IS0M.DE vs. EL4S.DE
IS0M.DE (iShares Italy Government Bond UCITS ETF EUR Dist) and EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) are both European Government Bonds funds - IS0M.DE tracks the Bloomberg Italy Treasury Bond while EL4S.DE tracks the Deutsche Börse EUROGOV® Germany 1-3. Both are passively managed. Over the past 10 years, IS0M.DE returned 0.92%/yr vs -0.20%/yr for EL4S.DE. At a 0.37 correlation, their price movements are largely independent. IS0M.DE charges 0.20%/yr vs 0.15%/yr for EL4S.DE.
Performance
IS0M.DE vs. EL4S.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS0M.DE achieves a -0.32% return, which is significantly lower than EL4S.DE's 0.11% return. Over the past 10 years, IS0M.DE has outperformed EL4S.DE with an annualized return of 0.92%, while EL4S.DE has yielded a comparatively lower -0.20% annualized return.
IS0M.DE
- 1D
- 0.01%
- 1M
- -0.06%
- YTD
- -0.32%
- 6M
- -0.26%
- 1Y
- 1.11%
- 3Y*
- 4.15%
- 5Y*
- -0.79%
- 10Y*
- 0.92%
EL4S.DE
- 1D
- 0.02%
- 1M
- 0.06%
- YTD
- 0.11%
- 6M
- 0.17%
- 1Y
- 0.70%
- 3Y*
- 2.24%
- 5Y*
- 0.36%
- 10Y*
- -0.20%
IS0M.DE vs. EL4S.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0M.DE iShares Italy Government Bond UCITS ETF EUR Dist | -0.32% | 3.07% | 4.66% | 9.14% | -17.24% | -2.99% | 7.54% | 10.45% | -1.48% | 0.31% |
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 IS0M.DE and EL4S.DE is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2012 | 0.37 |
Over the past year, IS0M.DE and EL4S.DE have become more correlated (0.62) than their long-term average of 0.37, meaning their price movements have been converging.
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Return for Risk
IS0M.DE vs. EL4S.DE — Risk / Return Rank
IS0M.DE
EL4S.DE
IS0M.DE vs. EL4S.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Italy Government Bond UCITS ETF EUR Dist (IS0M.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.
| IS0M.DE | EL4S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.10 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 0.58 | -0.39 |
| Martin ratioReturn relative to average drawdown | 0.58 | 1.87 | -1.28 |
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
| IS0M.DE | EL4S.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 0.54 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | 0.24 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | -0.18 | +0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | -0.30 | +0.79 |
Drawdowns
IS0M.DE vs. EL4S.DE - Drawdown Comparison
The maximum IS0M.DE drawdown since its inception was -21.08%, 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 IS0M.DE and EL4S.DE.
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Drawdown Indicators
| IS0M.DE | EL4S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -13.04% | -8.04% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -1.03% | -3.25% |
Max Drawdown (3Y)Largest decline over 3 years | -4.42% | -1.03% | -3.39% |
Max Drawdown (5Y)Largest decline over 5 years | -20.85% | -5.86% | -14.99% |
Max Drawdown (10Y)Largest decline over 10 years | -21.08% | -9.46% | -11.62% |
Current DrawdownCurrent decline from peak | -6.33% | -6.04% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -5.53% | -5.87% | +0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 0.32% | +1.11% |
Volatility
IS0M.DE vs. EL4S.DE - Volatility Comparison
iShares Italy Government Bond UCITS ETF EUR Dist (IS0M.DE) has a higher volatility of 1.99% compared to Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) at 0.44%. This indicates that IS0M.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
| IS0M.DE | EL4S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 0.44% | +1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 4.25% | 0.97% | +3.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.84% | 1.10% | +3.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.80% | 1.46% | +5.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.73% | 1.12% | +5.61% |
IS0M.DE vs. EL4S.DE - Expense Ratio Comparison
IS0M.DE has a 0.20% expense ratio, which is higher than EL4S.DE's 0.15% 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
IS0M.DE vs. EL4S.DE - Dividend Comparison
IS0M.DE's dividend yield for the trailing twelve months is around 2.83%, 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% |
IS0M.DE iShares Italy Government Bond UCITS ETF EUR Dist | 2.83% | 2.82% | 2.66% | 2.10% | 1.05% | 0.74% | 0.98% | 1.45% | 1.37% | 1.37% | 1.47% | 1.83% |
Frequently Asked Questions
IS0M.DE and EL4S.DE have a correlation of 0.62, 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 0.20% for IS0M.DE.
IS0M.DE tracks Bloomberg Italy Treasury Bond, while EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3. They also come from different issuers: iShares and Deka. Their fees differ too: 0.20% for IS0M.DE and 0.15% for EL4S.DE.
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