EL4V.DE vs. EL42.DE

Last updated Jul 16, 2026

EL4V.DE (Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF) and EL42.DE (Deka MSCI Europe UCITS ETF) are both exchange-traded funds - EL4V.DE is a European Government Bonds fund tracking the Deutsche Börse EUROGOV Germany 10+ Index, while EL42.DE is a Europe Equities fund tracking the MSCI Europe. Both are passively managed. Over the past 10 years, EL4V.DE returned -3.65%/yr vs 9.30%/yr for EL42.DE. At a correlation of -0.19, they often move in opposite directions. EL4V.DE charges 0.15%/yr vs 0.30%/yr for EL42.DE.

Performance

EL4V.DE vs. EL42.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF (EL4V.DE) and Deka MSCI Europe UCITS ETF (EL42.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EL4V.DE achieves a -0.97% return, which is significantly lower than EL42.DE's 10.70% return. Over the past 10 years, EL4V.DE has underperformed EL42.DE with an annualized return of -3.65%, while EL42.DE has yielded a comparatively higher 9.30% annualized return.

EL4V.DE

• 1D: -0.29%
• 1M: -1.59%
• 6M: -1.93%
• YTD: -0.97%
• 1Y: -3.20%
• 3Y*: -2.20%
• 5Y*: -8.68%
• 10Y*: -3.65%

EL42.DE

• 1D: 0.18%
• 1M: 1.35%
• 6M: 7.36%
• YTD: 10.70%
• 1Y: 20.79%
• 3Y*: 14.47%
• 5Y*: 10.16%
• 10Y*: 9.30%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EL4V.DE vs. EL42.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EL4V.DE Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF	-0.97%	-8.19%	-2.86%	6.90%	-32.41%	-4.81%	7.99%	9.21%	6.28%	-4.39%
EL42.DE Deka MSCI Europe UCITS ETF	10.70%	20.05%	7.78%	15.64%	-9.45%	24.88%	-3.36%	27.34%	-10.95%	10.10%

Correlation

The correlation between EL4V.DE and EL42.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Jun 9, 2009	-0.19

The correlation between EL4V.DE and EL42.DE shifts across timeframes, from -0.19 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EL4V.DE vs. EL42.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EL4V.DE

EL4V.DE Risk / Return Rank: 5
EL4V.DE Sharpe Ratio Rank: 6
EL4V.DE Sortino Ratio Rank: 5
EL4V.DE Omega Ratio Rank: 5
EL4V.DE Calmar Ratio Rank: 5
EL4V.DE Martin Ratio Rank: 5

EL42.DE

EL42.DE Risk / Return Rank: 58
EL42.DE Sharpe Ratio Rank: 59
EL42.DE Sortino Ratio Rank: 61
EL42.DE Omega Ratio Rank: 62
EL42.DE Calmar Ratio Rank: 52
EL42.DE Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EL4V.DE vs. EL42.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF (EL4V.DE) and Deka MSCI Europe UCITS ETF (EL42.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.

	EL4V.DE	EL42.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.42	1.60	-2.03
Sortino ratio: Return per unit of downside risk	-0.54	2.33	-2.87
Omega ratio: Gain probability vs. loss probability	0.94	1.30	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.49	2.16	-2.65
Martin ratio: Return relative to average drawdown	-0.92	8.34	-9.25

EL4V.DE vs. EL42.DE - Sharpe Ratio Comparison

The current EL4V.DE Sharpe Ratio is -0.42, which is lower than the EL42.DE Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of EL4V.DE and EL42.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EL4V.DE vs. EL42.DE - Drawdown Comparison

The maximum EL4V.DE drawdown since its inception was -43.83%, which is greater than EL42.DE's maximum drawdown of -35.83%. Use the drawdown chart below to compare losses from any high point for EL4V.DE and EL42.DE.

Drawdown Indicators

	EL4V.DE	EL42.DE	Difference
Max Drawdown Largest peak-to-trough decline	-43.83%	-35.83%	-8.00%
Max Drawdown (1Y) Largest decline over 1 year	-6.63%	-9.58%	+2.95%
Max Drawdown (3Y) Largest decline over 3 years	-14.80%	-16.41%	+1.61%
Max Drawdown (5Y) Largest decline over 5 years	-40.13%	-19.42%	-20.71%
Max Drawdown (10Y) Largest decline over 10 years	-43.83%	-35.83%	-8.00%
Current Drawdown Current decline from peak	-42.50%	-1.58%	-40.92%
Average Drawdown Average peak-to-trough decline	-13.95%	-5.15%	-8.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	2.49%	+1.09%

Volatility

EL4V.DE vs. EL42.DE - Volatility Comparison

The current volatility for Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF (EL4V.DE) is 2.19%, while Deka MSCI Europe UCITS ETF (EL42.DE) has a volatility of 3.23%. This indicates that EL4V.DE experiences smaller price fluctuations and is considered to be less risky than EL42.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EL4V.DE	EL42.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.19%	3.23%	-1.04%
Volatility (6M) Calculated over the trailing 6-month period	5.85%	10.97%	-5.12%
Volatility (1Y) Calculated over the trailing 1-year period	7.71%	12.92%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.68%	14.20%	-1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.87%	15.15%	-4.28%

EL4V.DE vs. EL42.DE - Expense Ratio Comparison

EL4V.DE has a 0.15% expense ratio, which is lower than EL42.DE's 0.30% expense ratio.

Dividends

EL4V.DE vs. EL42.DE - Dividend Comparison

EL4V.DE's dividend yield for the trailing twelve months is around 2.30%, more than EL42.DE's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EL42.DE Deka MSCI Europe UCITS ETF	2.21%	2.31%	2.64%	2.59%	2.78%	2.08%	1.94%	2.76%	3.41%	2.72%	3.00%	2.69%
EL4V.DE Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF	2.30%	2.06%	2.00%	2.29%	2.45%	1.79%	1.84%	2.06%	2.35%	1.03%	2.57%	2.79%

Frequently Asked Questions

Can I hold both EL4V.DE and EL42.DE in my portfolio?

EL4V.DE and EL42.DE have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EL4V.DE or EL42.DE?

On fees, EL4V.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EL4V.DE or EL42.DE?

EL4V.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for EL42.DE.

What is the main difference between EL4V.DE and EL42.DE?

EL4V.DE is categorized as European Government Bonds, while EL42.DE is Europe Equities. EL4V.DE tracks Deutsche Börse EUROGOV Germany 10+ Index, while EL42.DE tracks MSCI Europe. Their fees differ too: 0.15% for EL4V.DE and 0.30% for EL42.DE.