GREK vs. SBS

Last updated Jun 13, 2026

GREK (Global X MSCI Greece ETF) is Emerging Markets Equities fund tracking the MSCI All Greece Select 25-50, while SBS (Companhia de Saneamento Básico do Estado de São Paulo - SABESP) is a stock. Over the past 10 years, GREK returned 16.01%/yr vs 16.43%/yr for SBS. At a 0.26 correlation, their price movements are largely independent.

Performance

GREK vs. SBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI Greece ETF (GREK) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GREK having a 15.45% return and SBS slightly lower at 15.28%. Both investments have delivered pretty close results over the past 10 years, with GREK having a 16.01% annualized return and SBS not far ahead at 16.43%.

GREK

• 1D: 0.87%
• 1M: 5.63%
• YTD: 15.45%
• 6M: 15.54%
• 1Y: 38.63%
• 3Y*: 32.67%
• 5Y*: 24.30%
• 10Y*: 16.01%

SBS

• 1D: -0.18%
• 1M: -6.98%
• YTD: 15.28%
• 6M: 14.60%
• 1Y: 38.40%
• 3Y*: 40.12%
• 5Y*: 32.68%
• 10Y*: 16.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GREK vs. SBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GREK Global X MSCI Greece ETF	15.45%	76.11%	9.53%	42.72%	3.64%	6.14%	-13.89%	50.20%	-31.25%	34.80%
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	15.28%	80.60%	-4.21%	46.89%	48.42%	-13.79%	-40.98%	91.22%	-20.37%	23.83%

Correlation

The correlation between GREK and SBS is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Dec 8, 2011	0.26

Return for Risk

GREK vs. SBS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GREK

GREK Risk / Return Rank: 49
GREK Sharpe Ratio Rank: 54
GREK Sortino Ratio Rank: 57
GREK Omega Ratio Rank: 51
GREK Calmar Ratio Rank: 41
GREK Martin Ratio Rank: 40

SBS

SBS Risk / Return Rank: 73
SBS Sharpe Ratio Rank: 77
SBS Sortino Ratio Rank: 73
SBS Omega Ratio Rank: 69
SBS Calmar Ratio Rank: 71
SBS Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GREK vs. SBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Greece ETF (GREK) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). 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.

	GREK	SBS	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.14	+0.46
Sortino ratio: Return per unit of downside risk	2.38	1.76	+0.62
Omega ratio: Gain probability vs. loss probability	1.28	1.21	+0.08
Calmar ratio: Return relative to maximum drawdown	1.82	1.55	+0.27
Martin ratio: Return relative to average drawdown	5.62	4.65	+0.97

GREK vs. SBS - Sharpe Ratio Comparison

The current GREK Sharpe Ratio is 1.59, which is higher than the SBS Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of GREK and SBS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GREK vs. SBS - Drawdown Comparison

The maximum GREK drawdown since its inception was -79.50%, roughly equal to the maximum SBS drawdown of -76.49%. Use the drawdown chart below to compare losses from any high point for GREK and SBS.

Drawdown Indicators

	GREK	SBS	Difference
Max Drawdown Largest peak-to-trough decline	-79.50%	-76.49%	-3.01%
Max Drawdown (1Y) Largest decline over 1 year	-21.32%	-24.88%	+3.56%
Max Drawdown (3Y) Largest decline over 3 years	-22.63%	-24.88%	+2.25%
Max Drawdown (5Y) Largest decline over 5 years	-30.46%	-30.35%	-0.11%
Max Drawdown (10Y) Largest decline over 10 years	-57.04%	-61.91%	+4.87%
Current Drawdown Current decline from peak	-1.44%	-22.90%	+21.46%
Average Drawdown Average peak-to-trough decline	-45.25%	-25.70%	-19.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.90%	8.28%	-1.38%

Volatility

GREK vs. SBS - Volatility Comparison

Global X MSCI Greece ETF (GREK) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) have volatilities of 8.69% and 8.92%, 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.

Volatility by Period

	GREK	SBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.69%	8.92%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	20.65%	24.61%	-3.96%
Volatility (1Y) Calculated over the trailing 1-year period	24.35%	33.86%	-9.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.44%	36.90%	-12.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.71%	43.51%	-13.80%

Dividends

GREK vs. SBS - Dividend Comparison

GREK's dividend yield for the trailing twelve months is around 3.00%, more than SBS's 2.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GREK Global X MSCI Greece ETF	3.00%	3.46%	4.63%	2.61%	2.82%	2.16%	2.62%	2.25%	2.41%	2.13%	1.95%	1.52%
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	2.33%	4.68%	1.96%	1.66%	1.88%	0.97%	2.93%	1.99%	3.86%	2.76%	0.65%	1.91%

Frequently Asked Questions

Can I hold both GREK and SBS in my portfolio?

GREK and SBS have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GREK or SBS?

SBS has higher volatility (8.92%) compared to GREK (8.69%). In terms of maximum drawdown, GREK dropped -79.50% vs SBS's -76.49%.

Which has better risk-adjusted returns?

GREK currently has the higher Sharpe Ratio (1.59 vs 1.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.