X03F.DE vs. EL4S.DE
X03F.DE (Xtrackers II Eurozone Government Bond UCITS ETF) and EL4S.DE (Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF) are both European Government Bonds funds - X03F.DE tracks the iBoxx® EUR Sovereigns Eurozone while EL4S.DE tracks the Deutsche Börse EUROGOV® Germany 1-3. Both are passively managed. Over the past 10 years, X03F.DE returned -0.56%/yr vs -0.20%/yr for EL4S.DE. A 0.56 correlation means they provide meaningful diversification when combined. X03F.DE charges 0.09%/yr vs 0.15%/yr for EL4S.DE.
Performance
X03F.DE vs. EL4S.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, X03F.DE achieves a -0.38% return, which is significantly lower than EL4S.DE's 0.21% return. Over the past 10 years, X03F.DE has underperformed EL4S.DE with an annualized return of -0.56%, while EL4S.DE has yielded a comparatively higher -0.20% annualized return.
X03F.DE
- 1D
- 0.02%
- 1M
- -1.17%
- 6M
- -0.74%
- YTD
- -0.38%
- 1Y
- 0.10%
- 3Y*
- 2.02%
- 5Y*
- -2.62%
- 10Y*
- -0.56%
EL4S.DE
- 1D
- -0.03%
- 1M
- -0.12%
- 6M
- 0.13%
- YTD
- 0.21%
- 1Y
- 0.58%
- 3Y*
- 2.27%
- 5Y*
- 0.39%
- 10Y*
- -0.20%
X03F.DE vs. EL4S.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
X03F.DE Xtrackers II Eurozone Government Bond UCITS ETF | -0.38% | 0.74% | 1.51% | 6.93% | -18.40% | -3.32% | 4.70% | 6.75% | 0.83% | -0.13% |
EL4S.DE Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF | 0.21% | 1.65% | 2.76% | 2.50% | -4.56% | -0.96% | -0.79% | -0.84% | -0.57% | -1.08% |
Correlation
The correlation between X03F.DE and EL4S.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2011 | 0.56 |
The correlation between X03F.DE and EL4S.DE shifts across timeframes, from 0.56 (all time) to 0.75 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
X03F.DE vs. EL4S.DE — Risk / Return Rank
X03F.DE
EL4S.DE
X03F.DE vs. EL4S.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Eurozone Government Bond UCITS ETF (X03F.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.
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.
| X03F.DE | EL4S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.09 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 0.56 | -0.53 |
| Martin ratioReturn relative to average drawdown | 0.07 | 1.73 | -1.65 |
Loading charts...
Drawdowns
X03F.DE vs. EL4S.DE - Drawdown Comparison
The maximum X03F.DE drawdown since its inception was -22.47%, which is greater than EL4S.DE's maximum drawdown of -9.45%. Use the drawdown chart below to compare losses from any high point for X03F.DE and EL4S.DE.
Loading charts...
Drawdown Indicators
| X03F.DE | EL4S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.47% | -9.45% | -13.02% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -1.03% | -2.45% |
Max Drawdown (3Y)Largest decline over 3 years | -3.97% | -1.03% | -2.94% |
Max Drawdown (5Y)Largest decline over 5 years | -21.57% | -5.86% | -15.71% |
Max Drawdown (10Y)Largest decline over 10 years | -22.47% | -9.43% | -13.04% |
Current DrawdownCurrent decline from peak | -14.42% | -2.07% | -12.35% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -2.17% | -3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 0.33% | +1.13% |
Volatility
X03F.DE vs. EL4S.DE - Volatility Comparison
Xtrackers II Eurozone Government Bond UCITS ETF (X03F.DE) has a higher volatility of 1.16% compared to Deka Deutsche Boerse EUROGOV Germany 1-3 UCITS ETF (EL4S.DE) at 0.33%. This indicates that X03F.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.
Loading charts...
Volatility by Period
| X03F.DE | EL4S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.33% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 3.73% | 1.00% | +2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 1.15% | +3.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 1.47% | +4.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 1.13% | +4.13% |
X03F.DE vs. EL4S.DE - Expense Ratio Comparison
X03F.DE has a 0.09% expense ratio, which is lower than EL4S.DE's 0.15% 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
X03F.DE vs. EL4S.DE - Dividend Comparison
X03F.DE's dividend yield for the trailing twelve months is around 2.31%, more than EL4S.DE's 1.49% 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 | 1.49% | 1.20% | 0.83% | 0.60% | 0.88% | 0.94% | 0.78% | 1.06% | 0.99% | 1.63% | 1.46% | 1.60% |
X03F.DE Xtrackers II Eurozone Government Bond UCITS ETF | 2.31% | 2.20% | 2.01% | 1.84% | 3.07% | 1.88% | 0.30% | 0.34% | 0.61% | 0.83% | 1.12% | 0.48% |
Frequently Asked Questions
X03F.DE and EL4S.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, X03F.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
X03F.DE is cheaper with a 0.09% expense ratio, compared with 0.15% for EL4S.DE.
X03F.DE tracks iBoxx® EUR Sovereigns Eurozone, while EL4S.DE tracks Deutsche Börse EUROGOV® Germany 1-3. They also come from different issuers: Xtrackers and Deka. Their fees differ too: 0.09% for X03F.DE and 0.15% for EL4S.DE.
Find the right allocation for X03F.DE and EL4S.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer