ASRE.DE vs. GSDE.DE
ASRE.DE (BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF) and GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) are both exchange-traded funds - ASRE.DE is a European Government Bonds fund tracking the J.P. Morgan ESG EMU Government Bond IG 3-5 Year, while GSDE.DE is a Commodities fund tracking the BNP Paribas Energy & Metals Enhanced Roll. Both are passively managed. Over the past 5 years, ASRE.DE returned -0.36%/yr vs 14.84%/yr for GSDE.DE. At a correlation of -0.09, they often move in opposite directions. ASRE.DE charges 0.15%/yr vs 0.39%/yr for GSDE.DE.
Performance
ASRE.DE vs. GSDE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ASRE.DE achieves a -0.12% return, which is significantly lower than GSDE.DE's 23.86% return.
ASRE.DE
- 1D
- 0.06%
- 1M
- 0.36%
- YTD
- -0.12%
- 6M
- -0.11%
- 1Y
- 0.35%
- 3Y*
- 2.70%
- 5Y*
- -0.36%
- 10Y*
- —
GSDE.DE
- 1D
- -0.69%
- 1M
- -0.24%
- YTD
- 23.86%
- 6M
- 26.63%
- 1Y
- 44.74%
- 3Y*
- 15.82%
- 5Y*
- 14.84%
- 10Y*
- 9.70%
ASRE.DE vs. GSDE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ASRE.DE BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF | -0.12% | 2.42% | 2.13% | 5.11% | -9.94% | -0.79% |
GSDE.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR | 23.86% | 13.74% | 14.93% | -12.88% | 21.59% | 25.52% |
Correlation
The correlation between ASRE.DE and GSDE.DE is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | -0.09 |
Over the past year, the inverse relationship between ASRE.DE and GSDE.DE has strengthened: their correlation has moved from -0.09 to -0.30, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
ASRE.DE vs. GSDE.DE — Risk / Return Rank
ASRE.DE
GSDE.DE
ASRE.DE vs. GSDE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF (ASRE.DE) and BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.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.
| ASRE.DE | GSDE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.70 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.43 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 5.65 | -5.50 |
| Martin ratioReturn relative to average drawdown | 0.41 | 12.60 | -12.18 |
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
| ASRE.DE | GSDE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.14 | 2.37 | -2.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.82 | -0.92 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.09 | -0.19 |
Drawdowns
ASRE.DE vs. GSDE.DE - Drawdown Comparison
The maximum ASRE.DE drawdown since its inception was -12.01%, smaller than the maximum GSDE.DE drawdown of -68.91%. Use the drawdown chart below to compare losses from any high point for ASRE.DE and GSDE.DE.
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Drawdown Indicators
| ASRE.DE | GSDE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.01% | -68.91% | +56.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -7.89% | +5.49% |
Max Drawdown (3Y)Largest decline over 3 years | -2.40% | -15.25% | +12.85% |
Max Drawdown (5Y)Largest decline over 5 years | -12.01% | -29.72% | +17.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.72% | — |
Current DrawdownCurrent decline from peak | -2.42% | -6.40% | +3.98% |
Average DrawdownAverage peak-to-trough decline | -5.22% | -44.09% | +38.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 3.54% | -2.69% |
Volatility
ASRE.DE vs. GSDE.DE - Volatility Comparison
The current volatility for BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF (ASRE.DE) is 1.03%, while BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) has a volatility of 4.51%. This indicates that ASRE.DE experiences smaller price fluctuations and is considered to be less risky than GSDE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ASRE.DE | GSDE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 4.51% | -3.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 16.35% | -14.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.57% | 18.80% | -16.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.60% | 17.84% | -14.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.52% | 15.76% | -12.24% |
ASRE.DE vs. GSDE.DE - Expense Ratio Comparison
ASRE.DE has a 0.15% expense ratio, which is lower than GSDE.DE's 0.39% expense ratio.
Dividends
ASRE.DE vs. GSDE.DE - Dividend Comparison
Neither ASRE.DE nor GSDE.DE has paid dividends to shareholders.
Frequently Asked Questions
ASRE.DE and GSDE.DE have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ASRE.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ASRE.DE is cheaper with a 0.15% expense ratio, compared with 0.39% for GSDE.DE.
ASRE.DE is categorized as European Government Bonds, while GSDE.DE is Commodities. ASRE.DE tracks J.P. Morgan ESG EMU Government Bond IG 3-5 Year, while GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll. Their fees differ too: 0.15% for ASRE.DE and 0.39% for GSDE.DE.
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