SYBG.DE vs. EL4R.DE
SYBG.DE (SPDR Bloomberg UK Gilt UCITS ETF) and EL4R.DE (Deka Deutsche Boerse EUROGOV Germany UCITS ETF) are both European Government Bonds funds - SYBG.DE tracks the Bloomberg UK Gilt while EL4R.DE tracks the Deutsche Börse EUROGOV® Germany 1-10. Both are passively managed. Over the past 10 years, SYBG.DE returned -1.64%/yr vs -0.81%/yr for EL4R.DE. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
SYBG.DE vs. EL4R.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYBG.DE achieves a 1.73% return, which is significantly higher than EL4R.DE's 0.83% return. Over the past 10 years, SYBG.DE has underperformed EL4R.DE with an annualized return of -1.64%, while EL4R.DE has yielded a comparatively higher -0.81% annualized return.
SYBG.DE
- 1D
- 0.06%
- 1M
- 2.08%
- YTD
- 1.73%
- 6M
- 2.20%
- 1Y
- 1.77%
- 3Y*
- 2.55%
- 5Y*
- -4.68%
- 10Y*
- -1.64%
EL4R.DE
- 1D
- 0.09%
- 1M
- 0.72%
- YTD
- 0.83%
- 6M
- 0.92%
- 1Y
- 0.72%
- 3Y*
- 1.97%
- 5Y*
- -1.55%
- 10Y*
- -0.81%
SYBG.DE vs. EL4R.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 1.73% | 0.15% | 0.07% | 5.36% | -28.98% | 2.15% | 2.00% | 11.90% | 0.08% | -1.95% |
EL4R.DE Deka Deutsche Boerse EUROGOV Germany UCITS ETF | 0.83% | 0.60% | 1.24% | 4.55% | -13.49% | -1.97% | 0.95% | 0.91% | 1.09% | -1.06% |
Correlation
The correlation between SYBG.DE and EL4R.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 17, 2012 | 0.55 |
The correlation between SYBG.DE and EL4R.DE shifts across timeframes, from 0.55 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SYBG.DE vs. EL4R.DE — Risk / Return Rank
SYBG.DE
EL4R.DE
SYBG.DE vs. EL4R.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg UK Gilt UCITS ETF (SYBG.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.
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.
| SYBG.DE | EL4R.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.05 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | 0.30 | +0.03 |
| Martin ratioReturn relative to average drawdown | 0.77 | 0.69 | +0.08 |
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Drawdowns
SYBG.DE vs. EL4R.DE - Drawdown Comparison
The maximum SYBG.DE drawdown since its inception was -36.66%, which is greater than EL4R.DE's maximum drawdown of -18.12%. Use the drawdown chart below to compare losses from any high point for SYBG.DE and EL4R.DE.
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Drawdown Indicators
| SYBG.DE | EL4R.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.66% | -18.12% | -18.54% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -2.40% | -3.02% |
Max Drawdown (3Y)Largest decline over 3 years | -8.78% | -2.76% | -6.02% |
Max Drawdown (5Y)Largest decline over 5 years | -36.25% | -16.17% | -20.08% |
Max Drawdown (10Y)Largest decline over 10 years | -36.66% | -18.12% | -18.54% |
Current DrawdownCurrent decline from peak | -26.43% | -10.87% | -15.56% |
Average DrawdownAverage peak-to-trough decline | -13.42% | -4.20% | -9.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 1.04% | +1.04% |
Volatility
SYBG.DE vs. EL4R.DE - Volatility Comparison
SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE) has a higher volatility of 1.73% compared to Deka Deutsche Boerse EUROGOV Germany UCITS ETF (EL4R.DE) at 0.83%. This indicates that SYBG.DE's price experiences larger fluctuations and is considered to be riskier than EL4R.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SYBG.DE | EL4R.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 0.83% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 6.10% | 2.53% | +3.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.13% | 2.93% | +5.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.76% | 4.53% | +7.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.84% | 3.57% | +10.27% |
SYBG.DE vs. EL4R.DE - Expense Ratio Comparison
Both SYBG.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
SYBG.DE vs. EL4R.DE - Dividend Comparison
SYBG.DE's dividend yield for the trailing twelve months is around 3.73%, more than EL4R.DE's 1.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4R.DE Deka Deutsche Boerse EUROGOV Germany UCITS ETF | 1.19% | 1.12% | 0.66% | 0.26% | 0.16% | 0.25% | 0.35% | 0.62% | 0.74% | 1.62% | 2.14% | 2.60% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 3.73% | 3.64% | 2.65% | 1.69% | 1.22% | 0.82% | 1.11% | 1.14% | 1.27% | 1.60% | 1.77% | 1.89% |
Frequently Asked Questions
SYBG.DE and EL4R.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SYBG.DE and EL4R.DE have the same expense ratio: 0.15% per year.
SYBG.DE tracks Bloomberg UK Gilt, while EL4R.DE tracks Deutsche Börse EUROGOV® Germany 1-10. They also come from different issuers: State Street and Deka.
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