EL4S.DE vs. 10AL.DE
EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) and 10AL.DE (Amundi Index J.P. Morgan EMU Government Investment Grade UCITS ETF EUR Dist) are both European Government Bonds funds - EL4S.DE tracks the Deutsche Börse EUROGOV® Germany 1-3 while 10AL.DE tracks the JP Morgan EMU Government Bond. Both are passively managed. Over the past 5 years, EL4S.DE returned 0.36%/yr vs -2.19%/yr for 10AL.DE. A 0.63 correlation means they provide meaningful diversification when combined. EL4S.DE charges 0.15%/yr vs 0.14%/yr for 10AL.DE.
Performance
EL4S.DE vs. 10AL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4S.DE achieves a 0.11% return, which is significantly higher than 10AL.DE's 0.10% return.
EL4S.DE
- 1D
- 0.02%
- 1M
- 0.06%
- YTD
- 0.11%
- 6M
- 0.17%
- 1Y
- 0.70%
- 3Y*
- 2.24%
- 5Y*
- 0.36%
- 10Y*
- -0.20%
10AL.DE
- 1D
- 0.07%
- 1M
- 0.02%
- YTD
- 0.10%
- 6M
- 0.14%
- 1Y
- 0.27%
- 3Y*
- 2.33%
- 5Y*
- -2.19%
- 10Y*
- —
EL4S.DE vs. 10AL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EL4S.DE Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF | 0.11% | 1.65% | 2.75% | 2.51% | -4.56% | -0.97% | -0.79% | -0.83% | -0.46% |
10AL.DE Amundi Index J.P. Morgan EMU Government Investment Grade UCITS ETF EUR Dist | 0.10% | 0.67% | 1.54% | 6.66% | -17.93% | -3.35% | 4.91% | 7.30% | 0.46% |
Correlation
The correlation between EL4S.DE and 10AL.DE is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jan 18, 2018 | 0.63 |
The correlation between EL4S.DE and 10AL.DE shifts across timeframes, from 0.63 (all time) to 0.74 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EL4S.DE vs. 10AL.DE — Risk / Return Rank
EL4S.DE
10AL.DE
EL4S.DE vs. 10AL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) and Amundi Index J.P. Morgan EMU Government Investment Grade UCITS ETF EUR Dist (10AL.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.
| EL4S.DE | 10AL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.00 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | -0.03 | +0.61 |
| Martin ratioReturn relative to average drawdown | 1.87 | -0.07 | +1.93 |
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
| EL4S.DE | 10AL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.54 | -0.02 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | -0.35 | +0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.18 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.30 | -0.05 | -0.26 |
Drawdowns
EL4S.DE vs. 10AL.DE - Drawdown Comparison
The maximum EL4S.DE drawdown since its inception was -13.04%, smaller than the maximum 10AL.DE drawdown of -22.08%. Use the drawdown chart below to compare losses from any high point for EL4S.DE and 10AL.DE.
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Drawdown Indicators
| EL4S.DE | 10AL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.04% | -22.08% | +9.04% |
Max Drawdown (1Y)Largest decline over 1 year | -1.03% | -3.42% | +2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | -4.05% | +3.02% |
Max Drawdown (5Y)Largest decline over 5 years | -5.86% | -21.09% | +15.23% |
Max Drawdown (10Y)Largest decline over 10 years | -9.46% | — | — |
Current DrawdownCurrent decline from peak | -6.04% | -13.80% | +7.76% |
Average DrawdownAverage peak-to-trough decline | -5.87% | -8.93% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 1.34% | -1.02% |
Volatility
EL4S.DE vs. 10AL.DE - Volatility Comparison
The current volatility for Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) is 0.44%, while Amundi Index J.P. Morgan EMU Government Investment Grade UCITS ETF EUR Dist (10AL.DE) has a volatility of 1.70%. This indicates that EL4S.DE experiences smaller price fluctuations and is considered to be less risky than 10AL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL4S.DE | 10AL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.44% | 1.70% | -1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 0.97% | 3.57% | -2.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.10% | 4.28% | -3.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.46% | 6.19% | -4.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.12% | 5.51% | -4.39% |
EL4S.DE vs. 10AL.DE - Expense Ratio Comparison
EL4S.DE has a 0.15% expense ratio, which is higher than 10AL.DE's 0.14% 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
EL4S.DE vs. 10AL.DE - Dividend Comparison
EL4S.DE's dividend yield for the trailing twelve months is around 1.48%, less than 10AL.DE's 2.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
10AL.DE Amundi Index J.P. Morgan EMU Government Investment Grade UCITS ETF EUR Dist | 2.66% | 2.66% | 2.02% | 1.85% | 2.21% | 1.81% | 1.89% | 2.10% | 1.67% | 0.00% | 0.00% | 0.00% |
EL4S.DE Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF | 1.48% | 1.20% | 0.83% | 0.60% | 0.88% | 0.94% | 0.78% | 1.06% | 0.99% | 1.63% | 1.46% | 1.60% |
Frequently Asked Questions
EL4S.DE and 10AL.DE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 10AL.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
10AL.DE is cheaper with a 0.14% expense ratio, compared with 0.15% for EL4S.DE.
EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3, while 10AL.DE tracks JP Morgan EMU Government Bond. They also come from different issuers: Deka and Amundi. Their fees differ too: 0.15% for EL4S.DE and 0.14% for 10AL.DE.
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