ASRE.DE vs. VALD.DE

Last updated Jun 5, 2026

ASRE.DE (BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF) and VALD.DE (BNP Paribas Easy ESG Value Europe UCITS ETF) 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 VALD.DE is a Europe Equities fund tracking the BNP Paribas Value Europe ESG. Both are passively managed. Over the past 5 years, ASRE.DE returned -0.36%/yr vs 7.81%/yr for VALD.DE. At a 0.13 correlation, their price movements are largely independent. ASRE.DE charges 0.15%/yr vs 0.30%/yr for VALD.DE.

Performance

ASRE.DE vs. VALD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF (ASRE.DE) and BNP Paribas Easy ESG Value Europe UCITS ETF (VALD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASRE.DE achieves a -0.12% return, which is significantly lower than VALD.DE's 10.40% 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*: —

VALD.DE

• 1D: 0.88%
• 1M: 1.88%
• YTD: 10.40%
• 6M: 13.48%
• 1Y: 18.73%
• 3Y*: 16.67%
• 5Y*: 7.81%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASRE.DE vs. VALD.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%
VALD.DE BNP Paribas Easy ESG Value Europe UCITS ETF	10.40%	23.55%	9.24%	14.99%	-19.44%	19.47%

Correlation

The correlation between ASRE.DE and VALD.DE is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021	0.13

Over the past year, ASRE.DE and VALD.DE have become more correlated (0.39) than their long-term average of 0.13, meaning their price movements have been converging.

Return for Risk

ASRE.DE vs. VALD.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASRE.DE

ASRE.DE Risk / Return Rank: 10
ASRE.DE Sharpe Ratio Rank: 11
ASRE.DE Sortino Ratio Rank: 10
ASRE.DE Omega Ratio Rank: 10
ASRE.DE Calmar Ratio Rank: 11
ASRE.DE Martin Ratio Rank: 11

VALD.DE

VALD.DE Risk / Return Rank: 49
VALD.DE Sharpe Ratio Rank: 47
VALD.DE Sortino Ratio Rank: 47
VALD.DE Omega Ratio Rank: 48
VALD.DE Calmar Ratio Rank: 50
VALD.DE Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASRE.DE vs. VALD.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 ESG Value Europe UCITS ETF (VALD.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	VALD.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.14	1.62	-1.48
Sortino ratio: Return per unit of downside risk	0.21	2.30	-2.09
Omega ratio: Gain probability vs. loss probability	1.03	1.30	-0.27
Calmar ratio: Return relative to maximum drawdown	0.15	2.47	-2.33
Martin ratio: Return relative to average drawdown	0.41	8.35	-7.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASRE.DE vs. VALD.DE - Sharpe Ratio Comparison

The current ASRE.DE Sharpe Ratio is 0.14, which is lower than the VALD.DE Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of ASRE.DE and VALD.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ASRE.DE	VALD.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	1.62	-1.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.54	-0.63
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.39	-0.49

Drawdowns

ASRE.DE vs. VALD.DE - Drawdown Comparison

The maximum ASRE.DE drawdown since its inception was -12.01%, smaller than the maximum VALD.DE drawdown of -41.02%. Use the drawdown chart below to compare losses from any high point for ASRE.DE and VALD.DE.

Drawdown Indicators

	ASRE.DE	VALD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-12.01%	-41.02%	+29.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.40%	-7.54%	+5.14%
Max Drawdown (3Y) Largest decline over 3 years	-2.40%	-14.17%	+11.77%
Max Drawdown (5Y) Largest decline over 5 years	-12.01%	-31.14%	+19.13%
Current Drawdown Current decline from peak	-2.42%	-0.96%	-1.46%
Average Drawdown Average peak-to-trough decline	-5.22%	-8.18%	+2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	2.24%	-1.39%

Volatility

ASRE.DE vs. VALD.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 ESG Value Europe UCITS ETF (VALD.DE) has a volatility of 3.80%. This indicates that ASRE.DE experiences smaller price fluctuations and is considered to be less risky than VALD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASRE.DE	VALD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	3.80%	-2.77%
Volatility (6M) Calculated over the trailing 6-month period	2.28%	9.29%	-7.01%
Volatility (1Y) Calculated over the trailing 1-year period	2.57%	11.54%	-8.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.60%	14.41%	-10.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.52%	15.89%	-12.37%

ASRE.DE vs. VALD.DE - Expense Ratio Comparison

ASRE.DE has a 0.15% expense ratio, which is lower than VALD.DE's 0.30% expense ratio.

Dividends

ASRE.DE vs. VALD.DE - Dividend Comparison

ASRE.DE has not paid dividends to shareholders, while VALD.DE's dividend yield for the trailing twelve months is around 3.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
VALD.DE BNP Paribas Easy ESG Value Europe UCITS ETF	3.00%	3.36%	3.35%	3.36%	3.99%	2.17%	5.02%	4.92%	4.84%

Frequently Asked Questions

Can I hold both ASRE.DE and VALD.DE in my portfolio?

ASRE.DE and VALD.DE have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ASRE.DE or VALD.DE?

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.

Which ETF is cheaper, ASRE.DE or VALD.DE?

ASRE.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for VALD.DE.

What is the main difference between ASRE.DE and VALD.DE?

ASRE.DE is categorized as European Government Bonds, while VALD.DE is Europe Equities. ASRE.DE tracks J.P. Morgan ESG EMU Government Bond IG 3-5 Year, while VALD.DE tracks BNP Paribas Value Europe ESG. Their fees differ too: 0.15% for ASRE.DE and 0.30% for VALD.DE.