VGEM.DE vs. ASRC.DE
VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and ASRC.DE (BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF) are both Emerging Markets Bonds funds - VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov while ASRC.DE tracks the JP Morgan ESG EMBI Global Diversified. Both are passively managed. Over the past 5 years, VGEM.DE returned 2.73%/yr vs 2.65%/yr for ASRC.DE. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
VGEM.DE vs. ASRC.DE - Performance Comparison
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Different Trading Currencies
VGEM.DE is traded in EUR, while ASRC.DE is traded in USD. To make them comparable, the ASRC.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, VGEM.DE achieves a 2.34% return, which is significantly lower than ASRC.DE's 2.84% return.
VGEM.DE
- 1D
- 0.20%
- 1M
- 1.24%
- YTD
- 2.34%
- 6M
- 1.63%
- 1Y
- 6.72%
- 3Y*
- 5.24%
- 5Y*
- 2.73%
- 10Y*
- —
ASRC.DE
- 1D
- 0.23%
- 1M
- 1.68%
- YTD
- 2.84%
- 6M
- 2.72%
- 1Y
- 8.98%
- 3Y*
- 6.23%
- 5Y*
- 2.65%
- 10Y*
- —
VGEM.DE vs. ASRC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | -10.22% | 8.00% |
ASRC.DE BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF | 2.84% | 0.49% | 11.52% | 6.43% | -12.67% | 8.65% |
Correlation
The correlation between VGEM.DE and ASRC.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | 0.74 |
The correlation between VGEM.DE and ASRC.DE has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.
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Return for Risk
VGEM.DE vs. ASRC.DE — Risk / Return Rank
VGEM.DE
ASRC.DE
VGEM.DE vs. ASRC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) and BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF (ASRC.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.
| VGEM.DE | ASRC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 3.01 | -0.85 |
| Martin ratioReturn relative to average drawdown | 5.71 | 8.61 | -2.90 |
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
| VGEM.DE | ASRC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 1.32 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.28 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.32 | -0.03 |
Drawdowns
VGEM.DE vs. ASRC.DE - Drawdown Comparison
The maximum VGEM.DE drawdown since its inception was -19.64%, which is greater than ASRC.DE's maximum drawdown of -15.59%. Use the drawdown chart below to compare losses from any high point for VGEM.DE and ASRC.DE.
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Drawdown Indicators
| VGEM.DE | ASRC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -15.59% | -4.05% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -2.97% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -11.98% | -12.90% | +0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -15.59% | +3.13% |
Current DrawdownCurrent decline from peak | -2.18% | -0.23% | -1.95% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -6.23% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.04% | +0.13% |
Volatility
VGEM.DE vs. ASRC.DE - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) is 1.18%, while BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF (ASRC.DE) has a volatility of 1.62%. This indicates that VGEM.DE experiences smaller price fluctuations and is considered to be less risky than ASRC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGEM.DE | ASRC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.62% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 3.96% | 5.09% | -1.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 6.79% | -0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.89% | 9.24% | -1.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 9.15% | -0.38% |
VGEM.DE vs. ASRC.DE - Expense Ratio Comparison
Both VGEM.DE and ASRC.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
VGEM.DE vs. ASRC.DE - Dividend Comparison
VGEM.DE's dividend yield for the trailing twelve months is around 5.06%, while ASRC.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ASRC.DE BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.06% | 5.60% | 5.23% | 5.14% | 4.84% | 3.16% | 3.99% | 3.87% | 3.84% | 0.68% |
Frequently Asked Questions
VGEM.DE and ASRC.DE have a correlation of 0.73, 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.
VGEM.DE and ASRC.DE have the same expense ratio: 0.25% per year.
VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov, while ASRC.DE tracks JP Morgan ESG EMBI Global Diversified. They also come from different issuers: Vanguard and BNP Paribas.
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