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GREK vs. TUR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GREK vs. TUR

Last updated Aug 2, 2026
Documentation

GREK (Global X MSCI Greece ETF) and TUR (iShares MSCI Turkey ETF) are both Emerging Markets Equities funds - GREK tracks the MSCI All Greece Select 25/50 Index while TUR tracks the MSCI Turkey Investable Market Index. Both are passively managed. Over the past 10 years, GREK returned 17.36%/yr vs 2.90%/yr for TUR. Their 0.30 correlation means their historical movements had little consistent relationship. GREK charges 0.56%/yr vs 0.59%/yr for TUR.

Performance

GREK vs. TUR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI Greece ETF (GREK) and iShares MSCI Turkey ETF (TUR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GREK achieves a 22.60% return, which is significantly higher than TUR's 11.93% return. Over the past 10 years, GREK has outperformed TUR with an annualized return of 17.36%, while TUR has yielded a comparatively lower 2.90% annualized return.

GREK

1D
-0.62%
1M
5.48%
6M
9.57%
YTD
22.60%
1Y
36.74%
3Y*
32.40%
5Y*
27.82%
10Y*
17.36%
ALL TIME*
6.26%

TUR

1D
0.90%
1M
-3.25%
6M
-6.60%
YTD
11.93%
1Y
14.75%
3Y*
6.78%
5Y*
14.48%
10Y*
2.90%
ALL TIME*
1.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

GREK

Global X MSCI Greece ETF
$9.46M$9.35M$7.83M

TUR

iShares MSCI Turkey ETF
$3.86M$3.70M$9.25M

GREK vs. TUR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GREK
Global X MSCI Greece ETF		22.60%76.11%9.53%42.72%3.64%6.14%-13.89%50.20%-31.25%34.80%
TUR
iShares MSCI Turkey ETF		11.93%-1.54%12.91%-8.83%105.75%-27.41%-1.19%14.49%-41.46%37.58%

Correlation

The correlation between GREK and TUR is 0.31, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.31

Correlation (3Y)
Balances recent behavior with more history.

0.26

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.27

Correlation (10Y)
Provides a long-term view across more market conditions.

0.29

Correlation (All Time)
Calculated using the full available price history since Dec 8, 2011

0.30

GREK vs. TUR - Sectors Allocation Comparison

Sectors
GREK
TUR

Financial Services

48.8%
14.7%

Utilities

14.3%
1.9%

Industrials

12.5%
24.2%

Consumer Cyclical

8.7%
4.0%

Energy

6.8%
7.4%

Communication Services

4.1%
3.1%

Basic Materials

3.0%
12.0%

Real Estate

1.0%
1.1%

Consumer Defensive

1.0%
13.0%

Healthcare

-

2.2%

Technology

-

1.5%

Financial Services

GREK
48.8%
TUR
14.7%

Utilities

GREK
14.3%
TUR
1.9%

Industrials

GREK
12.5%
TUR
24.2%

Consumer Cyclical

GREK
8.7%
TUR
4.0%

Energy

GREK
6.8%
TUR
7.4%

Communication Services

GREK
4.1%
TUR
3.1%

Basic Materials

GREK
3.0%
TUR
12.0%

Real Estate

GREK
1.0%
TUR
1.1%

Consumer Defensive

GREK
1.0%
TUR
13.0%

Healthcare

GREK

-

TUR
2.2%

Technology

GREK

-

TUR
1.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X MSCI Greece ETF

iShares MSCI Turkey ETF

Often compared with GREK:
GREK vs. VOOGREK vs. CLIXGREK vs. THDGREK vs. SPYGREK vs. LTC-USDGREK vs. EPIGREK vs. EWQ
Often compared with TUR:
TUR vs. VOOTUR vs. HEDJTUR vs. AMRTUR vs. EPOLTUR vs. SPYTUR vs. SFMTUR vs. VGK

Return for Risk

GREK vs. TUR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
GREK
GREK Risk / Return Rank: 5858
Overall Rank
GREK Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
GREK Sortino Ratio Rank: 6969
Sortino Ratio Rank
GREK Omega Ratio Rank: 6262
Omega Ratio Rank
GREK Calmar Ratio Rank: 4848
Calmar Ratio Rank
GREK Martin Ratio Rank: 4646
Martin Ratio Rank
TUR
TUR Risk / Return Rank: 2727
Overall Rank
TUR Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
TUR Sortino Ratio Rank: 2727
Sortino Ratio Rank
TUR Omega Ratio Rank: 2828
Omega Ratio Rank
TUR Calmar Ratio Rank: 2828
Calmar Ratio Rank
TUR Martin Ratio Rank: 2828
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GREK vs. TUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Greece ETF (GREK) and iShares MSCI Turkey ETF (TUR). 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.

