ELFF.DE vs. EL4R.DE

Last updated Jun 5, 2026

ELFF.DE (Deka Euro Corporates 0-3 Liquid UCITS ETF ) and EL4R.DE (Deka Deutsche Boerse EUROGOV Germany UCITS ETF) are both exchange-traded funds - ELFF.DE is a European Corporate Bonds fund tracking the Solactive Euro Corporates 0-3 Year Liquid EUR, while EL4R.DE is a European Government Bonds fund tracking the Deutsche Börse EUROGOV® Germany 1-10. Both are passively managed. Over the past 5 years, ELFF.DE returned 1.31%/yr vs -1.76%/yr for EL4R.DE. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

ELFF.DE vs. EL4R.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Deka Euro Corporates 0-3 Liquid UCITS ETF (ELFF.DE) and Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELFF.DE achieves a 0.40% return, which is significantly higher than EL4R.DE's -0.04% return.

ELFF.DE

• 1D: 0.13%
• 1M: 0.17%
• YTD: 0.40%
• 6M: 0.45%
• 1Y: 1.66%
• 3Y*: 3.30%
• 5Y*: 1.31%
• 10Y*: —

EL4R.DE

• 1D: 0.08%
• 1M: -0.00%
• YTD: -0.04%
• 6M: -0.14%
• 1Y: 0.07%
• 3Y*: 1.66%
• 5Y*: -1.76%
• 10Y*: -0.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ELFF.DE vs. EL4R.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ELFF.DE Deka Euro Corporates 0-3 Liquid UCITS ETF	0.40%	2.75%	3.74%	3.68%	-3.53%	-0.57%	0.22%	-0.33%
EL4R.DE Deka Deutsche Boerse EUROGOV Germany UCITS ETF	-0.04%	0.60%	1.24%	4.55%	-13.39%	-2.08%	0.94%	-2.78%

Correlation

The correlation between ELFF.DE and EL4R.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Sep 4, 2019	0.46

The correlation between ELFF.DE and EL4R.DE has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.

Return for Risk

ELFF.DE vs. EL4R.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ELFF.DE

ELFF.DE Risk / Return Rank: 23
ELFF.DE Sharpe Ratio Rank: 25
ELFF.DE Sortino Ratio Rank: 24
ELFF.DE Omega Ratio Rank: 25
ELFF.DE Calmar Ratio Rank: 21
ELFF.DE Martin Ratio Rank: 21

EL4R.DE

EL4R.DE Risk / Return Rank: 8
EL4R.DE Sharpe Ratio Rank: 8
EL4R.DE Sortino Ratio Rank: 7
EL4R.DE Omega Ratio Rank: 7
EL4R.DE Calmar Ratio Rank: 8
EL4R.DE Martin Ratio Rank: 8

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ELFF.DE vs. EL4R.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Deka Euro Corporates 0-3 Liquid UCITS ETF (ELFF.DE) and Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.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.

	ELFF.DE	EL4R.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.86	-0.09	+0.95
Sortino ratio: Return per unit of downside risk	1.27	-0.11	+1.38
Omega ratio: Gain probability vs. loss probability	1.17	0.99	+0.18
Calmar ratio: Return relative to maximum drawdown	0.90	-0.12	+1.02
Martin ratio: Return relative to average drawdown	2.57	-0.29	+2.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELFF.DE vs. EL4R.DE - Sharpe Ratio Comparison

The current ELFF.DE Sharpe Ratio is 0.86, which is higher than the EL4R.DE Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of ELFF.DE and EL4R.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ELFF.DE	EL4R.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	-0.09	+0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	-0.39	+1.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.24	+0.31

Drawdowns

ELFF.DE vs. EL4R.DE - Drawdown Comparison

The maximum ELFF.DE drawdown since its inception was -4.95%, smaller than the maximum EL4R.DE drawdown of -18.11%. Use the drawdown chart below to compare losses from any high point for ELFF.DE and EL4R.DE.

Drawdown Indicators

	ELFF.DE	EL4R.DE	Difference
Max Drawdown Largest peak-to-trough decline	-4.95%	-18.11%	+13.16%
Max Drawdown (1Y) Largest decline over 1 year	-1.64%	-2.41%	+0.77%
Max Drawdown (3Y) Largest decline over 3 years	-1.64%	-2.76%	+1.12%
Max Drawdown (5Y) Largest decline over 5 years	-4.60%	-16.17%	+11.57%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.11%	—
Current Drawdown Current decline from peak	-0.72%	-11.63%	+10.91%
Average Drawdown Average peak-to-trough decline	-1.25%	-4.72%	+3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.57%	0.99%	-0.42%

Volatility

ELFF.DE vs. EL4R.DE - Volatility Comparison

The current volatility for Deka Euro Corporates 0-3 Liquid UCITS ETF (ELFF.DE) is 0.54%, while Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) has a volatility of 1.25%. This indicates that ELFF.DE experiences smaller price fluctuations and is considered to be less risky than EL4R.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELFF.DE	EL4R.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	1.25%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	1.51%	2.55%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	1.72%	3.04%	-1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.70%	4.65%	-2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.62%	3.74%	-2.12%

ELFF.DE vs. EL4R.DE - Expense Ratio Comparison

Both ELFF.DE and EL4R.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

ELFF.DE vs. EL4R.DE - Dividend Comparison

ELFF.DE's dividend yield for the trailing twelve months is around 1.49%, more than EL4R.DE's 1.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EL4R.DE Deka Deutsche Boerse EUROGOV Germany UCITS ETF	1.20%	1.12%	0.66%	0.26%	0.16%	0.25%	0.35%	0.62%	0.74%	1.62%	2.14%	2.60%
ELFF.DE Deka Euro Corporates 0-3 Liquid UCITS ETF	1.49%	2.67%	1.53%	1.48%	1.41%	1.99%	1.55%	0.20%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ELFF.DE and EL4R.DE in my portfolio?

ELFF.DE and EL4R.DE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ELFF.DE or EL4R.DE?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ELFF.DE or EL4R.DE?

ELFF.DE and EL4R.DE have the same expense ratio: 0.15% per year.

What is the main difference between ELFF.DE and EL4R.DE?

ELFF.DE is categorized as European Corporate Bonds, while EL4R.DE is European Government Bonds. ELFF.DE tracks Solactive Euro Corporates 0-3 Year Liquid EUR, while EL4R.DE tracks Deutsche Börse EUROGOV® Germany 1-10.