ASRD.DE vs. CGB.DE
ASRD.DE (BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged) and CGB.DE (Xtrackers II Harvest China Government Bond UCITS ETF (Dist)) are both Emerging Markets Bonds funds - ASRD.DE tracks the JP Morgan ESG EMBI Global Diversified (EUR Hedged) while CGB.DE tracks the FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index. Both are passively managed. Over the past 5 years, ASRD.DE returned -0.63%/yr vs 3.09%/yr for CGB.DE. At a correlation of -0.17, they often move in opposite directions. ASRD.DE charges 0.25%/yr vs 0.20%/yr for CGB.DE.
Performance
ASRD.DE vs. CGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ASRD.DE achieves a 0.46% return, which is significantly lower than CGB.DE's 8.16% return.
ASRD.DE
- 1D
- 0.00%
- 1M
- -0.70%
- 6M
- 0.65%
- YTD
- 0.46%
- 1Y
- 7.39%
- 3Y*
- 6.04%
- 5Y*
- -0.63%
- 10Y*
- —
CGB.DE
- 1D
- 0.35%
- 1M
- 1.57%
- 6M
- 7.02%
- YTD
- 8.16%
- 1Y
- 9.96%
- 3Y*
- 4.67%
- 5Y*
- 3.09%
- 10Y*
- 2.45%
ASRD.DE vs. CGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ASRD.DE BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged | 0.46% | 11.16% | 3.52% | 6.69% | -19.97% | -1.25% |
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 8.16% | -6.58% | 9.93% | -2.82% | -0.10% | 12.48% |
Correlation
The correlation between ASRD.DE and CGB.DE is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021 | -0.17 |
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Return for Risk
ASRD.DE vs. CGB.DE — Risk / Return Rank
ASRD.DE
CGB.DE
ASRD.DE vs. CGB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged (ASRD.DE) and Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.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.
| ASRD.DE | CGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 3.51 | -1.97 |
| Martin ratioReturn relative to average drawdown | 5.56 | 10.39 | -4.83 |
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Drawdowns
ASRD.DE vs. CGB.DE - Drawdown Comparison
The maximum ASRD.DE drawdown since its inception was -29.54%, which is greater than CGB.DE's maximum drawdown of -20.06%. Use the drawdown chart below to compare losses from any high point for ASRD.DE and CGB.DE.
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Drawdown Indicators
| ASRD.DE | CGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.54% | -20.06% | -9.48% |
Max Drawdown (1Y)Largest decline over 1 year | -4.77% | -2.83% | -1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -8.03% | -11.08% | +3.05% |
Max Drawdown (5Y)Largest decline over 5 years | -29.54% | -13.94% | -15.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.64% | — |
Current DrawdownCurrent decline from peak | -4.29% | -0.79% | -3.50% |
Average DrawdownAverage peak-to-trough decline | -12.79% | -9.26% | -3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 0.96% | +0.37% |
Volatility
ASRD.DE vs. CGB.DE - Volatility Comparison
The current volatility for BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged (ASRD.DE) is 0.96%, while Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.DE) has a volatility of 1.78%. This indicates that ASRD.DE experiences smaller price fluctuations and is considered to be less risky than CGB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ASRD.DE | CGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.78% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 5.00% | 4.02% | +0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.92% | 5.84% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.05% | 6.74% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.83% | 11.06% | -2.23% |
ASRD.DE vs. CGB.DE - Expense Ratio Comparison
ASRD.DE has a 0.25% expense ratio, which is higher than CGB.DE's 0.20% 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
ASRD.DE vs. CGB.DE - Dividend Comparison
ASRD.DE has not paid dividends to shareholders, while CGB.DE's dividend yield for the trailing twelve months is around 1.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ASRD.DE BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 1.99% | 2.40% | 2.37% | 2.97% | 4.40% | 2.17% | 2.15% | 2.56% | 0.72% | 2.64% | 0.38% |
Frequently Asked Questions
ASRD.DE and CGB.DE have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CGB.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CGB.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for ASRD.DE.
ASRD.DE tracks JP Morgan ESG EMBI Global Diversified (EUR Hedged), while CGB.DE tracks FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index. They also come from different issuers: BNP Paribas and Xtrackers. Their fees differ too: 0.25% for ASRD.DE and 0.20% for CGB.DE.
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