CZX.DE vs. MKK1.DE
CZX.DE (Expat Czech PX UCITS ETF) and MKK1.DE (Expat Macedonia MBI10 UCITS ETF) are both Europe Equities funds from Expat - CZX.DE tracks the PX Index while MKK1.DE tracks the MBI10 Index. Both are passively managed. Over the past 5 years, CZX.DE returned 17.96%/yr vs 6.28%/yr for MKK1.DE. At a 0.10 correlation, their price movements are largely independent. Both charge a 1.38% expense ratio.
Performance
CZX.DE vs. MKK1.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 higher than MKK1.DE's -6.62% 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*
- —
MKK1.DE
- 1D
- -0.50%
- 1M
- -5.06%
- 6M
- -8.12%
- YTD
- -6.62%
- 1Y
- -10.30%
- 3Y*
- 12.27%
- 5Y*
- 6.28%
- 10Y*
- —
CZX.DE vs. MKK1.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% | -17.38% |
MKK1.DE Expat Macedonia MBI10 UCITS ETF | -6.62% | -4.69% | 56.10% | 5.81% | -18.85% | 28.19% | 6.43% | 28.44% | 13.78% |
Correlation
The correlation between CZX.DE and MKK1.DE is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2018 | 0.10 |
The correlation between CZX.DE and MKK1.DE shifts across timeframes, from -0.06 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CZX.DE vs. MKK1.DE — Risk / Return Rank
CZX.DE
MKK1.DE
CZX.DE vs. MKK1.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 Macedonia MBI10 UCITS ETF (MKK1.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 | MKK1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.46 | ||
| Sortino ratioReturn per unit of downside risk | +3.44 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.83 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | -0.77 | +2.81 |
| Martin ratioReturn relative to average drawdown | 5.25 | -1.83 | +7.08 |
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Drawdowns
CZX.DE vs. MKK1.DE - Drawdown Comparison
The maximum CZX.DE drawdown since its inception was -41.92%, which is greater than MKK1.DE's maximum drawdown of -33.12%. Use the drawdown chart below to compare losses from any high point for CZX.DE and MKK1.DE.
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Drawdown Indicators
| CZX.DE | MKK1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.92% | -33.12% | -8.80% |
Max Drawdown (1Y)Largest decline over 1 year | -12.60% | -12.79% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -12.60% | -16.67% | +4.07% |
Max Drawdown (5Y)Largest decline over 5 years | -25.87% | -25.62% | -0.25% |
Current DrawdownCurrent decline from peak | -4.39% | -15.61% | +11.22% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -8.13% | -0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.90% | 5.44% | -0.54% |
Volatility
CZX.DE vs. MKK1.DE - Volatility Comparison
Expat Czech PX UCITS ETF (CZX.DE) has a higher volatility of 4.33% compared to Expat Macedonia MBI10 UCITS ETF (MKK1.DE) at 2.86%. This indicates that CZX.DE's price experiences larger fluctuations and is considered to be riskier than MKK1.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 | MKK1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 2.86% | +1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 6.87% | +7.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.56% | 9.97% | +7.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.14% | 13.50% | +3.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.39% | 16.06% | +2.33% |
CZX.DE vs. MKK1.DE - Expense Ratio Comparison
Both CZX.DE and MKK1.DE have an expense ratio of 1.38%.
Dividends
CZX.DE vs. MKK1.DE - Dividend Comparison
Neither CZX.DE nor MKK1.DE has paid dividends to shareholders.
Frequently Asked Questions
CZX.DE and MKK1.DE have a correlation of -0.06, 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 MKK1.DE have the same expense ratio: 1.38% per year.
CZX.DE tracks PX Index, while MKK1.DE tracks MBI10 Index.
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