EL4S.DE vs. VGEB.DE
EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) and VGEB.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Distributing) are both European Government Bonds funds - EL4S.DE tracks the Deutsche Börse EUROGOV® Germany 1-3 while VGEB.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, EL4S.DE returned 0.44%/yr vs -1.95%/yr for VGEB.DE. A 0.63 correlation means they provide meaningful diversification when combined. EL4S.DE charges 0.15%/yr vs 0.07%/yr for VGEB.DE.
Performance
EL4S.DE vs. VGEB.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EL4S.DE achieves a 0.45% return, which is significantly lower than VGEB.DE's 1.31% return.
EL4S.DE
- 1D
- 0.04%
- 1M
- 0.32%
- YTD
- 0.45%
- 6M
- 0.50%
- 1Y
- 0.93%
- 3Y*
- 2.40%
- 5Y*
- 0.44%
- 10Y*
- -0.18%
VGEB.DE
- 1D
- 0.09%
- 1M
- 0.95%
- YTD
- 1.31%
- 6M
- 1.40%
- 1Y
- 1.22%
- 3Y*
- 2.49%
- 5Y*
- -1.95%
- 10Y*
- —
EL4S.DE vs. VGEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4S.DE Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF | 0.45% | 1.65% | 2.76% | 2.50% | -4.56% | -0.96% | -0.79% | -0.84% | -0.57% | -0.28% |
VGEB.DE Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 1.31% | 0.67% | 1.53% | 6.85% | -18.24% | -3.27% | 4.71% | 6.82% | 0.97% | -0.51% |
Correlation
The correlation between EL4S.DE and VGEB.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.63 |
The correlation between EL4S.DE and VGEB.DE shifts across timeframes, from 0.63 (all time) to 0.75 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EL4S.DE vs. VGEB.DE — Risk / Return Rank
EL4S.DE
VGEB.DE
EL4S.DE vs. VGEB.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 Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VGEB.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.
| EL4S.DE | VGEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.05 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 0.35 | +0.55 |
| Martin ratioReturn relative to average drawdown | 2.83 | 0.89 | +1.94 |
Loading charts...
Drawdowns
EL4S.DE vs. VGEB.DE - Drawdown Comparison
The maximum EL4S.DE drawdown since its inception was -9.45%, smaller than the maximum VGEB.DE drawdown of -22.41%. Use the drawdown chart below to compare losses from any high point for EL4S.DE and VGEB.DE.
Loading charts...
Drawdown Indicators
| EL4S.DE | VGEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.45% | -22.41% | +12.96% |
Max Drawdown (1Y)Largest decline over 1 year | -1.03% | -3.44% | +2.41% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | -4.06% | +3.03% |
Max Drawdown (5Y)Largest decline over 5 years | -5.86% | -21.50% | +15.64% |
Max Drawdown (10Y)Largest decline over 10 years | -9.45% | — | — |
Current DrawdownCurrent decline from peak | -1.83% | -12.92% | +11.09% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -8.98% | +6.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 1.37% | -1.04% |
Volatility
EL4S.DE vs. VGEB.DE - Volatility Comparison
The current volatility for Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) is 0.28%, while Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VGEB.DE) has a volatility of 1.13%. This indicates that EL4S.DE experiences smaller price fluctuations and is considered to be less risky than VGEB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EL4S.DE | VGEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | 1.13% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 0.98% | 3.55% | -2.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.13% | 4.24% | -3.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.47% | 6.36% | -4.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.13% | 5.53% | -4.40% |
EL4S.DE vs. VGEB.DE - Expense Ratio Comparison
EL4S.DE has a 0.15% expense ratio, which is higher than VGEB.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
EL4S.DE vs. VGEB.DE - Dividend Comparison
EL4S.DE's dividend yield for the trailing twelve months is around 1.48%, less than VGEB.DE's 2.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGEB.DE Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 2.88% | 2.88% | 2.56% | 1.83% | 0.48% | 0.08% | 0.15% | 0.51% | 0.56% | 0.09% | 0.00% | 0.00% |
Frequently Asked Questions
EL4S.DE and VGEB.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEB.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEB.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for EL4S.DE.
EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3, while VGEB.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: Deka and Vanguard. Their fees differ too: 0.15% for EL4S.DE and 0.07% for VGEB.DE.
Find the right allocation for EL4S.DE and VGEB.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer