XEON.DE vs. EL4W.DE
XEON.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C) and EL4W.DE (Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF) are both Money Market funds - XEON.DE tracks the Solactive €STR +8.5 Daily Index while EL4W.DE tracks the Deutsche Börse EUROGOV Germany Money Market Index. Both are passively managed. Over the past 10 years, XEON.DE returned 0.73%/yr vs 0.24%/yr for EL4W.DE. At a 0.13 correlation, their price movements are largely independent. XEON.DE charges 0.10%/yr vs 0.12%/yr for EL4W.DE.
Performance
XEON.DE vs. EL4W.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XEON.DE achieves a 1.04% return, which is significantly higher than EL4W.DE's 0.92% return. Over the past 10 years, XEON.DE has outperformed EL4W.DE with an annualized return of 0.73%, while EL4W.DE has yielded a comparatively lower 0.24% annualized return.
XEON.DE
- 1D
- 0.00%
- 1M
- 0.18%
- 6M
- 1.00%
- YTD
- 1.04%
- 1Y
- 1.97%
- 3Y*
- 2.95%
- 5Y*
- 2.00%
- 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%
XEON.DE vs. EL4W.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | 1.04% | 2.25% | 3.78% | 3.30% | -0.04% | -0.58% | -0.57% | -0.49% | -0.47% | -0.52% |
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 XEON.DE and EL4W.DE is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2009 | 0.13 |
The correlation between XEON.DE and EL4W.DE shifts across timeframes, from -0.03 (1 year) to 0.14 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
XEON.DE vs. EL4W.DE — Risk / Return Rank
XEON.DE
EL4W.DE
XEON.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 1C (XEON.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.
| XEON.DE | EL4W.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.89 | ||
| Sortino ratioReturn per unit of downside risk | +16.49 | ||
| Omega ratioGain probability vs. loss probability | 4.51 | 1.82 | +2.69 |
| Calmar ratioReturn relative to maximum drawdown | 69.47 | 11.67 | +57.80 |
| Martin ratioReturn relative to average drawdown | 325.05 | 68.70 | +256.35 |
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Drawdowns
XEON.DE vs. EL4W.DE - Drawdown Comparison
The maximum XEON.DE drawdown since its inception was -3.71%, smaller than the maximum EL4W.DE drawdown of -8.19%. Use the drawdown chart below to compare losses from any high point for XEON.DE and EL4W.DE.
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Drawdown Indicators
| XEON.DE | EL4W.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.71% | -8.19% | +4.48% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -0.14% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -0.64% | +0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -0.65% | -1.64% | +0.99% |
Max Drawdown (10Y)Largest decline over 10 years | -3.20% | -6.23% | +3.03% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.88% | -3.10% | +2.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.02% | -0.01% |
Volatility
XEON.DE vs. EL4W.DE - Volatility Comparison
The current volatility for Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) is 0.05%, while Deka Deutsche Börse EUROGOV Germany Money Market UCITS ETF (EL4W.DE) has a volatility of 0.14%. This indicates that XEON.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
| XEON.DE | EL4W.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.14% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 0.38% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.22% | 0.52% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.25% | 0.80% | -0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.39% | 0.94% | -0.55% |
XEON.DE vs. EL4W.DE - Expense Ratio Comparison
XEON.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
XEON.DE vs. EL4W.DE - Dividend Comparison
XEON.DE has not paid dividends to shareholders, while EL4W.DE's dividend yield for the trailing twelve months is around 2.08%.
| 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% |
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XEON.DE and EL4W.DE have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEON.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEON.DE is cheaper with a 0.10% expense ratio, compared with 0.12% for EL4W.DE.
XEON.DE tracks Solactive €STR +8.5 Daily Index, 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 XEON.DE and 0.12% for EL4W.DE.
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