ASRE.DE vs. SYBG.DE
ASRE.DE (BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF) and SYBG.DE (SPDR Bloomberg UK Gilt UCITS ETF) are both European Government Bonds funds - ASRE.DE tracks the J.P. Morgan ESG EMU Government Bond IG 3-5 Year while SYBG.DE tracks the Bloomberg UK Gilt. Both are passively managed. Over the past 5 years, ASRE.DE returned -0.19%/yr vs -4.68%/yr for SYBG.DE. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
ASRE.DE vs. SYBG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ASRE.DE achieves a 0.49% return, which is significantly lower than SYBG.DE's 1.73% return.
ASRE.DE
- 1D
- 0.00%
- 1M
- 0.47%
- YTD
- 0.49%
- 6M
- 0.63%
- 1Y
- 1.02%
- 3Y*
- 2.96%
- 5Y*
- -0.19%
- 10Y*
- —
SYBG.DE
- 1D
- 0.06%
- 1M
- 2.08%
- YTD
- 1.73%
- 6M
- 2.20%
- 1Y
- 1.77%
- 3Y*
- 2.55%
- 5Y*
- -4.68%
- 10Y*
- -1.64%
ASRE.DE vs. SYBG.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 | 0.49% | 2.42% | 2.13% | 5.11% | -9.94% | -0.99% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 1.73% | 0.15% | 0.07% | 5.36% | -28.98% | 1.44% |
Correlation
The correlation between ASRE.DE and SYBG.DE is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021 | 0.68 |
The correlation between ASRE.DE and SYBG.DE has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.
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Return for Risk
ASRE.DE vs. SYBG.DE — Risk / Return Rank
ASRE.DE
SYBG.DE
ASRE.DE vs. SYBG.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 SPDR Bloomberg UK Gilt UCITS ETF (SYBG.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.
| ASRE.DE | SYBG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.04 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | 0.33 | +0.10 |
| Martin ratioReturn relative to average drawdown | 1.14 | 0.77 | +0.37 |
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Drawdowns
ASRE.DE vs. SYBG.DE - Drawdown Comparison
The maximum ASRE.DE drawdown since its inception was -12.01%, smaller than the maximum SYBG.DE drawdown of -36.66%. Use the drawdown chart below to compare losses from any high point for ASRE.DE and SYBG.DE.
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Drawdown Indicators
| ASRE.DE | SYBG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.01% | -36.66% | +24.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -5.42% | +3.02% |
Max Drawdown (3Y)Largest decline over 3 years | -2.40% | -8.78% | +6.38% |
Max Drawdown (5Y)Largest decline over 5 years | -12.01% | -36.25% | +24.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.66% | — |
Current DrawdownCurrent decline from peak | -1.82% | -26.43% | +24.61% |
Average DrawdownAverage peak-to-trough decline | -5.11% | -13.42% | +8.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 2.08% | -1.18% |
Volatility
ASRE.DE vs. SYBG.DE - Volatility Comparison
The current volatility for BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF (ASRE.DE) is 0.67%, while SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE) has a volatility of 1.73%. This indicates that ASRE.DE experiences smaller price fluctuations and is considered to be less risky than SYBG.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 | SYBG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 1.73% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 6.10% | -3.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.56% | 8.13% | -5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.61% | 11.76% | -8.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.48% | 13.84% | -10.36% |
ASRE.DE vs. SYBG.DE - Expense Ratio Comparison
Both ASRE.DE and SYBG.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ASRE.DE vs. SYBG.DE - Dividend Comparison
ASRE.DE has not paid dividends to shareholders, while SYBG.DE's dividend yield for the trailing twelve months is around 3.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASRE.DE BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 3.73% | 3.64% | 2.65% | 1.69% | 1.22% | 0.82% | 1.11% | 1.14% | 1.27% | 1.60% | 1.77% | 1.89% |
Frequently Asked Questions
ASRE.DE and SYBG.DE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ASRE.DE and SYBG.DE have the same expense ratio: 0.15% per year.
ASRE.DE tracks J.P. Morgan ESG EMU Government Bond IG 3-5 Year, while SYBG.DE tracks Bloomberg UK Gilt. They also come from different issuers: BNP Paribas and State Street.
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