Many grasslands have disappeared over the last century as a result of anthropogenic land use intensification, while new patches are emerging through abandonment of arable fields. Here, we compared species (SD), functional (FD) and phylogenetic (PD) (alpha) diversity among 272 dry grassland patches of two age-classes: old and new, with the new patches being dry grasslands established on previous intensively managed fields during the last 30 years. We first compared SD, FD and PD, between patches of different age. Then, we performed generalized linear models to determine the influence of abiotic, present-day and historical landscape configuration variables on SD, FD and PD. By measuring abiotic variables, we explained the effect of environmental filtering on species diversity, whereas the present-day and historical landscape configuration variables were included to describe how the spatial and temporal configuration of the patches influence patterns of species. Finally, we applied partial regressions to explore the relative importance of abiotic, present-day and historical variables in explaining the diversity metrics and how this varies between patches of different ages. We found higher SD in the old compared to the new patches, but no changes in FD and PD. SD was mostly affected by abiotic and present-day landscape configuration variables in the new and the old patches, respectively. In the new patches, historical variables explained variation in the FD, while present-day variables explained the PD. In the old patches, historical variables accounted for most of the variation in both FD and PD. Our evidence suggests that the relative importance of assembly processes has changed over time, showing that environmental filtering and changes in the landscape configuration prevented the establishment of species in the new patches. However, the loss of species (i.e. SD) is not necessarily linked to a loss of functions and evolutionary potential.