EL4W.DE vs. E0UA.DE
EL4W.DE (Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF) and E0UA.DE (iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc)) are both Money Market funds - EL4W.DE tracks the Deutsche Börse EUROGOV Germany Money Market Index while E0UA.DE tracks the ICE 0-3 Month Euro Government Bill Index. Both are passively managed. Over the past year, EL4W.DE returned 1.69% vs 1.96% for E0UA.DE. At a correlation of -0.04, they often move in opposite directions. EL4W.DE charges 0.12%/yr vs 0.07%/yr for E0UA.DE.
Performance
EL4W.DE vs. E0UA.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EL4W.DE achieves a 0.92% return, which is significantly lower than E0UA.DE's 1.06% return.
EL4W.DE
- 1D
- 0.02%
- 1M
- 0.18%
- 6M
- 0.86%
- YTD
- 0.92%
- 1Y
- 1.69%
- 3Y*
- 2.60%
- 5Y*
- 1.45%
- 10Y*
- 0.24%
E0UA.DE
- 1D
- 0.00%
- 1M
- 0.16%
- 6M
- 1.01%
- YTD
- 1.06%
- 1Y
- 1.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EL4W.DE vs. E0UA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EL4W.DE Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF | 0.92% | 1.91% | 0.26% |
E0UA.DE iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc) | 1.06% | 2.15% | 0.26% |
Correlation
The correlation between EL4W.DE and E0UA.DE is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2024 | -0.04 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EL4W.DE vs. E0UA.DE — Risk / Return Rank
EL4W.DE
E0UA.DE
EL4W.DE vs. E0UA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF (EL4W.DE) and iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc) (E0UA.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.
| EL4W.DE | E0UA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.82 | 2.28 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 11.67 | 8.94 | +2.73 |
| Martin ratioReturn relative to average drawdown | 68.70 | 28.78 | +39.92 |
Loading charts...
Drawdowns
EL4W.DE vs. E0UA.DE - Drawdown Comparison
The maximum EL4W.DE drawdown since its inception was -8.19%, which is greater than E0UA.DE's maximum drawdown of -0.22%. Use the drawdown chart below to compare losses from any high point for EL4W.DE and E0UA.DE.
Loading charts...
Drawdown Indicators
| EL4W.DE | E0UA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.19% | -0.22% | -7.97% |
Max Drawdown (1Y)Largest decline over 1 year | -0.14% | -0.22% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -0.64% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -1.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -6.23% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.03% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -3.10% | -0.03% | -3.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.07% | -0.05% |
Volatility
EL4W.DE vs. E0UA.DE - Volatility Comparison
Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF (EL4W.DE) has a higher volatility of 0.14% compared to iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc) (E0UA.DE) at 0.09%. This indicates that EL4W.DE's price experiences larger fluctuations and is considered to be riskier than E0UA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EL4W.DE | E0UA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.14% | 0.09% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.38% | 0.41% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.52% | 0.60% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.80% | 0.53% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.94% | 0.53% | +0.41% |
EL4W.DE vs. E0UA.DE - Expense Ratio Comparison
EL4W.DE has a 0.12% expense ratio, which is higher than E0UA.DE's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EL4W.DE vs. E0UA.DE - Dividend Comparison
EL4W.DE's dividend yield for the trailing twelve months is around 2.08%, while E0UA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
E0UA.DE iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EL4W.DE Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF | 2.08% | 3.05% | 2.03% | 1.04% | 0.25% | 0.63% | 0.46% | 1.00% | 0.41% | 1.37% | 1.55% | 1.54% |
Frequently Asked Questions
EL4W.DE and E0UA.DE have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, E0UA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
E0UA.DE is cheaper with a 0.07% expense ratio, compared with 0.12% for EL4W.DE.
EL4W.DE tracks Deutsche Börse EUROGOV Germany Money Market Index, while E0UA.DE tracks ICE 0-3 Month Euro Government Bill Index. They also come from different issuers: Deka and iShares. Their fees differ too: 0.12% for EL4W.DE and 0.07% for E0UA.DE.
Find the right allocation for EL4W.DE and E0UA.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer