EL4V.DE vs. EL4X.DE
EL4V.DE (Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF) and EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) are both exchange-traded funds - EL4V.DE is a European Government Bonds fund tracking the Deutsche Börse EUROGOV Germany 10+ Index, while EL4X.DE is a Europe Equities fund tracking the DAXplus® Maximum Dividend. Both are passively managed. Over the past 10 years, EL4V.DE returned -3.65%/yr vs 1.88%/yr for EL4X.DE. At a correlation of -0.19, they often move in opposite directions. EL4V.DE charges 0.15%/yr vs 0.30%/yr for EL4X.DE.
Performance
EL4V.DE vs. EL4X.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 EL4X.DE's 6.39% return. Over the past 10 years, EL4V.DE has underperformed EL4X.DE with an annualized return of -3.65%, while EL4X.DE has yielded a comparatively higher 1.88% 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%
EL4X.DE
- 1D
- 0.87%
- 1M
- -1.60%
- 6M
- 4.26%
- YTD
- 6.39%
- 1Y
- 6.06%
- 3Y*
- 8.30%
- 5Y*
- 2.51%
- 10Y*
- 1.88%
EL4V.DE vs. EL4X.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% |
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 6.39% | 14.14% | -1.45% | 26.37% | -20.07% | 9.05% | -2.95% | 11.24% | -23.98% | 5.70% |
Correlation
The correlation between EL4V.DE and EL4X.DE is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2009 | -0.19 |
The correlation between EL4V.DE and EL4X.DE shifts across timeframes, from -0.19 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EL4V.DE vs. EL4X.DE — Risk / Return Rank
EL4V.DE
EL4X.DE
EL4V.DE vs. EL4X.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 DAXplus Maximum Dividend UCITS ETF (EL4X.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 | EL4X.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.08 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 0.61 | -1.10 |
| Martin ratioReturn relative to average drawdown | -0.92 | 1.30 | -2.22 |
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Drawdowns
EL4V.DE vs. EL4X.DE - Drawdown Comparison
The maximum EL4V.DE drawdown since its inception was -43.83%, smaller than the maximum EL4X.DE drawdown of -56.06%. Use the drawdown chart below to compare losses from any high point for EL4V.DE and EL4X.DE.
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Drawdown Indicators
| EL4V.DE | EL4X.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -56.06% | +12.23% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -9.87% | +3.24% |
Max Drawdown (3Y)Largest decline over 3 years | -14.80% | -16.60% | +1.80% |
Max Drawdown (5Y)Largest decline over 5 years | -40.13% | -34.51% | -5.62% |
Max Drawdown (10Y)Largest decline over 10 years | -43.83% | -56.06% | +12.23% |
Current DrawdownCurrent decline from peak | -42.50% | -3.25% | -39.25% |
Average DrawdownAverage peak-to-trough decline | -13.95% | -14.55% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 4.64% | -1.06% |
Volatility
EL4V.DE vs. EL4X.DE - Volatility Comparison
The current volatility for Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF (EL4V.DE) is 2.19%, while Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a volatility of 5.86%. This indicates that EL4V.DE experiences smaller price fluctuations and is considered to be less risky than EL4X.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 | EL4X.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 5.86% | -3.67% |
Volatility (6M)Calculated over the trailing 6-month period | 5.85% | 13.32% | -7.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.71% | 16.00% | -8.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.68% | 17.04% | -4.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.87% | 18.18% | -7.31% |
EL4V.DE vs. EL4X.DE - Expense Ratio Comparison
EL4V.DE has a 0.15% expense ratio, which is lower than EL4X.DE's 0.30% expense ratio.
Dividends
EL4V.DE vs. EL4X.DE - Dividend Comparison
EL4V.DE's dividend yield for the trailing twelve months is around 2.30%, less than EL4X.DE's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 4.56% | 5.11% | 7.17% | 5.99% | 8.64% | 3.83% | 2.89% | 6.21% | 0.42% | 7.17% | 7.37% | 5.62% |
Frequently Asked Questions
EL4V.DE and EL4X.DE have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
EL4V.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for EL4X.DE.
EL4V.DE is categorized as European Government Bonds, while EL4X.DE is Europe Equities. EL4V.DE tracks Deutsche Börse EUROGOV Germany 10+ Index, while EL4X.DE tracks DAXplus® Maximum Dividend. Their fees differ too: 0.15% for EL4V.DE and 0.30% for EL4X.DE.
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