CZX.DE vs. BGX.DE
CZX.DE (Expat Czech PX UCITS ETF) and BGX.DE (Expat Bulgaria SOFIX UCITS ETF) are both Europe Equities funds from Expat - CZX.DE tracks the PX Index while BGX.DE tracks the SOFIX Index. Both are passively managed. Over the past 5 years, CZX.DE returned 17.96%/yr vs 12.68%/yr for BGX.DE. At a 0.10 correlation, their price movements are largely independent.
Performance
CZX.DE vs. BGX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CZX.DE achieves a -0.76% return, which is significantly lower than BGX.DE's 6.93% return.
CZX.DE
- 1D
- 0.09%
- 1M
- 0.94%
- 6M
- -2.81%
- YTD
- -0.76%
- 1Y
- 25.11%
- 3Y*
- 26.57%
- 5Y*
- 17.96%
- 10Y*
- —
BGX.DE
- 1D
- 2.07%
- 1M
- 2.97%
- 6M
- -10.23%
- YTD
- 6.93%
- 1Y
- 18.70%
- 3Y*
- 19.88%
- 5Y*
- 12.68%
- 10Y*
- —
CZX.DE vs. BGX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CZX.DE Expat Czech PX UCITS ETF | -0.76% | 59.06% | 25.21% | 15.53% | -14.17% | 36.32% | -8.82% | 15.70% | -18.19% |
BGX.DE Expat Bulgaria SOFIX UCITS ETF | 6.93% | 28.73% | 14.12% | 19.29% | -10.64% | 32.54% | -18.73% | -9.31% | -15.68% |
Correlation
The correlation between CZX.DE and BGX.DE is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2018 | 0.10 |
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Return for Risk
CZX.DE vs. BGX.DE — Risk / Return Rank
CZX.DE
BGX.DE
CZX.DE vs. BGX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Expat Czech PX UCITS ETF (CZX.DE) and Expat Bulgaria SOFIX UCITS ETF (BGX.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.
| CZX.DE | BGX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.23 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 1.11 | +0.93 |
| Martin ratioReturn relative to average drawdown | 5.25 | 2.08 | +3.17 |
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Drawdowns
CZX.DE vs. BGX.DE - Drawdown Comparison
The maximum CZX.DE drawdown since its inception was -41.92%, smaller than the maximum BGX.DE drawdown of -46.59%. Use the drawdown chart below to compare losses from any high point for CZX.DE and BGX.DE.
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Drawdown Indicators
| CZX.DE | BGX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.92% | -46.59% | +4.67% |
Max Drawdown (1Y)Largest decline over 1 year | -12.60% | -17.99% | +5.39% |
Max Drawdown (3Y)Largest decline over 3 years | -12.60% | -17.99% | +5.39% |
Max Drawdown (5Y)Largest decline over 5 years | -25.87% | -17.99% | -7.88% |
Current DrawdownCurrent decline from peak | -4.39% | -12.90% | +8.51% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -20.20% | +11.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.90% | 9.60% | -4.70% |
Volatility
CZX.DE vs. BGX.DE - Volatility Comparison
Expat Czech PX UCITS ETF (CZX.DE) has a higher volatility of 4.33% compared to Expat Bulgaria SOFIX UCITS ETF (BGX.DE) at 3.60%. This indicates that CZX.DE's price experiences larger fluctuations and is considered to be riskier than BGX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CZX.DE | BGX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 3.60% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 11.33% | +2.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.56% | 16.24% | +1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.14% | 15.22% | +1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.39% | 15.75% | +2.64% |
Dividends
CZX.DE vs. BGX.DE - Dividend Comparison
Neither CZX.DE nor BGX.DE has paid dividends to shareholders.
Frequently Asked Questions
CZX.DE and BGX.DE have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CZX.DE tracks PX Index, while BGX.DE tracks SOFIX Index.
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