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EL48 ETF · Deka iBoxx € Liquid Germany Covered Diversified UCITS ETF
The EL48 Exchange Traded Fund (ETF) is provided by Deka. It is built to track an index: Markit iBoxx EUR Liquid Germany Covered Diversified 1-10 Index. The EL48 ETF provides physical exposure, so by buying it you actually own parts of all the 30 underlying holdings. This share class generates a stream of income by distributing dividends.
Real-time data unavailable for EL48
LIVE
CLOSED
This fund is part ofEUR Corp IG Bonds1M perf.-3.84%
Last price
N/A
1M perf.
-0.87%
1M flows
+€3M
AuM
€51M
E/R
0.09%
Rating
ESG Consensus®
EL48
N/A
Performance & flows
Segment for quartile rank
December 12, 2025 → March 12, 2026
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EL48
€99.74
+0.23%
EUR Corp IG Bonds
-1.73%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | -0.87%  | +0.22% | +2.44%  | +9.68% | -6.77% | -1.32% | +0.01% | +0.01% | |
| Flows |
Key fund info
Segment for quartile rank
Main characteristics
More details
NAV
3/12/2026
€99.69
1D NAV change
-0.10%
Dividend policy
Replication method
Direct (Physical)
Replication model
Full replication
No. of holdings
30
Inception date
12/16/2009
Jurisdiction
Germany
Distribution
Germany
Legal structure
Contractual Fund
Base currency
EUR
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Product type
Benchmark
Markit iBoxx EUR Liquid Germany Covered Diversified 1-10 Index
Asset class
Factors
N/A
Investment strategy
The Deka iBoxx EUR Liquid Ger. Covered Diversified UCITS ETF is a UCITS IV compliant exchange traded fund incorporated in Germany. The Fund's objective is to track the performance of the iBoxx Liquid Germany Covered Diversified Index (Price Index). The maximum number of bonds in the index is limited to 30. Only bonds with an outstanding volume of at least 1 bn Euros qualify for the index.
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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Risk profile
Segment for quartile rank
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +0.22%  | +2.44% | +9.68% | -6.77% |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
N/A
PRIIPS
N/A
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Countries
Germany
97.12%
Unavailable
2.88%
Sectors
Banks
84.64%
Unavailable
15.36%
Diversification
Total weight of top 15 holdings out of 30
Top 15 holdings
Data as of January 31, 2026
ING-DiBa AG, 0.625% 25feb2029, EUR (21)
Landesbank Hessen-Thueringen (Helaba), 2.875% 6feb2034, EUR
Commerzbank, 2.5% 25feb2028, EUR
UniCredit Bank AG, 2.625% 19feb2030, EUR
Commerzbank, 2.75% 20dec2029, EUR
Commerzbank, 2.75% 9jan2031, EUR
Landesbank Hessen-Thueringen (Helaba), 0.01% 19jul2027, EUR
Muenchener Hypothekenbank, 1.875% 25aug2032, EUR
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ING-DiBa AG, 3.25% 15feb2028, EUR
DZ Hyp, 3.25% 31may2033, EUR (1258)
Deutsche Bank, 3% 28mar2028, EUR
Berlin Hyp, 2.625% 5feb2029, EUR
Landesbank Baden-Wuerttemberg (LBBW), 3% 16feb2034, EUR
Muenchener Hypothekenbank, 3% 4aug2027, EUR
Landesbank Baden-Wuerttemberg (LBBW), 2.625% 20feb2030, EUR
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Enterprise
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Integrates ESG criteria
No
SDG
ESG Consensus® by Conser
Data as of December 31, 2025
MethodologyOur partner Conser gathers the industry's consensus on the business practices of the underlying holdings. We have computed the following metrics about EL48 ETF's sustainability, based on their methodology.
ESG Consensus®
ESG Consensus® is based on the Final Sustainability Grade, which itself consists of 10 grades. Our partner Conser calculates the exact grade, based on market intelligence, using their proprietary ESG Consensus® methodology.
