HY3M.DE vs. ASRD.DE
HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) and ASRD.DE (BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged) are both Emerging Markets Bonds funds - HY3M.DE tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index while ASRD.DE tracks the JP Morgan ESG EMBI Global Diversified (EUR Hedged). Both are passively managed. Over the past 5 years, HY3M.DE returned 3.37%/yr vs -0.63%/yr for ASRD.DE. At a correlation of -0.05, they often move in opposite directions. HY3M.DE charges 0.40%/yr vs 0.25%/yr for ASRD.DE.
Performance
HY3M.DE vs. ASRD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HY3M.DE achieves a 6.33% return, which is significantly higher than ASRD.DE's 0.46% return.
HY3M.DE
- 1D
- -0.75%
- 1M
- 0.99%
- 6M
- 4.72%
- YTD
- 6.33%
- 1Y
- 9.36%
- 3Y*
- 9.22%
- 5Y*
- 3.37%
- 10Y*
- —
ASRD.DE
- 1D
- 0.00%
- 1M
- -0.70%
- 6M
- 0.65%
- YTD
- 0.46%
- 1Y
- 7.39%
- 3Y*
- 6.04%
- 5Y*
- -0.63%
- 10Y*
- —
HY3M.DE vs. ASRD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.33% | -3.30% | 18.25% | 4.13% | -7.66% | 6.03% |
ASRD.DE BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged | 0.46% | 11.16% | 3.52% | 6.69% | -19.97% | -1.25% |
Correlation
The correlation between HY3M.DE and ASRD.DE is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021 | -0.05 |
The correlation between HY3M.DE and ASRD.DE shifts across timeframes, from -0.16 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HY3M.DE vs. ASRD.DE — Risk / Return Rank
HY3M.DE
ASRD.DE
HY3M.DE vs. ASRD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.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.
| HY3M.DE | ASRD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.23 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 1.54 | +1.87 |
| Martin ratioReturn relative to average drawdown | 10.01 | 5.56 | +4.44 |
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Drawdowns
HY3M.DE vs. ASRD.DE - Drawdown Comparison
The maximum HY3M.DE drawdown since its inception was -21.08%, smaller than the maximum ASRD.DE drawdown of -29.54%. Use the drawdown chart below to compare losses from any high point for HY3M.DE and ASRD.DE.
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Drawdown Indicators
| HY3M.DE | ASRD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -29.54% | +8.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -4.77% | +1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -8.03% | -4.06% |
Max Drawdown (5Y)Largest decline over 5 years | -13.58% | -29.54% | +15.96% |
Current DrawdownCurrent decline from peak | -1.17% | -4.29% | +3.12% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -12.79% | +5.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.33% | -0.28% |
Volatility
HY3M.DE vs. ASRD.DE - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a higher volatility of 1.97% compared to BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF EUR Hedged (ASRD.DE) at 0.96%. This indicates that HY3M.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
| HY3M.DE | ASRD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 0.96% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 5.14% | 5.00% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 5.92% | +0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.61% | 9.05% | -0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.20% | 8.83% | +4.37% |
HY3M.DE vs. ASRD.DE - Expense Ratio Comparison
HY3M.DE has a 0.40% expense ratio, which is higher than ASRD.DE's 0.25% expense ratio.
Dividends
HY3M.DE vs. ASRD.DE - Dividend Comparison
Neither HY3M.DE nor ASRD.DE has paid dividends to shareholders.
Frequently Asked Questions
HY3M.DE and ASRD.DE have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ASRD.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ASRD.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for HY3M.DE.
HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while ASRD.DE tracks JP Morgan ESG EMBI Global Diversified (EUR Hedged). They also come from different issuers: VanEck and BNP Paribas. Their fees differ too: 0.40% for HY3M.DE and 0.25% for ASRD.DE.
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