EL4V.DE vs. EL4S.DE
EL4V.DE (Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF) and EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) are both European Government Bonds funds from Deka - EL4V.DE tracks the Deutsche Börse EUROGOV Germany 10+ Index while EL4S.DE tracks the Deutsche Börse EUROGOV® Germany 1-3. Both are passively managed. Over the past 10 years, EL4V.DE returned -3.65%/yr vs -0.20%/yr for EL4S.DE. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
EL4V.DE vs. EL4S.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4V.DE achieves a -0.97% return, which is significantly lower than EL4S.DE's 0.25% return. Over the past 10 years, EL4V.DE has underperformed EL4S.DE with an annualized return of -3.65%, while EL4S.DE has yielded a comparatively higher -0.20% 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%
EL4S.DE
- 1D
- 0.01%
- 1M
- -0.09%
- 6M
- 0.09%
- YTD
- 0.25%
- 1Y
- 0.67%
- 3Y*
- 2.34%
- 5Y*
- 0.40%
- 10Y*
- -0.20%
EL4V.DE vs. EL4S.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% |
EL4S.DE Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF | 0.25% | 1.65% | 2.76% | 2.50% | -4.56% | -0.96% | -0.79% | -0.84% | -0.57% | -1.08% |
Correlation
The correlation between EL4V.DE and EL4S.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2009 | 0.61 |
The correlation between EL4V.DE and EL4S.DE has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.
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Return for Risk
EL4V.DE vs. EL4S.DE — Risk / Return Rank
EL4V.DE
EL4S.DE
EL4V.DE vs. EL4S.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 Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.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 | EL4S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.11 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 0.65 | -1.14 |
| Martin ratioReturn relative to average drawdown | -0.92 | 2.01 | -2.93 |
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Drawdowns
EL4V.DE vs. EL4S.DE - Drawdown Comparison
The maximum EL4V.DE drawdown since its inception was -43.83%, which is greater than EL4S.DE's maximum drawdown of -9.45%. Use the drawdown chart below to compare losses from any high point for EL4V.DE and EL4S.DE.
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Drawdown Indicators
| EL4V.DE | EL4S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -9.45% | -34.38% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -1.03% | -5.60% |
Max Drawdown (3Y)Largest decline over 3 years | -14.80% | -1.03% | -13.77% |
Max Drawdown (5Y)Largest decline over 5 years | -40.13% | -5.86% | -34.27% |
Max Drawdown (10Y)Largest decline over 10 years | -43.83% | -9.43% | -34.40% |
Current DrawdownCurrent decline from peak | -42.50% | -2.03% | -40.47% |
Average DrawdownAverage peak-to-trough decline | -13.95% | -2.17% | -11.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 0.33% | +3.25% |
Volatility
EL4V.DE vs. EL4S.DE - Volatility Comparison
Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF (EL4V.DE) has a higher volatility of 2.19% compared to Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) at 0.33%. This indicates that EL4V.DE's price experiences larger fluctuations and is considered to be riskier than EL4S.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL4V.DE | EL4S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 0.33% | +1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 5.85% | 1.01% | +4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.71% | 1.15% | +6.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.68% | 1.47% | +11.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.87% | 1.13% | +9.74% |
EL4V.DE vs. EL4S.DE - Expense Ratio Comparison
Both EL4V.DE and EL4S.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EL4V.DE vs. EL4S.DE - Dividend Comparison
EL4V.DE's dividend yield for the trailing twelve months is around 2.30%, more than EL4S.DE's 1.49% 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 | 1.49% | 1.20% | 0.83% | 0.60% | 0.88% | 0.94% | 0.78% | 1.06% | 0.99% | 1.63% | 1.46% | 1.60% |
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
EL4V.DE and EL4S.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EL4V.DE and EL4S.DE have the same expense ratio: 0.15% per year.
EL4V.DE tracks Deutsche Börse EUROGOV Germany 10+ Index, while EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3.
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