IEXA.DE vs. EL48.DE
IEXA.DE (iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc) and EL48.DE (Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF) are both European Corporate Bonds funds - IEXA.DE tracks the Bloomberg Euro Corporate ex-Financials Bond while EL48.DE tracks the iBoxx® EUR Liquid Germany Covered Diversified. Both are passively managed. Over the past 3 years, IEXA.DE returned 4.16%/yr vs 3.27%/yr for EL48.DE. A 0.76 correlation means they provide meaningful diversification when combined. IEXA.DE charges 0.20%/yr vs 0.09%/yr for EL48.DE.
Performance
IEXA.DE vs. EL48.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IEXA.DE achieves a 1.30% return, which is significantly higher than EL48.DE's 0.82% return.
IEXA.DE
- 1D
- 0.00%
- 1M
- 0.74%
- YTD
- 1.30%
- 6M
- 1.48%
- 1Y
- 2.24%
- 3Y*
- 4.16%
- 5Y*
- —
- 10Y*
- —
EL48.DE
- 1D
- 0.00%
- 1M
- 0.48%
- YTD
- 0.82%
- 6M
- 0.92%
- 1Y
- 1.38%
- 3Y*
- 3.27%
- 5Y*
- -1.15%
- 10Y*
- -0.39%
IEXA.DE vs. EL48.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IEXA.DE iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc | 1.30% | 2.47% | 3.54% | 7.38% | -5.39% |
EL48.DE Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF | 0.82% | 2.29% | 2.96% | 5.22% | -8.13% |
Correlation
The correlation between IEXA.DE and EL48.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 27, 2022 | 0.76 |
The correlation between IEXA.DE and EL48.DE shifts across timeframes, from 0.56 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.
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
IEXA.DE vs. EL48.DE — Risk / Return Rank
IEXA.DE
EL48.DE
IEXA.DE vs. EL48.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc (IEXA.DE) and Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF (EL48.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.
| IEXA.DE | EL48.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.10 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 0.62 | +0.26 |
| Martin ratioReturn relative to average drawdown | 2.79 | 1.53 | +1.27 |
Loading charts...
Drawdowns
IEXA.DE vs. EL48.DE - Drawdown Comparison
The maximum IEXA.DE drawdown since its inception was -9.06%, smaller than the maximum EL48.DE drawdown of -18.24%. Use the drawdown chart below to compare losses from any high point for IEXA.DE and EL48.DE.
Loading charts...
Drawdown Indicators
| IEXA.DE | EL48.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.06% | -18.24% | +9.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.56% | -2.22% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -2.56% | -2.22% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.05% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.24% | — |
Current DrawdownCurrent decline from peak | 0.00% | -7.89% | +7.89% |
Average DrawdownAverage peak-to-trough decline | -2.24% | -4.24% | +2.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 0.90% | -0.10% |
Volatility
IEXA.DE vs. EL48.DE - Volatility Comparison
iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc (IEXA.DE) has a higher volatility of 0.78% compared to Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF (EL48.DE) at 0.59%. This indicates that IEXA.DE's price experiences larger fluctuations and is considered to be riskier than EL48.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IEXA.DE | EL48.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.59% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 2.09% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.26% | 2.48% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.77% | 4.15% | +0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 3.23% | +1.54% |
IEXA.DE vs. EL48.DE - Expense Ratio Comparison
IEXA.DE has a 0.20% expense ratio, which is higher than EL48.DE's 0.09% 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
IEXA.DE vs. EL48.DE - Dividend Comparison
IEXA.DE has not paid dividends to shareholders, while EL48.DE's dividend yield for the trailing twelve months is around 2.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL48.DE Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF | 2.06% | 2.45% | 1.70% | 1.66% | 0.19% | 0.15% | 0.19% | 0.28% | 0.28% | 0.87% | 0.90% | 0.94% |
IEXA.DE iShares EUR Corporate Bond ex-Financials 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% |
Frequently Asked Questions
IEXA.DE and EL48.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL48.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL48.DE is cheaper with a 0.09% expense ratio, compared with 0.20% for IEXA.DE.
IEXA.DE tracks Bloomberg Euro Corporate ex-Financials Bond, while EL48.DE tracks iBoxx® EUR Liquid Germany Covered Diversified. They also come from different issuers: iShares and Deka. Their fees differ too: 0.20% for IEXA.DE and 0.09% for EL48.DE.
Find the right allocation for IEXA.DE and EL48.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