JREB.DE vs. EL48.DE
JREB.DE (JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF) and EL48.DE (Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF) are both European Corporate Bonds funds - JREB.DE tracks the JP Morgan EUR Corporate Bond Research Enhanced Index (ESG) while EL48.DE tracks the iBoxx® EUR Liquid Germany Covered Diversified. Both are passively managed. Over the past 5 years, JREB.DE returned -0.01%/yr vs -1.42%/yr for EL48.DE. A 0.67 correlation means they provide meaningful diversification when combined. JREB.DE charges 0.04%/yr vs 0.09%/yr for EL48.DE.
Performance
JREB.DE vs. EL48.DE - Performance Comparison
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Returns By Period
In the year-to-date period, JREB.DE achieves a 0.55% return, which is significantly higher than EL48.DE's -0.08% return.
JREB.DE
- 1D
- 0.03%
- 1M
- -0.52%
- 6M
- 0.07%
- YTD
- 0.55%
- 1Y
- 1.45%
- 3Y*
- 4.32%
- 5Y*
- -0.01%
- 10Y*
- —
EL48.DE
- 1D
- -0.13%
- 1M
- -0.62%
- 6M
- -0.43%
- YTD
- -0.08%
- 1Y
- 0.41%
- 3Y*
- 2.92%
- 5Y*
- -1.42%
- 10Y*
- -0.52%
JREB.DE vs. EL48.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JREB.DE JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF | 0.55% | 3.15% | 4.24% | 7.62% | -13.22% | -1.05% | 2.29% | 6.17% | 0.29% |
EL48.DE Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF | -0.08% | 2.29% | 2.96% | 5.22% | -14.74% | -2.30% | 1.63% | 2.29% | 0.33% |
Correlation
The correlation between JREB.DE and EL48.DE is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2018 | 0.67 |
Over the past year, the correlation between JREB.DE and EL48.DE has dropped to 0.44 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
JREB.DE vs. EL48.DE — Risk / Return Rank
JREB.DE
EL48.DE
JREB.DE vs. EL48.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF (JREB.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.
| JREB.DE | EL48.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.03 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 0.19 | +0.28 |
| Martin ratioReturn relative to average drawdown | 1.47 | 0.44 | +1.03 |
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Drawdowns
JREB.DE vs. EL48.DE - Drawdown Comparison
The maximum JREB.DE drawdown since its inception was -17.22%, smaller than the maximum EL48.DE drawdown of -18.24%. Use the drawdown chart below to compare losses from any high point for JREB.DE and EL48.DE.
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Drawdown Indicators
| JREB.DE | EL48.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.22% | -18.24% | +1.02% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -2.22% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -3.08% | -2.22% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -17.22% | -17.05% | -0.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.24% | — |
Current DrawdownCurrent decline from peak | -1.05% | -8.72% | +7.67% |
Average DrawdownAverage peak-to-trough decline | -4.94% | -4.26% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.94% | +0.04% |
Volatility
JREB.DE vs. EL48.DE - Volatility Comparison
The current volatility for JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF (JREB.DE) is 0.72%, while Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF (EL48.DE) has a volatility of 0.76%. This indicates that JREB.DE experiences smaller price fluctuations and is considered to be less risky than EL48.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JREB.DE | EL48.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 0.76% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.18% | 2.16% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.65% | 2.51% | +1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 4.16% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.96% | 3.23% | +1.73% |
JREB.DE vs. EL48.DE - Expense Ratio Comparison
JREB.DE has a 0.04% expense ratio, which is lower than EL48.DE's 0.09% 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
JREB.DE vs. EL48.DE - Dividend Comparison
JREB.DE has not paid dividends to shareholders, while EL48.DE's dividend yield for the trailing twelve months is around 2.27%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL48.DE Deka iBoxx EUR Liquid Germany Covered Diversified UCITS ETF | 2.27% | 2.45% | 1.70% | 1.66% | 0.19% | 0.15% | 0.19% | 0.28% | 0.28% | 0.87% | 0.90% | 0.94% |
JREB.DE JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF | 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
JREB.DE and EL48.DE have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JREB.DE is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JREB.DE is cheaper with a 0.04% expense ratio, compared with 0.09% for EL48.DE.
JREB.DE tracks JP Morgan EUR Corporate Bond Research Enhanced Index (ESG), while EL48.DE tracks iBoxx® EUR Liquid Germany Covered Diversified. They also come from different issuers: JPMorgan and Deka. Their fees differ too: 0.04% for JREB.DE and 0.09% for EL48.DE.
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