ASRE.DE vs. XGEZ.DE
ASRE.DE (BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF) and XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) are both European Government Bonds funds - ASRE.DE tracks the J.P. Morgan ESG EMU Government Bond IG 3-5 Year while XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. Both are passively managed. Over the past 3 years, ASRE.DE returned 2.96%/yr vs 1.15%/yr for XGEZ.DE. Their correlation of 0.89 suggests significant overlap in exposure. ASRE.DE charges 0.15%/yr vs 0.18%/yr for XGEZ.DE.
Performance
ASRE.DE vs. XGEZ.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 XGEZ.DE's 1.60% 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*
- —
XGEZ.DE
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 1.60%
- 6M
- 1.74%
- 1Y
- 0.26%
- 3Y*
- 1.15%
- 5Y*
- —
- 10Y*
- —
ASRE.DE vs. XGEZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ASRE.DE BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF | 0.49% | 2.42% | 2.13% | 5.11% | -0.85% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 1.60% | -2.16% | -0.51% | 8.88% | -0.36% |
Correlation
The correlation between ASRE.DE and XGEZ.DE is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2022 | 0.89 |
The correlation between ASRE.DE and XGEZ.DE has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.
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Return for Risk
ASRE.DE vs. XGEZ.DE — Risk / Return Rank
ASRE.DE
XGEZ.DE
ASRE.DE vs. XGEZ.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 Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.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 | XGEZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.01 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | 0.06 | +0.37 |
| Martin ratioReturn relative to average drawdown | 1.14 | 0.12 | +1.01 |
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Drawdowns
ASRE.DE vs. XGEZ.DE - Drawdown Comparison
The maximum ASRE.DE drawdown since its inception was -12.01%, smaller than the maximum XGEZ.DE drawdown of -13.63%. Use the drawdown chart below to compare losses from any high point for ASRE.DE and XGEZ.DE.
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Drawdown Indicators
| ASRE.DE | XGEZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.01% | -13.63% | +1.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -4.70% | +2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -2.40% | -7.88% | +5.48% |
Max Drawdown (5Y)Largest decline over 5 years | -12.01% | — | — |
Current DrawdownCurrent decline from peak | -1.82% | -3.99% | +2.17% |
Average DrawdownAverage peak-to-trough decline | -5.11% | -5.39% | +0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 2.11% | -1.21% |
Volatility
ASRE.DE vs. XGEZ.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 Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a volatility of 1.75%. This indicates that ASRE.DE experiences smaller price fluctuations and is considered to be less risky than XGEZ.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 | XGEZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 1.75% | -1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 5.23% | -2.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.56% | 6.42% | -3.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.61% | 9.92% | -6.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.48% | 9.92% | -6.44% |
ASRE.DE vs. XGEZ.DE - Expense Ratio Comparison
ASRE.DE has a 0.15% expense ratio, which is lower than XGEZ.DE's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ASRE.DE vs. XGEZ.DE - Dividend Comparison
ASRE.DE has not paid dividends to shareholders, while XGEZ.DE's dividend yield for the trailing twelve months is around 2.06%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ASRE.DE BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.06% | 1.99% | 2.07% | 1.27% |
Frequently Asked Questions
ASRE.DE and XGEZ.DE have a correlation of 0.86, 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 0.18% for XGEZ.DE.
ASRE.DE tracks J.P. Morgan ESG EMU Government Bond IG 3-5 Year, while XGEZ.DE tracks iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. They also come from different issuers: BNP Paribas and Xtrackers. Their fees differ too: 0.15% for ASRE.DE and 0.18% for XGEZ.DE.
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