EL4R.DE vs. XGEZ.DE
EL4R.DE (Deka Deutsche Boerse EUROGOV Germany UCITS ETF) and XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) are both European Government Bonds funds - EL4R.DE tracks the Deutsche Börse EUROGOV® Germany 1-10 while XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. Both are passively managed. Over the past 3 years, EL4R.DE returned 1.97%/yr vs 1.15%/yr for XGEZ.DE. Their correlation of 0.91 suggests significant overlap in exposure. EL4R.DE charges 0.15%/yr vs 0.18%/yr for XGEZ.DE.
Performance
EL4R.DE vs. XGEZ.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 XGEZ.DE's 1.60% 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%
XGEZ.DE
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 1.60%
- 6M
- 1.74%
- 1Y
- 0.26%
- 3Y*
- 1.15%
- 5Y*
- —
- 10Y*
- —
EL4R.DE vs. XGEZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EL4R.DE Deka Deutsche Boerse EUROGOV Germany UCITS ETF | 0.83% | 0.60% | 1.24% | 4.55% | -1.56% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 1.60% | -2.16% | -0.51% | 8.88% | -0.36% |
Correlation
The correlation between EL4R.DE and XGEZ.DE is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2022 | 0.91 |
The correlation between EL4R.DE and XGEZ.DE has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
EL4R.DE vs. XGEZ.DE — Risk / Return Rank
EL4R.DE
XGEZ.DE
EL4R.DE vs. XGEZ.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 Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.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 | XGEZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.01 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 0.06 | +0.24 |
| Martin ratioReturn relative to average drawdown | 0.69 | 0.12 | +0.57 |
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Drawdowns
EL4R.DE vs. XGEZ.DE - Drawdown Comparison
The maximum EL4R.DE drawdown since its inception was -18.12%, which is greater than XGEZ.DE's maximum drawdown of -13.63%. Use the drawdown chart below to compare losses from any high point for EL4R.DE and XGEZ.DE.
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Drawdown Indicators
| EL4R.DE | XGEZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.12% | -13.63% | -4.49% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -4.70% | +2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -2.76% | -7.88% | +5.12% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.12% | — | — |
Current DrawdownCurrent decline from peak | -10.87% | -3.99% | -6.88% |
Average DrawdownAverage peak-to-trough decline | -4.20% | -5.39% | +1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 2.11% | -1.07% |
Volatility
EL4R.DE vs. XGEZ.DE - Volatility Comparison
The current volatility for Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) is 0.83%, while Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a volatility of 1.75%. This indicates that EL4R.DE experiences smaller price fluctuations and is considered to be less risky than XGEZ.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 | XGEZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 1.75% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 5.23% | -2.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 6.42% | -3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.53% | 9.92% | -5.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.57% | 9.92% | -6.35% |
EL4R.DE vs. XGEZ.DE - Expense Ratio Comparison
EL4R.DE has a 0.15% expense ratio, which is lower than XGEZ.DE's 0.18% expense ratio. Despite the difference, 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. XGEZ.DE - Dividend Comparison
EL4R.DE's dividend yield for the trailing twelve months is around 1.19%, less than XGEZ.DE's 2.06% 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% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.06% | 1.99% | 2.07% | 1.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EL4R.DE and XGEZ.DE have a correlation of 0.88, 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 0.18% for XGEZ.DE.
EL4R.DE tracks Deutsche Börse EUROGOV® Germany 1-10, while XGEZ.DE tracks iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. They also come from different issuers: Deka and Xtrackers. Their fees differ too: 0.15% for EL4R.DE and 0.18% for XGEZ.DE.
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