X03C.DE vs. EL4S.DE
X03C.DE (Xtrackers II Eurozone Government Bond 3-5 UCITS ETF) and EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) are both European Government Bonds funds - X03C.DE tracks the Markit iBoxx® EUR Eurozone 3-5 while EL4S.DE tracks the Deutsche Börse EUROGOV® Germany 1-3. Both are passively managed. Over the past 10 years, X03C.DE returned 0.21%/yr vs -0.20%/yr for EL4S.DE. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
X03C.DE vs. EL4S.DE - Performance Comparison
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Returns By Period
In the year-to-date period, X03C.DE achieves a -0.14% return, which is significantly lower than EL4S.DE's 0.11% return. Over the past 10 years, X03C.DE has outperformed EL4S.DE with an annualized return of 0.21%, while EL4S.DE has yielded a comparatively lower -0.20% annualized return.
X03C.DE
- 1D
- 0.06%
- 1M
- -0.01%
- YTD
- -0.14%
- 6M
- -0.06%
- 1Y
- 0.67%
- 3Y*
- 2.83%
- 5Y*
- -0.28%
- 10Y*
- 0.21%
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%
X03C.DE vs. EL4S.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
X03C.DE Xtrackers II Eurozone Government Bond 3-5 UCITS ETF | -0.14% | 2.45% | 2.38% | 5.56% | -10.15% | -1.30% | 1.36% | 2.65% | 0.06% | -0.24% |
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 X03C.DE and EL4S.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2011 | 0.57 |
The correlation between X03C.DE and EL4S.DE shifts across timeframes, from 0.57 (all time) to 0.85 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
X03C.DE vs. EL4S.DE — Risk / Return Rank
X03C.DE
EL4S.DE
X03C.DE vs. EL4S.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Eurozone Government Bond 3-5 UCITS ETF (X03C.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.
| X03C.DE | EL4S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.10 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 0.58 | -0.43 |
| Martin ratioReturn relative to average drawdown | 0.43 | 1.87 | -1.44 |
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
| X03C.DE | EL4S.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.14 | 0.54 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | 0.24 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.07 | -0.18 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | -0.30 | +0.73 |
Drawdowns
X03C.DE vs. EL4S.DE - Drawdown Comparison
The maximum X03C.DE drawdown since its inception was -12.23%, smaller than the maximum EL4S.DE drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for X03C.DE and EL4S.DE.
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Drawdown Indicators
| X03C.DE | EL4S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.23% | -13.04% | +0.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -1.03% | -1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -2.41% | -1.03% | -1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -12.12% | -5.86% | -6.26% |
Max Drawdown (10Y)Largest decline over 10 years | -12.23% | -9.46% | -2.77% |
Current DrawdownCurrent decline from peak | -2.13% | -6.04% | +3.91% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -5.87% | +3.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.32% | +0.54% |
Volatility
X03C.DE vs. EL4S.DE - Volatility Comparison
Xtrackers II Eurozone Government Bond 3-5 UCITS ETF (X03C.DE) has a higher volatility of 1.01% compared to Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) at 0.44%. This indicates that X03C.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
| X03C.DE | EL4S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 0.44% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 2.31% | 0.97% | +1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.57% | 1.10% | +1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.68% | 1.46% | +2.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.09% | 1.12% | +1.97% |
X03C.DE vs. EL4S.DE - Expense Ratio Comparison
Both X03C.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
X03C.DE vs. EL4S.DE - Dividend Comparison
X03C.DE's dividend yield for the trailing twelve months is around 2.22%, 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% |
X03C.DE Xtrackers II Eurozone Government Bond 3-5 UCITS ETF | 2.22% | 1.86% | 1.05% | 0.47% | 0.51% | 0.37% | 0.39% | 0.00% | 0.00% | 0.00% | 0.62% | 0.82% |
Frequently Asked Questions
X03C.DE and EL4S.DE have a correlation of 0.74, 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.
X03C.DE and EL4S.DE have the same expense ratio: 0.15% per year.
X03C.DE tracks Markit iBoxx® EUR Eurozone 3-5, while EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3. They also come from different issuers: Xtrackers and Deka.
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