EL4W.DE vs. EL4S.DE
EL4W.DE (Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF) and EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) are both exchange-traded funds - EL4W.DE is a Money Market fund tracking the Deutsche Börse EUROGOV Germany Money Market Index, while EL4S.DE is a European Government Bonds fund tracking the Deutsche Börse EUROGOV® Germany 1-3. Both are passively managed. Over the past 10 years, EL4W.DE returned 0.24%/yr vs -0.20%/yr for EL4S.DE. At a 0.32 correlation, their price movements are largely independent. EL4W.DE charges 0.12%/yr vs 0.15%/yr for EL4S.DE.
Performance
EL4W.DE vs. EL4S.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4W.DE achieves a 0.92% return, which is significantly higher than EL4S.DE's 0.25% return. Over the past 10 years, EL4W.DE has outperformed EL4S.DE with an annualized return of 0.24%, while EL4S.DE has yielded a comparatively lower -0.20% annualized 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%
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%
EL4W.DE vs. EL4S.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4W.DE Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF | 0.92% | 1.91% | 3.36% | 2.64% | -1.17% | -0.77% | -0.84% | -0.85% | -1.32% | -1.05% |
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 EL4W.DE and EL4S.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2009 | 0.32 |
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Return for Risk
EL4W.DE vs. EL4S.DE — Risk / Return Rank
EL4W.DE
EL4S.DE
EL4W.DE vs. EL4S.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 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.
| EL4W.DE | EL4S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.69 | ||
| Sortino ratioReturn per unit of downside risk | +4.77 | ||
| Omega ratioGain probability vs. loss probability | 1.82 | 1.11 | +0.71 |
| Calmar ratioReturn relative to maximum drawdown | 11.67 | 0.65 | +11.02 |
| Martin ratioReturn relative to average drawdown | 68.70 | 2.01 | +66.69 |
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Drawdowns
EL4W.DE vs. EL4S.DE - Drawdown Comparison
The maximum EL4W.DE drawdown since its inception was -8.19%, smaller than the maximum EL4S.DE drawdown of -9.45%. Use the drawdown chart below to compare losses from any high point for EL4W.DE and EL4S.DE.
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Drawdown Indicators
| EL4W.DE | EL4S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.19% | -9.45% | +1.26% |
Max Drawdown (1Y)Largest decline over 1 year | -0.14% | -1.03% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -0.64% | -1.03% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | -1.64% | -5.86% | +4.22% |
Max Drawdown (10Y)Largest decline over 10 years | -6.23% | -9.43% | +3.20% |
Current DrawdownCurrent decline from peak | 0.00% | -2.03% | +2.03% |
Average DrawdownAverage peak-to-trough decline | -3.10% | -2.17% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.33% | -0.31% |
Volatility
EL4W.DE vs. EL4S.DE - Volatility Comparison
The current volatility for Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF (EL4W.DE) is 0.14%, while Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) has a volatility of 0.33%. This indicates that EL4W.DE experiences smaller price fluctuations and is considered to be less risky 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
| EL4W.DE | EL4S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.14% | 0.33% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 0.38% | 1.01% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.52% | 1.15% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.80% | 1.47% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.94% | 1.13% | -0.19% |
EL4W.DE vs. EL4S.DE - Expense Ratio Comparison
EL4W.DE has a 0.12% expense ratio, which is lower than EL4S.DE's 0.15% expense ratio. Despite the difference, 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. EL4S.DE - Dividend Comparison
EL4W.DE's dividend yield for the trailing twelve months is around 2.08%, 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% |
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 EL4S.DE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4W.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4W.DE is cheaper with a 0.12% expense ratio, compared with 0.15% for EL4S.DE.
EL4W.DE is categorized as Money Market, while EL4S.DE is European Government Bonds. EL4W.DE tracks Deutsche Börse EUROGOV Germany Money Market Index, while EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3. Their fees differ too: 0.12% for EL4W.DE and 0.15% for EL4S.DE.
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