XEOD.DE vs. EL4W.DE
XEOD.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1D) and EL4W.DE (Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF) are both Money Market funds - XEOD.DE tracks the €STR + 8.5 bps while EL4W.DE tracks the Deutsche Börse EUROGOV Germany Money Market Index. Both are passively managed. Over the past 10 years, XEOD.DE returned 0.73%/yr vs 0.24%/yr for EL4W.DE. At a 0.14 correlation, their price movements are largely independent. XEOD.DE charges 0.10%/yr vs 0.12%/yr for EL4W.DE.
Performance
XEOD.DE vs. EL4W.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XEOD.DE achieves a 1.11% return, which is significantly higher than EL4W.DE's 0.92% return. Over the past 10 years, XEOD.DE has outperformed EL4W.DE with an annualized return of 0.73%, while EL4W.DE has yielded a comparatively lower 0.24% annualized return.
XEOD.DE
- 1D
- 0.00%
- 1M
- 0.22%
- 6M
- 1.04%
- YTD
- 1.11%
- 1Y
- 1.99%
- 3Y*
- 2.96%
- 5Y*
- 2.01%
- 10Y*
- 0.73%
EL4W.DE
- 1D
- 0.02%
- 1M
- 0.18%
- 6M
- 0.86%
- YTD
- 0.92%
- 1Y
- 1.69%
- 3Y*
- 2.60%
- 5Y*
- 1.45%
- 10Y*
- 0.24%
XEOD.DE vs. EL4W.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XEOD.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1D | 1.11% | 2.22% | 3.75% | 3.32% | -0.03% | -0.58% | -0.58% | -0.49% | -0.49% | -0.54% |
EL4W.DE Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF | 0.92% | 1.91% | 3.36% | 2.64% | -1.17% | -0.77% | -0.84% | -0.85% | -1.32% | -1.05% |
Correlation
The correlation between XEOD.DE and EL4W.DE is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2009 | 0.14 |
The correlation between XEOD.DE and EL4W.DE shifts across timeframes, from -0.08 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XEOD.DE vs. EL4W.DE — Risk / Return Rank
XEOD.DE
EL4W.DE
XEOD.DE vs. EL4W.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II EUR Overnight Rate Swap UCITS ETF 1D (XEOD.DE) and Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF (EL4W.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.
| XEOD.DE | EL4W.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.95 | ||
| Sortino ratioReturn per unit of downside risk | +6.51 | ||
| Omega ratioGain probability vs. loss probability | 2.74 | 1.82 | +0.92 |
| Calmar ratioReturn relative to maximum drawdown | 39.35 | 11.67 | +27.68 |
| Martin ratioReturn relative to average drawdown | 168.16 | 68.70 | +99.46 |
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Drawdowns
XEOD.DE vs. EL4W.DE - Drawdown Comparison
The maximum XEOD.DE drawdown since its inception was -8.62%, which is greater than EL4W.DE's maximum drawdown of -8.19%. Use the drawdown chart below to compare losses from any high point for XEOD.DE and EL4W.DE.
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Drawdown Indicators
| XEOD.DE | EL4W.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.62% | -8.19% | -0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -0.05% | -0.14% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -0.19% | -0.64% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -0.64% | -1.64% | +1.00% |
Max Drawdown (10Y)Largest decline over 10 years | -3.22% | -6.23% | +3.01% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -3.10% | +0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.02% | -0.01% |
Volatility
XEOD.DE vs. EL4W.DE - Volatility Comparison
The current volatility for Xtrackers II EUR Overnight Rate Swap UCITS ETF 1D (XEOD.DE) is 0.10%, while Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF (EL4W.DE) has a volatility of 0.14%. This indicates that XEOD.DE experiences smaller price fluctuations and is considered to be less risky than EL4W.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEOD.DE | EL4W.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 0.14% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.25% | 0.38% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.32% | 0.52% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.30% | 0.80% | -0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.25% | 0.94% | -0.69% |
XEOD.DE vs. EL4W.DE - Expense Ratio Comparison
XEOD.DE has a 0.10% expense ratio, which is lower than EL4W.DE's 0.12% 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
XEOD.DE vs. EL4W.DE - Dividend Comparison
XEOD.DE's dividend yield for the trailing twelve months is around 1.86%, less than EL4W.DE's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4W.DE Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF | 2.08% | 3.05% | 2.03% | 1.04% | 0.25% | 0.63% | 0.46% | 1.00% | 0.41% | 1.37% | 1.55% | 1.54% |
XEOD.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1D | 1.86% | 2.33% | 3.69% | 2.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.83% | 0.01% |
Frequently Asked Questions
XEOD.DE and EL4W.DE have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEOD.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEOD.DE is cheaper with a 0.10% expense ratio, compared with 0.12% for EL4W.DE.
XEOD.DE tracks €STR + 8.5 bps, while EL4W.DE tracks Deutsche Börse EUROGOV Germany Money Market Index. They also come from different issuers: Xtrackers and Deka. Their fees differ too: 0.10% for XEOD.DE and 0.12% for EL4W.DE.
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