GREKTURDifference
Sharpe ratioReturn per unit of total volatility
1.48
0.61

+0.87

Sortino ratioReturn per unit of downside risk
2.24
1.02

+1.23

Omega ratioGain probability vs. loss probability

1.27

1.13

+0.13

Calmar ratioReturn relative to maximum drawdown

1.71

0.94

+0.78

Martin ratioReturn relative to average drawdown

5.27

2.29

+2.98

GREK vs. TUR - Sharpe Ratio Comparison

The current GREK Sharpe Ratio is 1.48, which is higher than the TUR Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of GREK and TUR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GREK vs. TUR - Drawdown Comparison

The maximum GREK drawdown since its inception was -79.50%, which is greater than TUR's maximum drawdown of -72.34%. Use the drawdown chart below to compare losses from any high point for GREK and TUR.

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Drawdown Indicators

GREKTURDifference

Max Drawdown

Largest peak-to-trough decline

-79.50%

-72.34%

-7.16%

Max Drawdown (1Y)

Largest decline over 1 year

-21.32%

-16.07%

-5.25%

Max Drawdown (3Y)

Largest decline over 3 years

-21.32%

-31.63%

+10.31%

Max Drawdown (5Y)

Largest decline over 5 years

-30.46%

-31.63%

+1.17%

Max Drawdown (10Y)

Largest decline over 10 years

-57.04%

-59.25%

+2.21%

Current Drawdown

Current decline from peak

-0.62%

-29.55%

+28.93%

Average Drawdown

Average peak-to-trough decline

-44.86%

-39.79%

-5.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.92%

6.56%

+0.36%

Volatility

GREK vs. TUR - Volatility Comparison

Global X MSCI Greece ETF (GREK) has a higher volatility of 7.63% compared to iShares MSCI Turkey ETF (TUR) at 4.72%. This indicates that GREK's price experiences larger fluctuations and is considered to be riskier than TUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GREKTURDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.63%

4.72%

+2.91%

Volatility (6M)

Calculated over the trailing 6-month period

21.24%

20.10%

+1.14%

Volatility (1Y)

Calculated over the trailing 1-year period

24.67%

24.54%

+0.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.49%

34.14%

-9.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.85%

34.10%

-5.25%

GREK vs. TUR - Expense Ratio Comparison

GREK has a 0.56% expense ratio, which is lower than TUR's 0.59% expense ratio.

Dividends

GREK vs. TUR - Dividend Comparison

GREK's dividend yield for the trailing twelve months is around 2.43%, more than TUR's 2.20% yield.

PositionTTM20252024202320222021202020192018201720162015
GREK
Global X MSCI Greece ETF		2.43%3.46%4.63%2.61%2.82%2.16%2.62%2.25%2.41%2.13%1.95%1.52%
TUR
iShares MSCI Turkey ETF		2.20%2.40%1.79%4.43%1.97%4.22%0.87%3.29%4.05%2.64%2.89%3.04%

Frequently Asked Questions

GREK and TUR have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GREK has higher volatility (7.63%) compared to TUR (4.72%). In terms of maximum drawdown, GREK dropped -79.50% vs TUR's -72.34%.

On 10-year performance, GREK leads with 17.36% vs 2.90% for TUR. On fees, GREK is cheaper at 0.56% per year. On volatility, TUR has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, GREK has performed better with a 17.36% return vs 2.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GREK is cheaper with a 0.56% expense ratio, compared with 0.59% for TUR.

GREK has the higher dividend yield at 2.43%, compared with 2.20% for TUR.

GREK tracks MSCI All Greece Select 25/50 Index, while TUR tracks MSCI Turkey Investable Market Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.56% for GREK and 0.59% for TUR.

GREK currently has the higher Sharpe Ratio (1.48 vs 0.61), 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.

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