ASRG.DE vs. XZHE.DE

Last updated Jun 5, 2026

ASRG.DE (BNP Paribas Easy EUR High Yield SRI Fossil Free UCITS ETF Dis) and XZHE.DE (Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C) are both European High Yield Bonds funds - ASRG.DE tracks the Bloomberg MSCI Euro High Yield SRI Sustainable Ex Fossil Fuel while XZHE.DE tracks the Bloomberg Pan Euro HY Euro TR EUR. Both are passively managed. Over the past 3 years, ASRG.DE returned 6.79%/yr vs 6.40%/yr for XZHE.DE. A 0.80 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.

Performance

ASRG.DE vs. XZHE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNP Paribas Easy EUR High Yield SRI Fossil Free UCITS ETF Dis (ASRG.DE) and Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C (XZHE.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASRG.DE achieves a 0.92% return, which is significantly higher than XZHE.DE's 0.54% return.

ASRG.DE

• 1D: 0.16%
• 1M: 0.58%
• YTD: 0.92%
• 6M: 1.45%
• 1Y: 3.89%
• 3Y*: 6.79%
• 5Y*: 2.27%
• 10Y*: —

XZHE.DE

• 1D: 0.00%
• 1M: 0.84%
• YTD: 0.54%
• 6M: 0.98%
• 1Y: 3.81%
• 3Y*: 6.40%
• 5Y*: —
• 10Y*: —

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

ASRG.DE vs. XZHE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ASRG.DE BNP Paribas Easy EUR High Yield SRI Fossil Free UCITS ETF Dis	0.92%	5.01%	6.41%	11.23%	2.76%
XZHE.DE Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C	0.54%	5.48%	5.98%	9.94%	2.99%

Correlation

The correlation between ASRG.DE and XZHE.DE is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jul 12, 2022	0.80

Over the past year, the correlation between ASRG.DE and XZHE.DE has dropped to 0.57 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

Return for Risk

ASRG.DE vs. XZHE.DE — Risk / Return Rank

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

ASRG.DE

ASRG.DE Risk / Return Rank: 26
ASRG.DE Sharpe Ratio Rank: 25
ASRG.DE Sortino Ratio Rank: 25
ASRG.DE Omega Ratio Rank: 23
ASRG.DE Calmar Ratio Rank: 24
ASRG.DE Martin Ratio Rank: 30

XZHE.DE

XZHE.DE Risk / Return Rank: 24
XZHE.DE Sharpe Ratio Rank: 24
XZHE.DE Sortino Ratio Rank: 24
XZHE.DE Omega Ratio Rank: 25
XZHE.DE Calmar Ratio Rank: 21
XZHE.DE Martin Ratio Rank: 26

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.

ASRG.DE vs. XZHE.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 Dis (ASRG.DE) and Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C (XZHE.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.

	ASRG.DE	XZHE.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.86	0.81	+0.05
Sortino ratio: Return per unit of downside risk	1.34	1.29	+0.05
Omega ratio: Gain probability vs. loss probability	1.15	1.17	-0.02
Calmar ratio: Return relative to maximum drawdown	1.08	0.92	+0.16
Martin ratio: Return relative to average drawdown	4.36	3.44	+0.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASRG.DE vs. XZHE.DE - Sharpe Ratio Comparison

The current ASRG.DE Sharpe Ratio is 0.86, which is comparable to the XZHE.DE Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of ASRG.DE and XZHE.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

	ASRG.DE	XZHE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.81	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	1.12	-0.67

Drawdowns

ASRG.DE vs. XZHE.DE - Drawdown Comparison

The maximum ASRG.DE drawdown since its inception was -16.66%, which is greater than XZHE.DE's maximum drawdown of -7.83%. Use the drawdown chart below to compare losses from any high point for ASRG.DE and XZHE.DE.

Drawdown Indicators

	ASRG.DE	XZHE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-16.66%	-7.83%	-8.83%
Max Drawdown (1Y) Largest decline over 1 year	-3.30%	-3.94%	+0.64%
Max Drawdown (3Y) Largest decline over 3 years	-3.91%	-3.99%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-16.66%	—	—
Current Drawdown Current decline from peak	-0.05%	-0.55%	+0.50%
Average Drawdown Average peak-to-trough decline	-3.97%	-0.99%	-2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	1.05%	-0.23%

Volatility

ASRG.DE vs. XZHE.DE - Volatility Comparison

BNP Paribas Easy EUR High Yield SRI Fossil Free UCITS ETF Dis (ASRG.DE) and Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C (XZHE.DE) have volatilities of 1.02% and 1.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASRG.DE	XZHE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	1.07%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	3.35%	4.04%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	4.48%	-0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.52%	5.65%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.44%	5.65%	-0.21%

ASRG.DE vs. XZHE.DE - Expense Ratio Comparison

Both ASRG.DE and XZHE.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

ASRG.DE vs. XZHE.DE - Dividend Comparison

ASRG.DE's dividend yield for the trailing twelve months is around 3.95%, while XZHE.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
ASRG.DE BNP Paribas Easy EUR High Yield SRI Fossil Free UCITS ETF Dis	3.95%	4.69%	5.97%	2.99%	3.91%
XZHE.DE Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASRG.DE and XZHE.DE in my portfolio?

ASRG.DE and XZHE.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ASRG.DE or XZHE.DE?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASRG.DE or XZHE.DE?

ASRG.DE and XZHE.DE have the same expense ratio: 0.25% per year.

What is the main difference between ASRG.DE and XZHE.DE?

ASRG.DE tracks Bloomberg MSCI Euro High Yield SRI Sustainable Ex Fossil Fuel, while XZHE.DE tracks Bloomberg Pan Euro HY Euro TR EUR. They also come from different issuers: BNP Paribas and DWS.