XGEZ.DE vs. EL4M.DE
XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) and EL4M.DE (Deka iBoxx EUR Liquid Sovereign Diversified 3-5 UCITS ETF) are both European Government Bonds funds - XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped while EL4M.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 3-5. Both are passively managed. Over the past 3 years, XGEZ.DE returned 1.19%/yr vs 2.75%/yr for EL4M.DE. Their correlation of 0.87 suggests significant overlap in exposure. XGEZ.DE charges 0.18%/yr vs 0.15%/yr for EL4M.DE.
Performance
XGEZ.DE vs. EL4M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XGEZ.DE achieves a 0.02% return, which is significantly higher than EL4M.DE's -0.10% return.
XGEZ.DE
- 1D
- 0.09%
- 1M
- -0.02%
- YTD
- 0.02%
- 6M
- -0.16%
- 1Y
- -1.07%
- 3Y*
- 1.19%
- 5Y*
- —
- 10Y*
- —
EL4M.DE
- 1D
- 0.08%
- 1M
- 0.06%
- YTD
- -0.10%
- 6M
- -0.01%
- 1Y
- 0.69%
- 3Y*
- 2.75%
- 5Y*
- -0.53%
- 10Y*
- -0.03%
XGEZ.DE vs. EL4M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 0.02% | -2.16% | -0.51% | 8.88% | 0.10% |
EL4M.DE Deka iBoxx EUR Liquid Sovereign Diversified 3-5 UCITS ETF | -0.10% | 2.42% | 2.21% | 5.36% | -0.54% |
Correlation
The correlation between XGEZ.DE and EL4M.DE is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022 | 0.87 |
The correlation between XGEZ.DE and EL4M.DE has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.
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Return for Risk
XGEZ.DE vs. EL4M.DE — Risk / Return Rank
XGEZ.DE
EL4M.DE
XGEZ.DE vs. EL4M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) and Deka iBoxx EUR Liquid Sovereign Diversified 3-5 UCITS ETF (EL4M.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.
| XGEZ.DE | EL4M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.02 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 0.14 | -0.48 |
| Martin ratioReturn relative to average drawdown | -0.72 | 0.39 | -1.11 |
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
| XGEZ.DE | EL4M.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | 0.13 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.13 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.01 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.47 | -0.31 |
Drawdowns
XGEZ.DE vs. EL4M.DE - Drawdown Comparison
The maximum XGEZ.DE drawdown since its inception was -13.63%, roughly equal to the maximum EL4M.DE drawdown of -13.53%. Use the drawdown chart below to compare losses from any high point for XGEZ.DE and EL4M.DE.
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Drawdown Indicators
| XGEZ.DE | EL4M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.63% | -13.53% | -0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -2.63% | -2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -7.89% | -2.63% | -5.26% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.20% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.53% | — |
Current DrawdownCurrent decline from peak | -5.48% | -3.72% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -2.58% | -2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 0.95% | +1.25% |
Volatility
XGEZ.DE vs. EL4M.DE - Volatility Comparison
Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a higher volatility of 2.47% compared to Deka iBoxx EUR Liquid Sovereign Diversified 3-5 UCITS ETF (EL4M.DE) at 1.19%. This indicates that XGEZ.DE's price experiences larger fluctuations and is considered to be riskier than EL4M.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGEZ.DE | EL4M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 1.19% | +1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 5.12% | 2.66% | +2.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.41% | 2.99% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.92% | 4.04% | +5.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 3.13% | +6.79% |
XGEZ.DE vs. EL4M.DE - Expense Ratio Comparison
XGEZ.DE has a 0.18% expense ratio, which is higher than EL4M.DE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XGEZ.DE vs. EL4M.DE - Dividend Comparison
XGEZ.DE's dividend yield for the trailing twelve months is around 2.10%, less than EL4M.DE's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4M.DE Deka iBoxx EUR Liquid Sovereign Diversified 3-5 UCITS ETF | 2.17% | 2.76% | 1.93% | 1.89% | 0.55% | 0.79% | 1.06% | 1.41% | 1.08% | 2.12% | 1.66% | 1.83% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.10% | 1.99% | 2.07% | 1.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XGEZ.DE and EL4M.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EL4M.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4M.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for XGEZ.DE.
XGEZ.DE tracks iBoxx® EUR Eurozone Sovereigns Green Bonds Capped, while EL4M.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 3-5. They also come from different issuers: Xtrackers and Deka. Their fees differ too: 0.18% for XGEZ.DE and 0.15% for EL4M.DE.
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