SYBG.DE vs. EL4S.DE
SYBG.DE (SPDR Bloomberg UK Gilt UCITS ETF) and EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) are both European Government Bonds funds - SYBG.DE tracks the Bloomberg UK Gilt while EL4S.DE tracks the Deutsche Börse EUROGOV® Germany 1-3. Both are passively managed. Over the past 10 years, SYBG.DE returned -2.10%/yr vs -0.20%/yr for EL4S.DE. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
SYBG.DE vs. EL4S.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYBG.DE achieves a -0.52% return, which is significantly lower than EL4S.DE's 0.11% return. Over the past 10 years, SYBG.DE has underperformed EL4S.DE with an annualized return of -2.10%, while EL4S.DE has yielded a comparatively higher -0.20% annualized return.
SYBG.DE
- 1D
- 0.06%
- 1M
- 0.46%
- YTD
- -0.52%
- 6M
- -0.19%
- 1Y
- -0.66%
- 3Y*
- 1.99%
- 5Y*
- -5.01%
- 10Y*
- -2.10%
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%
SYBG.DE vs. EL4S.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | -0.52% | 0.15% | 0.09% | 5.36% | -28.98% | 2.15% | 1.98% | 13.19% | -1.03% | -1.99% |
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 SYBG.DE and EL4S.DE is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since May 21, 2012 | 0.46 |
The correlation between SYBG.DE and EL4S.DE shifts across timeframes, from 0.42 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SYBG.DE vs. EL4S.DE — Risk / Return Rank
SYBG.DE
EL4S.DE
SYBG.DE vs. EL4S.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 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.
| SYBG.DE | EL4S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.10 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 0.58 | -0.71 |
| Martin ratioReturn relative to average drawdown | -0.29 | 1.87 | -2.15 |
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
| SYBG.DE | EL4S.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.08 | 0.54 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | 0.24 | -0.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.19 | -0.18 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.02 | -0.30 | +0.28 |
Drawdowns
SYBG.DE vs. EL4S.DE - Drawdown Comparison
The maximum SYBG.DE drawdown since its inception was -36.77%, 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 SYBG.DE and EL4S.DE.
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Drawdown Indicators
| SYBG.DE | EL4S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.77% | -13.04% | -23.73% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -1.03% | -4.39% |
Max Drawdown (3Y)Largest decline over 3 years | -8.77% | -1.03% | -7.74% |
Max Drawdown (5Y)Largest decline over 5 years | -36.25% | -5.86% | -30.39% |
Max Drawdown (10Y)Largest decline over 10 years | -36.77% | -9.46% | -27.31% |
Current DrawdownCurrent decline from peak | -28.15% | -6.04% | -22.11% |
Average DrawdownAverage peak-to-trough decline | -13.60% | -5.87% | -7.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 0.32% | +2.03% |
Volatility
SYBG.DE vs. EL4S.DE - Volatility Comparison
SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE) has a higher volatility of 3.47% compared to Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) at 0.44%. This indicates that SYBG.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
| SYBG.DE | EL4S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 0.44% | +3.03% |
Volatility (6M)Calculated over the trailing 6-month period | 6.13% | 0.97% | +5.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.05% | 1.10% | +6.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.82% | 1.46% | +10.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.14% | 1.12% | +10.02% |
SYBG.DE vs. EL4S.DE - Expense Ratio Comparison
Both SYBG.DE and EL4S.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. EL4S.DE - Dividend Comparison
SYBG.DE's dividend yield for the trailing twelve months is around 3.82%, 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% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 3.82% | 3.64% | 2.67% | 1.69% | 1.22% | 0.82% | 1.11% | 1.14% | 1.28% | 1.61% | 1.77% | 1.89% |
Frequently Asked Questions
SYBG.DE and EL4S.DE have a correlation of 0.42, 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 EL4S.DE have the same expense ratio: 0.15% per year.
SYBG.DE tracks Bloomberg UK Gilt, while EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3. They also come from different issuers: State Street and Deka.
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