TCBT.DE vs. ASR3.DE
TCBT.DE (VanEck iBoxx EUR Corporates UCITS ETF) and ASR3.DE (BNP Paribas Easy EUR Corporate Bond SRI PAB 1-3Y UCITS ETF) are both European Corporate Bonds funds - TCBT.DE tracks the iBoxx® SD-KPI EUR Liquid Corporates while ASR3.DE tracks the Bloomberg MSCI 1-3Y Euro Corporate SRI Sustainable Select Ex Fossil Fuel PAB. Both are passively managed. Over the past 5 years, TCBT.DE returned -0.18%/yr vs 1.32%/yr for ASR3.DE. A 0.67 correlation means they provide meaningful diversification when combined. TCBT.DE charges 0.15%/yr vs 0.20%/yr for ASR3.DE.
Performance
TCBT.DE vs. ASR3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TCBT.DE achieves a 0.36% return, which is significantly lower than ASR3.DE's 0.52% return.
TCBT.DE
- 1D
- -0.09%
- 1M
- -0.28%
- YTD
- 0.36%
- 6M
- 0.13%
- 1Y
- 1.72%
- 3Y*
- 3.98%
- 5Y*
- -0.18%
- 10Y*
- —
ASR3.DE
- 1D
- 0.21%
- 1M
- 0.26%
- YTD
- 0.52%
- 6M
- 0.64%
- 1Y
- 1.93%
- 3Y*
- 3.90%
- 5Y*
- 1.32%
- 10Y*
- —
TCBT.DE vs. ASR3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TCBT.DE VanEck iBoxx EUR Corporates UCITS ETF | 0.36% | 2.42% | 3.35% | 8.23% | -13.49% | -1.27% | 2.29% | -0.01% |
ASR3.DE BNP Paribas Easy EUR Corporate Bond SRI PAB 1-3Y UCITS ETF | 0.52% | 2.90% | 4.41% | 4.76% | -5.36% | -0.22% | 0.46% | 0.11% |
Correlation
The correlation between TCBT.DE and ASR3.DE is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2019 | 0.67 |
The correlation between TCBT.DE and ASR3.DE shifts across timeframes, from 0.53 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TCBT.DE vs. ASR3.DE — Risk / Return Rank
TCBT.DE
ASR3.DE
TCBT.DE vs. ASR3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) and BNP Paribas Easy EUR Corporate Bond SRI PAB 1-3Y UCITS ETF (ASR3.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.
| TCBT.DE | ASR3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.21 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 1.29 | -0.90 |
| Martin ratioReturn relative to average drawdown | 1.19 | 4.87 | -3.68 |
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
| TCBT.DE | ASR3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 1.00 | -0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.62 | -0.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.48 | -0.30 |
Drawdowns
TCBT.DE vs. ASR3.DE - Drawdown Comparison
The maximum TCBT.DE drawdown since its inception was -16.90%, which is greater than ASR3.DE's maximum drawdown of -6.86%. Use the drawdown chart below to compare losses from any high point for TCBT.DE and ASR3.DE.
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Drawdown Indicators
| TCBT.DE | ASR3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.90% | -6.86% | -10.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | -1.38% | -2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -3.39% | -1.38% | -2.01% |
Max Drawdown (5Y)Largest decline over 5 years | -16.88% | -6.86% | -10.02% |
Current DrawdownCurrent decline from peak | -2.09% | -0.08% | -2.01% |
Average DrawdownAverage peak-to-trough decline | -5.10% | -1.54% | -3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 0.37% | +0.76% |
Volatility
TCBT.DE vs. ASR3.DE - Volatility Comparison
VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) has a higher volatility of 1.20% compared to BNP Paribas Easy EUR Corporate Bond SRI PAB 1-3Y UCITS ETF (ASR3.DE) at 0.56%. This indicates that TCBT.DE's price experiences larger fluctuations and is considered to be riskier than ASR3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCBT.DE | ASR3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.56% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 4.05% | 1.55% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.46% | 1.78% | +2.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.18% | 2.09% | +3.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 2.26% | +3.10% |
TCBT.DE vs. ASR3.DE - Expense Ratio Comparison
TCBT.DE has a 0.15% expense ratio, which is lower than ASR3.DE's 0.20% 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
TCBT.DE vs. ASR3.DE - Dividend Comparison
TCBT.DE's dividend yield for the trailing twelve months is around 2.67%, more than ASR3.DE's 1.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ASR3.DE BNP Paribas Easy EUR Corporate Bond SRI PAB 1-3Y UCITS ETF | 1.98% | 2.97% | 3.58% | 0.93% | 1.02% | 0.50% | 0.00% | 0.00% |
TCBT.DE VanEck iBoxx EUR Corporates UCITS ETF | 2.67% | 2.45% | 2.39% | 1.12% | 1.39% | 0.75% | 1.00% | 1.07% |
Frequently Asked Questions
TCBT.DE and ASR3.DE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TCBT.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TCBT.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for ASR3.DE.
TCBT.DE tracks iBoxx® SD-KPI EUR Liquid Corporates, while ASR3.DE tracks Bloomberg MSCI 1-3Y Euro Corporate SRI Sustainable Select Ex Fossil Fuel PAB. They also come from different issuers: VanEck and BNP Paribas. Their fees differ too: 0.15% for TCBT.DE and 0.20% for ASR3.DE.
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