CGB.DE vs. ASRD.DE
CGB.DE (Xtrackers II Harvest China Government Bond UCITS ETF (Dist)) and ASRD.DE (BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged) are both Emerging Markets Bonds funds - CGB.DE tracks the FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index while ASRD.DE tracks the JP Morgan ESG EMBI Global Diversified (EUR Hedged). Both are passively managed. Over the past 5 years, CGB.DE returned 3.23%/yr vs -0.46%/yr for ASRD.DE. At a correlation of -0.17, they often move in opposite directions. CGB.DE charges 0.20%/yr vs 0.25%/yr for ASRD.DE.
Performance
CGB.DE vs. ASRD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CGB.DE achieves a 8.00% return, which is significantly higher than ASRD.DE's 0.96% return.
CGB.DE
- 1D
- 0.40%
- 1M
- 1.32%
- 6M
- 7.77%
- YTD
- 8.00%
- 1Y
- 11.41%
- 3Y*
- 3.87%
- 5Y*
- 3.23%
- 10Y*
- 2.48%
ASRD.DE
- 1D
- 0.00%
- 1M
- 0.74%
- 6M
- 1.40%
- YTD
- 0.96%
- 1Y
- 6.57%
- 3Y*
- 6.50%
- 5Y*
- -0.46%
- 10Y*
- —
CGB.DE vs. ASRD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 8.00% | -6.58% | 9.93% | -2.82% | -0.10% | 12.48% |
ASRD.DE BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged | 0.96% | 11.16% | 3.52% | 6.69% | -19.97% | -1.25% |
Correlation
The correlation between CGB.DE and ASRD.DE is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021 | -0.17 |
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Return for Risk
CGB.DE vs. ASRD.DE — Risk / Return Rank
CGB.DE
ASRD.DE
CGB.DE vs. ASRD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.DE) and BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged (ASRD.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.
| CGB.DE | ASRD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.21 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.02 | 1.37 | +2.65 |
| Martin ratioReturn relative to average drawdown | 11.91 | 4.97 | +6.94 |
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Drawdowns
CGB.DE vs. ASRD.DE - Drawdown Comparison
The maximum CGB.DE drawdown since its inception was -20.06%, smaller than the maximum ASRD.DE drawdown of -29.54%. Use the drawdown chart below to compare losses from any high point for CGB.DE and ASRD.DE.
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Drawdown Indicators
| CGB.DE | ASRD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.06% | -29.54% | +9.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -4.77% | +1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -11.08% | -8.03% | -3.05% |
Max Drawdown (5Y)Largest decline over 5 years | -13.94% | -29.54% | +15.60% |
Max Drawdown (10Y)Largest decline over 10 years | -14.64% | — | — |
Current DrawdownCurrent decline from peak | -0.94% | -3.81% | +2.87% |
Average DrawdownAverage peak-to-trough decline | -9.28% | -12.84% | +3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 1.31% | -0.35% |
Volatility
CGB.DE vs. ASRD.DE - Volatility Comparison
Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.DE) has a higher volatility of 1.70% compared to BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged (ASRD.DE) at 1.20%. This indicates that CGB.DE's price experiences larger fluctuations and is considered to be riskier than ASRD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGB.DE | ASRD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 1.20% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 4.01% | 4.97% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 5.95% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.74% | 9.04% | -2.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.06% | 8.85% | +2.21% |
CGB.DE vs. ASRD.DE - Expense Ratio Comparison
CGB.DE has a 0.20% expense ratio, which is lower than ASRD.DE's 0.25% 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
CGB.DE vs. ASRD.DE - Dividend Comparison
CGB.DE's dividend yield for the trailing twelve months is around 2.00%, while ASRD.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ASRD.DE BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 2.00% | 2.40% | 2.37% | 2.97% | 4.40% | 2.17% | 2.15% | 2.56% | 0.72% | 2.64% | 0.38% |
Frequently Asked Questions
CGB.DE and ASRD.DE have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CGB.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CGB.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for ASRD.DE.
CGB.DE tracks FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index, while ASRD.DE tracks JP Morgan ESG EMBI Global Diversified (EUR Hedged). They also come from different issuers: Xtrackers and BNP Paribas. Their fees differ too: 0.20% for CGB.DE and 0.25% for ASRD.DE.
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