XGEZ.DE vs. EL4P.DE
XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) and EL4P.DE (Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF) are both European Government Bonds funds - XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped while EL4P.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 7-10. Both are passively managed. Over the past 3 years, XGEZ.DE returned 1.15%/yr vs 2.88%/yr for EL4P.DE. With a 0.96 correlation, they move nearly in lockstep. XGEZ.DE charges 0.18%/yr vs 0.15%/yr for EL4P.DE.
Performance
XGEZ.DE vs. EL4P.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XGEZ.DE achieves a 1.60% return, which is significantly higher than EL4P.DE's 1.47% return.
XGEZ.DE
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 1.60%
- 6M
- 1.74%
- 1Y
- 0.26%
- 3Y*
- 1.15%
- 5Y*
- —
- 10Y*
- —
EL4P.DE
- 1D
- 0.05%
- 1M
- 0.99%
- YTD
- 1.47%
- 6M
- 1.68%
- 1Y
- 1.84%
- 3Y*
- 2.88%
- 5Y*
- -2.03%
- 10Y*
- -0.06%
XGEZ.DE vs. EL4P.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 1.60% | -2.16% | -0.51% | 8.88% | -0.36% |
EL4P.DE Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF | 1.47% | 1.64% | 1.06% | 8.67% | -0.99% |
Correlation
The correlation between XGEZ.DE and EL4P.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2022 | 0.96 |
The correlation between XGEZ.DE and EL4P.DE has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
XGEZ.DE vs. EL4P.DE — Risk / Return Rank
XGEZ.DE
EL4P.DE
XGEZ.DE vs. EL4P.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 7-10 UCITS ETF (EL4P.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.
| XGEZ.DE | EL4P.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.07 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 0.45 | -0.39 |
| Martin ratioReturn relative to average drawdown | 0.12 | 1.16 | -1.04 |
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Drawdowns
XGEZ.DE vs. EL4P.DE - Drawdown Comparison
The maximum XGEZ.DE drawdown since its inception was -13.63%, smaller than the maximum EL4P.DE drawdown of -23.49%. Use the drawdown chart below to compare losses from any high point for XGEZ.DE and EL4P.DE.
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Drawdown Indicators
| XGEZ.DE | EL4P.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.63% | -23.49% | +9.86% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -4.09% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -7.88% | -4.43% | -3.45% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.49% | — |
Current DrawdownCurrent decline from peak | -3.99% | -12.62% | +8.63% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -5.57% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 1.58% | +0.53% |
Volatility
XGEZ.DE vs. EL4P.DE - Volatility Comparison
Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a higher volatility of 1.75% compared to Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF (EL4P.DE) at 1.28%. This indicates that XGEZ.DE's price experiences larger fluctuations and is considered to be riskier than EL4P.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 | EL4P.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 1.28% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 5.23% | 4.13% | +1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.42% | 4.93% | +1.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.92% | 7.49% | +2.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 6.06% | +3.86% |
XGEZ.DE vs. EL4P.DE - Expense Ratio Comparison
XGEZ.DE has a 0.18% expense ratio, which is higher than EL4P.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. EL4P.DE - Dividend Comparison
XGEZ.DE's dividend yield for the trailing twelve months is around 2.06%, less than EL4P.DE's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4P.DE Deka iBoxx EUR Liquid Sovereign Diversified 7-10 UCITS ETF | 3.59% | 2.66% | 1.83% | 1.37% | 0.39% | 0.62% | 0.83% | 1.08% | 0.64% | 1.41% | 1.80% | 2.32% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.06% | 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
With a correlation of 0.92, XGEZ.DE and EL4P.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, EL4P.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EL4P.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 EL4P.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 7-10. They also come from different issuers: Xtrackers and Deka. Their fees differ too: 0.18% for XGEZ.DE and 0.15% for EL4P.DE.
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