EL4V.DE vs. ELFW.DE
EL4V.DE (Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF) and ELFW.DE (Deka MSCI World UCITS ETF Dist) are both exchange-traded funds - EL4V.DE is a European Government Bonds fund tracking the Deutsche Börse EUROGOV Germany 10+ Index, while ELFW.DE is a Global Equities fund tracking the MSCI World. Both are passively managed. Over the past 5 years, EL4V.DE returned -8.68%/yr vs 11.92%/yr for ELFW.DE. At a correlation of -0.06, they often move in opposite directions. EL4V.DE charges 0.15%/yr vs 0.31%/yr for ELFW.DE.
Performance
EL4V.DE vs. ELFW.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 ELFW.DE's 12.73% 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%
ELFW.DE
- 1D
- 0.16%
- 1M
- 1.57%
- 6M
- 11.09%
- YTD
- 12.73%
- 1Y
- 23.36%
- 3Y*
- 17.86%
- 5Y*
- 11.92%
- 10Y*
- —
EL4V.DE vs. ELFW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 2.41% |
ELFW.DE Deka MSCI World UCITS ETF Dist | 12.73% | 7.58% | 25.72% | 19.97% | -14.02% | 31.86% | 5.46% | 30.28% | -10.83% |
Correlation
The correlation between EL4V.DE and ELFW.DE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2018 | -0.06 |
The correlation between EL4V.DE and ELFW.DE shifts across timeframes, from -0.06 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EL4V.DE vs. ELFW.DE — Risk / Return Rank
EL4V.DE
ELFW.DE
EL4V.DE vs. ELFW.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 World UCITS ETF Dist (ELFW.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 | ELFW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -3.40 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.38 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 3.48 | -3.97 |
| Martin ratioReturn relative to average drawdown | -0.92 | 13.90 | -14.82 |
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Drawdowns
EL4V.DE vs. ELFW.DE - Drawdown Comparison
The maximum EL4V.DE drawdown since its inception was -43.83%, which is greater than ELFW.DE's maximum drawdown of -33.58%. Use the drawdown chart below to compare losses from any high point for EL4V.DE and ELFW.DE.
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Drawdown Indicators
| EL4V.DE | ELFW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -33.58% | -10.25% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -6.68% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -14.80% | -21.81% | +7.01% |
Max Drawdown (5Y)Largest decline over 5 years | -40.13% | -21.81% | -18.32% |
Max Drawdown (10Y)Largest decline over 10 years | -43.83% | — | — |
Current DrawdownCurrent decline from peak | -42.50% | -0.09% | -42.41% |
Average DrawdownAverage peak-to-trough decline | -13.95% | -4.64% | -9.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 1.68% | +1.90% |
Volatility
EL4V.DE vs. ELFW.DE - Volatility Comparison
The current volatility for Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF (EL4V.DE) is 2.19%, while Deka MSCI World UCITS ETF Dist (ELFW.DE) has a volatility of 2.43%. This indicates that EL4V.DE experiences smaller price fluctuations and is considered to be less risky than ELFW.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 | ELFW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 2.43% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 5.85% | 8.02% | -2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.71% | 11.40% | -3.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.68% | 14.18% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.87% | 15.95% | -5.08% |
EL4V.DE vs. ELFW.DE - Expense Ratio Comparison
EL4V.DE has a 0.15% expense ratio, which is lower than ELFW.DE's 0.31% expense ratio.
Dividends
EL4V.DE vs. ELFW.DE - Dividend Comparison
EL4V.DE's dividend yield for the trailing twelve months is around 2.30%, more than ELFW.DE's 0.87% 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% |
ELFW.DE Deka MSCI World UCITS ETF Dist | 0.87% | 1.01% | 1.04% | 1.37% | 1.66% | 0.96% | 1.29% | 1.25% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EL4V.DE and ELFW.DE have a correlation of 0.27, 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 0.31% for ELFW.DE.
EL4V.DE is categorized as European Government Bonds, while ELFW.DE is Global Equities. EL4V.DE tracks Deutsche Börse EUROGOV Germany 10+ Index, while ELFW.DE tracks MSCI World. Their fees differ too: 0.15% for EL4V.DE and 0.31% for ELFW.DE.
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