CZX.DE vs. GRX.DE
CZX.DE (Expat Czech PX UCITS ETF) and GRX.DE (Expat Greece ASE UCITS ETF) are both Europe Equities funds from Expat - CZX.DE tracks the PX Index while GRX.DE tracks the FTSE ATHEX Composite Index. Both are passively managed. Over the past 5 years, CZX.DE returned 17.96%/yr vs 19.18%/yr for GRX.DE. At a 0.34 correlation, their price movements are largely independent. Both charge a 1.38% expense ratio.
Performance
CZX.DE vs. GRX.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 GRX.DE's 17.31% 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*
- —
GRX.DE
- 1D
- -0.34%
- 1M
- 1.13%
- 6M
- 10.97%
- YTD
- 17.31%
- 1Y
- 26.73%
- 3Y*
- 22.75%
- 5Y*
- 19.18%
- 10Y*
- —
CZX.DE vs. GRX.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% |
GRX.DE Expat Greece ASE UCITS ETF | 17.31% | 44.63% | 13.08% | 38.74% | -12.12% | 9.54% | -18.16% | 38.85% | -28.42% |
Correlation
The correlation between CZX.DE and GRX.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2018 | 0.34 |
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Return for Risk
CZX.DE vs. GRX.DE — Risk / Return Rank
CZX.DE
GRX.DE
CZX.DE vs. GRX.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 Greece ASE UCITS ETF (GRX.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 | GRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 1.56 | +0.48 |
| Martin ratioReturn relative to average drawdown | 5.25 | 4.59 | +0.66 |
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Drawdowns
CZX.DE vs. GRX.DE - Drawdown Comparison
The maximum CZX.DE drawdown since its inception was -41.92%, smaller than the maximum GRX.DE drawdown of -44.54%. Use the drawdown chart below to compare losses from any high point for CZX.DE and GRX.DE.
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Drawdown Indicators
| CZX.DE | GRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.92% | -44.54% | +2.62% |
Max Drawdown (1Y)Largest decline over 1 year | -12.60% | -17.09% | +4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -12.60% | -18.19% | +5.59% |
Max Drawdown (5Y)Largest decline over 5 years | -25.87% | -27.66% | +1.79% |
Current DrawdownCurrent decline from peak | -4.39% | -2.70% | -1.69% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -12.60% | +3.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.90% | 5.80% | -0.90% |
Volatility
CZX.DE vs. GRX.DE - Volatility Comparison
Expat Czech PX UCITS ETF (CZX.DE) and Expat Greece ASE UCITS ETF (GRX.DE) have volatilities of 4.33% and 4.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CZX.DE | GRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 4.20% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 17.17% | -2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.56% | 20.40% | -2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.14% | 20.26% | -3.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.39% | 21.53% | -3.14% |
CZX.DE vs. GRX.DE - Expense Ratio Comparison
Both CZX.DE and GRX.DE have an expense ratio of 1.38%.
Dividends
CZX.DE vs. GRX.DE - Dividend Comparison
Neither CZX.DE nor GRX.DE has paid dividends to shareholders.
Frequently Asked Questions
CZX.DE and GRX.DE have a correlation of 0.32, 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 1.38% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CZX.DE and GRX.DE have the same expense ratio: 1.38% per year.
CZX.DE tracks PX Index, while GRX.DE tracks FTSE ATHEX Composite Index.
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