any high point for EL4R.DE and VGOV.DE.
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Drawdown Indicators
| EL4R.DE | VGOV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.11% | -40.95% | +22.84% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -5.37% | +2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -2.76% | -9.01% | +6.25% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -40.45% | +24.28% |
Max Drawdown (10Y)Largest decline over 10 years | -18.11% | — | — |
Current DrawdownCurrent decline from peak | -11.63% | -30.35% | +18.72% |
Average DrawdownAverage peak-to-trough decline | -4.72% | -16.60% | +11.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 2.35% | -1.36% |
Volatility
EL4R.DE vs. VGOV.DE - Volatility Comparison
The current volatility for Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) is 1.25%, while Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) has a volatility of 3.34%. This indicates that EL4R.DE experiences smaller price fluctuations and is considered to be less risky than VGOV.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 | VGOV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 3.34% | -2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 6.15% | -3.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 7.99% | -4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.65% | 12.87% | -8.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.74% | 11.86% | -8.12% |
EL4R.DE vs. VGOV.DE - Expense Ratio Comparison
EL4R.DE has a 0.15% expense ratio, which is higher than VGOV.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. VGOV.DE - Dividend Comparison
EL4R.DE's dividend yield for the trailing twelve months is around 1.20%, less than VGOV.DE's 4.59% 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% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.59% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 0.27% | 0.00% | 0.00% |
Frequently Asked Questions
EL4R.DE and VGOV.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGOV.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGOV.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 VGOV.DE tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: Deka and Vanguard. Their fees differ too: 0.15% for EL4R.DE and 0.07% for VGOV.DE.
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