Here is a more robust (but less efficient, I fear) way: What you describe is exactly the modulo operation. A 4-bit binary number is the remainder after a division by 0b10000 = 16. This can be done using the mod function in MATLAB.
>> e = dec2bin(mod(bin2dec('1001') + bin2dec('1000'),16),4)
e =
0001
Note: I added 4 as additional argument to the dec2bin function, so the output will always be 4-bit wide.
This can of course be generalized to any bit width: If you want to add 8-bit numbers, you will need the remainder of the division by 0b1'0000'0000 = 256, for example
>> e = dec2bin(mod(bin2dec('10011001') + bin2dec('10001000'),256),8)
e =
00100001
Or for shorter numbers, e.g. 2-bit wide, it is 0b100 = 4:
>> e = dec2bin(mod(bin2dec('10') + bin2dec('11'),4),2)
e =
01