SPP3.DE vs. ELFE.DE

Last updated Jun 5, 2026

SPP3.DE (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) and ELFE.DE (Deka US Treasury 7-10 UCITS ETF ) are both Government Bonds funds - SPP3.DE tracks the Bloomberg US 3-7 Year Treasury Bond while ELFE.DE tracks the Solactive US Treasury 7-10 Q Series USD. Both are passively managed. Over the past 5 years, SPP3.DE returned 1.43%/yr vs 0.02%/yr for ELFE.DE. Their correlation of 0.89 suggests significant overlap in exposure. SPP3.DE charges 0.15%/yr vs 0.07%/yr for ELFE.DE.

Performance

SPP3.DE vs. ELFE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) and Deka US Treasury 7-10 UCITS ETF (ELFE.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPP3.DE achieves a 0.86% return, which is significantly higher than ELFE.DE's 0.55% return.

SPP3.DE

• 1D: 0.03%
• 1M: 0.59%
• YTD: 0.86%
• 6M: 0.21%
• 1Y: 1.40%
• 3Y*: 0.87%
• 5Y*: 1.43%
• 10Y*: 1.16%

ELFE.DE

• 1D: 0.13%
• 1M: 0.62%
• YTD: 0.55%
• 6M: -0.26%
• 1Y: 1.89%
• 3Y*: -0.01%
• 5Y*: 0.02%
• 10Y*: —

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

SPP3.DE vs. ELFE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF	0.86%	-4.58%	7.72%	1.58%	-3.86%	5.71%	-2.64%	-3.15%
ELFE.DE Deka US Treasury 7-10 UCITS ETF	0.55%	-3.68%	5.37%	0.04%	-9.38%	5.11%	-0.09%	-4.86%

Correlation

The correlation between SPP3.DE and ELFE.DE is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Sep 4, 2019	0.89

The correlation between SPP3.DE and ELFE.DE has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

Return for Risk

SPP3.DE vs. ELFE.DE — Risk / Return Rank

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

SPP3.DE

SPP3.DE Risk / Return Rank: 13
SPP3.DE Sharpe Ratio Rank: 13
SPP3.DE Sortino Ratio Rank: 12
SPP3.DE Omega Ratio Rank: 12
SPP3.DE Calmar Ratio Rank: 13
SPP3.DE Martin Ratio Rank: 13

ELFE.DE

ELFE.DE Risk / Return Rank: 13
ELFE.DE Sharpe Ratio Rank: 14
ELFE.DE Sortino Ratio Rank: 13
ELFE.DE Omega Ratio Rank: 13
ELFE.DE Calmar Ratio Rank: 14
ELFE.DE Martin Ratio Rank: 14

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.

SPP3.DE vs. ELFE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) and Deka US Treasury 7-10 UCITS ETF (ELFE.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.

	SPP3.DE	ELFE.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.26	0.31	-0.05
Sortino ratio: Return per unit of downside risk	0.42	0.48	-0.06
Omega ratio: Gain probability vs. loss probability	1.05	1.06	-0.01
Calmar ratio: Return relative to maximum drawdown	0.34	0.42	-0.07
Martin ratio: Return relative to average drawdown	0.87	1.04	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPP3.DE vs. ELFE.DE - Sharpe Ratio Comparison

The current SPP3.DE Sharpe Ratio is 0.26, which is comparable to the ELFE.DE Sharpe Ratio of 0.31. The chart below compares the historical Sharpe Ratios of SPP3.DE and ELFE.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

	SPP3.DE	ELFE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.26	0.31	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.00	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	-0.13	+0.26

Drawdowns

SPP3.DE vs. ELFE.DE - Drawdown Comparison

The maximum SPP3.DE drawdown since its inception was -16.82%, smaller than the maximum ELFE.DE drawdown of -20.67%. Use the drawdown chart below to compare losses from any high point for SPP3.DE and ELFE.DE.

Drawdown Indicators

	SPP3.DE	ELFE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-16.82%	-20.67%	+3.85%
Max Drawdown (1Y) Largest decline over 1 year	-4.06%	-4.53%	+0.47%
Max Drawdown (3Y) Largest decline over 3 years	-9.95%	-10.45%	+0.50%
Max Drawdown (5Y) Largest decline over 5 years	-11.51%	-15.39%	+3.88%
Max Drawdown (10Y) Largest decline over 10 years	-16.82%	—	—
Current Drawdown Current decline from peak	-6.25%	-15.66%	+9.41%
Average Drawdown Average peak-to-trough decline	-6.75%	-12.73%	+5.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.81%	-0.20%

Volatility

SPP3.DE vs. ELFE.DE - Volatility Comparison

The current volatility for SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) is 0.76%, while Deka US Treasury 7-10 UCITS ETF (ELFE.DE) has a volatility of 1.17%. This indicates that SPP3.DE experiences smaller price fluctuations and is considered to be less risky than ELFE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPP3.DE	ELFE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	1.17%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	3.64%	4.19%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	5.29%	6.08%	-0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.72%	9.00%	-1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.35%	8.73%	-1.38%

SPP3.DE vs. ELFE.DE - Expense Ratio Comparison

SPP3.DE has a 0.15% expense ratio, which is higher than ELFE.DE's 0.07% 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

SPP3.DE vs. ELFE.DE - Dividend Comparison

SPP3.DE's dividend yield for the trailing twelve months is around 3.91%, less than ELFE.DE's 4.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ELFE.DE Deka US Treasury 7-10 UCITS ETF	4.36%	3.84%	2.83%	2.04%	1.74%	2.27%	1.81%	0.24%	0.00%	0.00%	0.00%
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF	3.91%	3.96%	3.14%	2.90%	1.13%	0.93%	1.80%	2.12%	1.59%	1.48%	0.44%

Frequently Asked Questions

Can I hold both SPP3.DE and ELFE.DE in my portfolio?

SPP3.DE and ELFE.DE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPP3.DE or ELFE.DE?

On fees, ELFE.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPP3.DE or ELFE.DE?

ELFE.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for SPP3.DE.

What is the main difference between SPP3.DE and ELFE.DE?

SPP3.DE tracks Bloomberg US 3-7 Year Treasury Bond, while ELFE.DE tracks Solactive US Treasury 7-10 Q Series USD. They also come from different issuers: State Street and Deka Investment GmbH. Their fees differ too: 0.15% for SPP3.DE and 0.07% for ELFE.DE.