EL48’s has a Final Sustainability Grade of either A+, A, or A-.
A+
A
A-
B+
B
B-
C+
C
C-
D
This fund’s exact Final Sustainability Grade is available in Trackinsight Enterprise.
Learn more about Trackinsight EnterpriseHoldings review
93.54% of holdings have positive scoring
6.23% of holdings have negative scoring
67.94%
22.46%
6.23%
Consensus levels
Strong
Medium
Weak
No data on remaining < 1% of holdings
Built for professionals: access exclusive sustainability metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseReplication
Trackinsight replication rating:
Replication quality
Calculated over 12m, as of February 27, 2026
Tracking error
Tracking difference
Replication information
Index
Markit iBoxx EUR Liquid Germany Covered Diversified 1-10 Total Return Index - EUR
Index ticker
IBOXGCTR Index
Index dividend policy
GTR
Replication method
Replication model
Built for professionals: access exclusive replication metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseIssuer
Deka
Deka ID Card
Number of funds
55
Total AuM
€19.56B
Expense ratio range
0.07% - 0.65%
Average expense ratio
0.2667%
Top 5 funds by Deka
| AuM | ||
|---|---|---|
ELFW | Deka MSCI World UCITS ETF | €4.49B |
EL4A | Deka DAX UCITS ETF | €1.7B |
EL42 | Deka MSCI Europe UCITS ETF | €1.47B |
D6RP | Deka MSCI World Climate Change ESG UCITS ETF | €1.47B |
EL4B | Deka EURO STOXX 50 UCITS ETF | €1.21B |
Frequently asked questions about EL48
What does Deka iBoxx € Liquid Germany Covered Diversified UCITS ETF, EL48, invest in?
EL48 is a Passive ETF. This ETF provides exposure to German Financial Services Investment Grade Corporate Bonds.
Which benchmark or index does EL48 replicate?
EL48 tracks the Markit iBoxx EUR Liquid Germany Covered Diversified 1-10 Total Return Index - EUR, through a full replication replication method.
What is the Total Expense ratio (TER) of EL48?
EL48 carries a total expense ratio (TER) of 0.09%, indicating the annual cost for holding the fund.
When was EL48 launched?
EL48 was introduced to the market on December 16, 2009. It trades on Germany
Who is the ETF issuer of EL48?
Deka iBoxx € Liquid Germany Covered Diversified UCITS ETF, EL48, is provided by Deka. Learn more about Deka here.
What is the current assets under management (AUM) of EL48?
EL48 oversees €51M in assets as of March 12, 2026.
How has EL48 performed lately?
Based on data from March 12, 2026, EL48 returned -0.87% over the past month, 0.22% over the last three months and 0.01% year-to-date.
What are the latest inflows or outflows for EL48?
As of March 12, 2026, EL48 recorded net flows of +€3M over the last month and +€5.5M year-to-date.
Does EL48 distribute dividends?
EL48 follows a distributing dividend policy, meaning it pays out income to investors. As of March 12, 2026, its 12-month trailing yield was 2.56%.
What are the main country or region exposures of EL48?
As of January 31, 2026, EL48 has significant geographic allocations in Germany.
In which sector or theme does EL48 invest in?
As of January 31, 2026, EL48 focuses largely on Banks.
How many securities does EL48 hold and how diversified is it?
As of January 31, 2026, EL48 holds 30 positions in its portfolio, with 54.00% of assets concentrated in its top 15 holdings.
What are the main positions in EL48?
As of January 31, 2026, EL48 top three holdings include ING-DiBa AG, 0.625% 25feb2029, EUR (21), Landesbank Hessen-Thueringen (Helaba), 2.875% 6feb2034, EUR and Commerzbank, 2.5% 25feb2028, EUR.
What is the base currency of EL48?
The base currency of EL48 is EUR.
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