ESNB.DE vs. CZX.DE
ESNB.DE (Expat Serbia BELEX15 UCITS ETF) and CZX.DE (Expat Czech PX UCITS ETF) are both Europe Equities funds from Expat - ESNB.DE tracks the BELEX15 Index while CZX.DE tracks the PX Index. Both are passively managed. Over the past 5 years, ESNB.DE returned -1.86%/yr vs 17.96%/yr for CZX.DE. At a 0.04 correlation, their price movements are largely independent. Both charge a 1.38% expense ratio.
Performance
ESNB.DE vs. CZX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ESNB.DE achieves a -7.20% return, which is significantly lower than CZX.DE's -0.76% return.
ESNB.DE
- 1D
- -0.13%
- 1M
- -0.70%
- 6M
- -5.93%
- YTD
- -7.20%
- 1Y
- -5.98%
- 3Y*
- -1.71%
- 5Y*
- -1.86%
- 10Y*
- —
CZX.DE
- 1D
- 0.09%
- 1M
- 0.94%
- 6M
- -2.81%
- YTD
- -0.76%
- 1Y
- 25.11%
- 3Y*
- 26.57%
- 5Y*
- 17.96%
- 10Y*
- —
ESNB.DE vs. CZX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ESNB.DE Expat Serbia BELEX15 UCITS ETF | -7.20% | 0.82% | 0.78% | 2.90% | -8.70% | 5.74% | -3.42% | 5.43% | -7.45% |
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% |
Correlation
The correlation between ESNB.DE and CZX.DE is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2018 | 0.04 |
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Return for Risk
ESNB.DE vs. CZX.DE — Risk / Return Rank
ESNB.DE
CZX.DE
ESNB.DE vs. CZX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Expat Serbia BELEX15 UCITS ETF (ESNB.DE) and Expat Czech PX UCITS ETF (CZX.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.
| ESNB.DE | CZX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.27 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 2.04 | -2.53 |
| Martin ratioReturn relative to average drawdown | -1.05 | 5.25 | -6.30 |
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Drawdowns
ESNB.DE vs. CZX.DE - Drawdown Comparison
The maximum ESNB.DE drawdown since its inception was -22.77%, smaller than the maximum CZX.DE drawdown of -41.92%. Use the drawdown chart below to compare losses from any high point for ESNB.DE and CZX.DE.
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Drawdown Indicators
| ESNB.DE | CZX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.77% | -41.92% | +19.15% |
Max Drawdown (1Y)Largest decline over 1 year | -10.40% | -12.60% | +2.20% |
Max Drawdown (3Y)Largest decline over 3 years | -12.60% | -12.60% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -15.85% | -25.87% | +10.02% |
Current DrawdownCurrent decline from peak | -13.87% | -4.39% | -9.48% |
Average DrawdownAverage peak-to-trough decline | -8.44% | -8.94% | +0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.88% | 4.90% | -0.02% |
Volatility
ESNB.DE vs. CZX.DE - Volatility Comparison
The current volatility for Expat Serbia BELEX15 UCITS ETF (ESNB.DE) is 3.07%, while Expat Czech PX UCITS ETF (CZX.DE) has a volatility of 4.33%. This indicates that ESNB.DE experiences smaller price fluctuations and is considered to be less risky than CZX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESNB.DE | CZX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 4.33% | -1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 6.22% | 14.19% | -7.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.76% | 17.56% | -7.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.53% | 17.14% | -6.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.11% | 18.39% | -6.28% |
ESNB.DE vs. CZX.DE - Expense Ratio Comparison
Both ESNB.DE and CZX.DE have an expense ratio of 1.38%.
Dividends
ESNB.DE vs. CZX.DE - Dividend Comparison
Neither ESNB.DE nor CZX.DE has paid dividends to shareholders.
Frequently Asked Questions
ESNB.DE and CZX.DE have a correlation of 0.04, 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.
ESNB.DE and CZX.DE have the same expense ratio: 1.38% per year.
ESNB.DE tracks BELEX15 Index, while CZX.DE tracks PX Index.
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