EL4X.DE vs. EL4S.DE
EL4X.DE (Deka DAXplus Maximum Dividend UCITS ETF) and EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) are both exchange-traded funds - EL4X.DE is a Europe Equities fund tracking the DAXplus® Maximum Dividend, 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, EL4X.DE returned 2.29%/yr vs -0.20%/yr for EL4S.DE. At a correlation of -0.15, they often move in opposite directions. EL4X.DE charges 0.30%/yr vs 0.15%/yr for EL4S.DE.
Performance
EL4X.DE vs. EL4S.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EL4X.DE achieves a 6.17% return, which is significantly higher than EL4S.DE's 0.11% return. Over the past 10 years, EL4X.DE has outperformed EL4S.DE with an annualized return of 2.29%, while EL4S.DE has yielded a comparatively lower -0.20% annualized return.
EL4X.DE
- 1D
- 0.59%
- 1M
- -0.32%
- YTD
- 6.17%
- 6M
- 9.91%
- 1Y
- 6.78%
- 3Y*
- 9.31%
- 5Y*
- 2.45%
- 10Y*
- 2.29%
EL4S.DE
- 1D
- 0.02%
- 1M
- 0.23%
- YTD
- 0.11%
- 6M
- 0.14%
- 1Y
- 0.60%
- 3Y*
- 2.24%
- 5Y*
- 0.36%
- 10Y*
- -0.20%
EL4X.DE vs. EL4S.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 6.17% | 14.14% | -1.45% | 26.38% | -20.06% | 9.02% | -2.95% | 11.71% | -18.87% | 5.70% |
EL4S.DE Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF | 0.11% | 1.65% | 2.75% | 2.51% | -4.56% | -0.97% | -0.79% | -0.83% | -0.57% | -1.08% |
Correlation
The correlation between EL4X.DE and EL4S.DE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2009 | -0.15 |
The correlation between EL4X.DE and EL4S.DE shifts across timeframes, from -0.15 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EL4X.DE vs. EL4S.DE — Risk / Return Rank
EL4X.DE
EL4S.DE
EL4X.DE vs. EL4S.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka DAXplus Maximum Dividend UCITS ETF (EL4X.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.
| EL4X.DE | EL4S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.10 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 0.58 | +0.10 |
| Martin ratioReturn relative to average drawdown | 1.48 | 1.87 | -0.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EL4X.DE | EL4S.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 0.54 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.24 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.13 | -0.18 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | -0.30 | +0.60 |
Drawdowns
EL4X.DE vs. EL4S.DE - Drawdown Comparison
The maximum EL4X.DE drawdown since its inception was -52.91%, which is greater than EL4S.DE's maximum drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for EL4X.DE and EL4S.DE.
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Drawdown Indicators
| EL4X.DE | EL4S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.91% | -13.04% | -39.87% |
Max Drawdown (1Y)Largest decline over 1 year | -9.87% | -1.03% | -8.84% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -1.03% | -15.57% |
Max Drawdown (5Y)Largest decline over 5 years | -34.51% | -5.86% | -28.65% |
Max Drawdown (10Y)Largest decline over 10 years | -52.91% | -9.46% | -43.45% |
Current DrawdownCurrent decline from peak | -2.74% | -6.04% | +3.30% |
Average DrawdownAverage peak-to-trough decline | -12.17% | -5.87% | -6.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 0.32% | +4.24% |
Volatility
EL4X.DE vs. EL4S.DE - Volatility Comparison
Deka DAXplus Maximum Dividend UCITS ETF (EL4X.DE) has a higher volatility of 4.54% compared to Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) at 0.44%. This indicates that EL4X.DE's price experiences larger fluctuations and is considered to be riskier 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
| EL4X.DE | EL4S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 0.44% | +4.10% |
Volatility (6M)Calculated over the trailing 6-month period | 11.68% | 0.97% | +10.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.25% | 1.10% | +14.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 1.46% | +15.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 1.12% | +17.11% |
EL4X.DE vs. EL4S.DE - Expense Ratio Comparison
EL4X.DE has a 0.30% expense ratio, which is higher than EL4S.DE's 0.15% expense ratio.
Dividends
EL4X.DE vs. EL4S.DE - Dividend Comparison
EL4X.DE's dividend yield for the trailing twelve months is around 4.73%, more than EL4S.DE's 1.48% 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 | 1.48% | 1.20% | 0.83% | 0.60% | 0.88% | 0.94% | 0.78% | 1.06% | 0.99% | 1.63% | 1.46% | 1.60% |
EL4X.DE Deka DAXplus Maximum Dividend UCITS ETF | 4.73% | 5.11% | 7.17% | 5.99% | 8.64% | 3.83% | 2.89% | 6.66% | 8.48% | 7.17% | 7.37% | 5.62% |
Frequently Asked Questions
EL4X.DE and EL4S.DE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4S.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4S.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for EL4X.DE.
EL4X.DE is categorized as Europe Equities, while EL4S.DE is European Government Bonds. EL4X.DE tracks DAXplus® Maximum Dividend, while EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3. Their fees differ too: 0.30% for EL4X.DE and 0.15% for EL4S.DE.
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