ASRF.DE vs. AYE2.DE
ASRF.DE (BNP Paribas Easy EUR High Yield SRI Fossil Free UCITS ETF Acc) and AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) are both European High Yield Bonds funds - ASRF.DE tracks the Bloomberg MSCI Euro High Yield SRI Sustainable Ex Fossil Fuel while AYE2.DE tracks the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond. Both are passively managed. Over the past 5 years, ASRF.DE returned 2.26%/yr vs 2.45%/yr for AYE2.DE. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
ASRF.DE vs. AYE2.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ASRF.DE having a 0.70% return and AYE2.DE slightly higher at 0.71%.
ASRF.DE
- 1D
- 0.10%
- 1M
- 1.10%
- YTD
- 0.70%
- 6M
- 1.24%
- 1Y
- 3.56%
- 3Y*
- 6.65%
- 5Y*
- 2.26%
- 10Y*
- —
AYE2.DE
- 1D
- -0.10%
- 1M
- 0.88%
- YTD
- 0.71%
- 6M
- 1.00%
- 1Y
- 3.78%
- 3Y*
- 6.88%
- 5Y*
- 2.45%
- 10Y*
- —
ASRF.DE vs. AYE2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ASRF.DE BNP Paribas Easy EUR High Yield SRI Fossil Free UCITS ETF Acc | 0.70% | 4.66% | 6.57% | 11.42% | -11.08% | 1.06% |
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.71% | 5.88% | 6.36% | 10.77% | -10.72% | 0.77% |
Correlation
The correlation between ASRF.DE and AYE2.DE is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2021 | 0.68 |
The correlation between ASRF.DE and AYE2.DE has been stable across timeframes, ranging from 0.65 to 0.68 - a consistent structural relationship.
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Return for Risk
ASRF.DE vs. AYE2.DE — Risk / Return Rank
ASRF.DE
AYE2.DE
ASRF.DE vs. AYE2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy EUR High Yield SRI Fossil Free UCITS ETF Acc (ASRF.DE) and iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.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.
| ASRF.DE | AYE2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.21 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.21 | -0.13 |
| Martin ratioReturn relative to average drawdown | 4.34 | 5.15 | -0.82 |
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
| ASRF.DE | AYE2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 1.05 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.45 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.45 | 0.00 |
Drawdowns
ASRF.DE vs. AYE2.DE - Drawdown Comparison
The maximum ASRF.DE drawdown since its inception was -16.76%, roughly equal to the maximum AYE2.DE drawdown of -16.48%. Use the drawdown chart below to compare losses from any high point for ASRF.DE and AYE2.DE.
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Drawdown Indicators
| ASRF.DE | AYE2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.76% | -16.48% | -0.28% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -3.10% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -3.86% | -3.69% | -0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -16.76% | -16.48% | -0.28% |
Current DrawdownCurrent decline from peak | -0.34% | -0.33% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -3.96% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.73% | +0.09% |
Volatility
ASRF.DE vs. AYE2.DE - Volatility Comparison
BNP Paribas Easy EUR High Yield SRI Fossil Free UCITS ETF Acc (ASRF.DE) has a higher volatility of 1.05% compared to iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) at 0.98%. This indicates that ASRF.DE's price experiences larger fluctuations and is considered to be riskier than AYE2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ASRF.DE | AYE2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.98% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.20% | 3.09% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 3.58% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.85% | 5.34% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 5.26% | +0.57% |
ASRF.DE vs. AYE2.DE - Expense Ratio Comparison
Both ASRF.DE and AYE2.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ASRF.DE vs. AYE2.DE - Dividend Comparison
Neither ASRF.DE nor AYE2.DE has paid dividends to shareholders.
Frequently Asked Questions
ASRF.DE and AYE2.DE have a correlation of 0.67, 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 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ASRF.DE and AYE2.DE have the same expense ratio: 0.25% per year.
ASRF.DE tracks Bloomberg MSCI Euro High Yield SRI Sustainable Ex Fossil Fuel, while AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond. They also come from different issuers: BNP Paribas and iShares.
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