EL4V.DE vs. IBCA.DE
EL4V.DE (Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF) and IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) are both European Government Bonds funds - EL4V.DE tracks the Deutsche Börse EUROGOV Germany 10+ Index while IBCA.DE tracks the Bloomberg Euro Government Bond 1-3. Both are passively managed. Over the past 10 years, EL4V.DE returned -3.65%/yr vs 0.38%/yr for IBCA.DE. At a 0.31 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
EL4V.DE vs. IBCA.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 IBCA.DE's 0.32% return. Over the past 10 years, EL4V.DE has underperformed IBCA.DE with an annualized return of -3.65%, while IBCA.DE has yielded a comparatively higher 0.38% 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%
IBCA.DE
- 1D
- 0.03%
- 1M
- -0.04%
- 6M
- 0.16%
- YTD
- 0.32%
- 1Y
- 1.01%
- 3Y*
- 2.82%
- 5Y*
- 0.85%
- 10Y*
- 0.38%
EL4V.DE vs. IBCA.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% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 0.32% | 2.32% | 3.06% | 3.49% | -4.26% | -0.84% | -0.15% | 0.14% | -0.27% | 0.02% |
Correlation
The correlation between EL4V.DE and IBCA.DE is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2009 | 0.31 |
Over the past year, EL4V.DE and IBCA.DE have become more correlated (0.65) than their long-term average of 0.31, meaning their price movements have been converging.
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Return for Risk
EL4V.DE vs. IBCA.DE — Risk / Return Rank
EL4V.DE
IBCA.DE
EL4V.DE vs. IBCA.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 iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.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 | IBCA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.15 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 0.88 | -1.37 |
| Martin ratioReturn relative to average drawdown | -0.92 | 2.73 | -3.64 |
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Drawdowns
EL4V.DE vs. IBCA.DE - Drawdown Comparison
The maximum EL4V.DE drawdown since its inception was -43.83%, which is greater than IBCA.DE's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for EL4V.DE and IBCA.DE.
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Drawdown Indicators
| EL4V.DE | IBCA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -8.31% | -35.52% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -1.14% | -5.49% |
Max Drawdown (3Y)Largest decline over 3 years | -14.80% | -1.14% | -13.66% |
Max Drawdown (5Y)Largest decline over 5 years | -40.13% | -5.21% | -34.92% |
Max Drawdown (10Y)Largest decline over 10 years | -43.83% | -8.31% | -35.52% |
Current DrawdownCurrent decline from peak | -42.50% | -0.30% | -42.20% |
Average DrawdownAverage peak-to-trough decline | -13.95% | -0.84% | -13.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 0.37% | +3.21% |
Volatility
EL4V.DE vs. IBCA.DE - Volatility Comparison
Deka Deutsche Börse EUROGOV Germany 10+ UCITS ETF (EL4V.DE) has a higher volatility of 2.19% compared to iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) at 0.33%. This indicates that EL4V.DE's price experiences larger fluctuations and is considered to be riskier than IBCA.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 | IBCA.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% | 1.31% | +4.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.71% | 1.40% | +6.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.68% | 1.56% | +11.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.87% | 3.81% | +7.06% |
EL4V.DE vs. IBCA.DE - Expense Ratio Comparison
Both EL4V.DE and IBCA.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. IBCA.DE - Dividend Comparison
EL4V.DE's dividend yield for the trailing twelve months is around 2.30%, more than IBCA.DE's 2.18% 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% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.45% | 2.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.29% |
Frequently Asked Questions
EL4V.DE and IBCA.DE have a correlation of 0.65, 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 IBCA.DE have the same expense ratio: 0.15% per year.
EL4V.DE tracks Deutsche Börse EUROGOV Germany 10+ Index, while IBCA.DE tracks Bloomberg Euro Government Bond 1-3. They also come from different issuers: Deka and iShares.
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