GRX.DE vs. CZX.DE
GRX.DE (Expat Greece ASE UCITS ETF) and CZX.DE (Expat Czech PX UCITS ETF) are both Europe Equities funds from Expat - GRX.DE tracks the FTSE ATHEX Composite Index while CZX.DE tracks the PX Index. Both are passively managed. Over the past 5 years, GRX.DE returned 19.18%/yr vs 17.96%/yr for CZX.DE. At a 0.34 correlation, their price movements are largely independent. Both charge a 1.38% expense ratio.
Performance
GRX.DE vs. CZX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GRX.DE achieves a 17.31% return, which is significantly higher than CZX.DE's -0.76% return.
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
- 1D
- 0.09%
- 1M
- 0.94%
- 6M
- -2.81%
- YTD
- -0.76%
- 1Y
- 25.11%
- 3Y*
- 26.57%
- 5Y*
- 17.96%
- 10Y*
- —
GRX.DE vs. CZX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between GRX.DE and CZX.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
GRX.DE vs. CZX.DE — Risk / Return Rank
GRX.DE
CZX.DE
GRX.DE vs. CZX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Expat Greece ASE UCITS ETF (GRX.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.
| GRX.DE | CZX.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 | 1.25 | 1.27 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.04 | -0.48 |
| Martin ratioReturn relative to average drawdown | 4.59 | 5.25 | -0.66 |
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Drawdowns
GRX.DE vs. CZX.DE - Drawdown Comparison
The maximum GRX.DE drawdown since its inception was -44.54%, which is greater than CZX.DE's maximum drawdown of -41.92%. Use the drawdown chart below to compare losses from any high point for GRX.DE and CZX.DE.
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Drawdown Indicators
| GRX.DE | CZX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.54% | -41.92% | -2.62% |
Max Drawdown (1Y)Largest decline over 1 year | -17.09% | -12.60% | -4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -18.19% | -12.60% | -5.59% |
Max Drawdown (5Y)Largest decline over 5 years | -27.66% | -25.87% | -1.79% |
Current DrawdownCurrent decline from peak | -2.70% | -4.39% | +1.69% |
Average DrawdownAverage peak-to-trough decline | -12.60% | -8.94% | -3.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.80% | 4.90% | +0.90% |
Volatility
GRX.DE vs. CZX.DE - Volatility Comparison
Expat Greece ASE UCITS ETF (GRX.DE) and Expat Czech PX UCITS ETF (CZX.DE) have volatilities of 4.20% and 4.33%, 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
| GRX.DE | CZX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 4.33% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 17.17% | 14.19% | +2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.40% | 17.56% | +2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.26% | 17.14% | +3.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.53% | 18.39% | +3.14% |
GRX.DE vs. CZX.DE - Expense Ratio Comparison
Both GRX.DE and CZX.DE have an expense ratio of 1.38%.
Dividends
GRX.DE vs. CZX.DE - Dividend Comparison
Neither GRX.DE nor CZX.DE has paid dividends to shareholders.
Frequently Asked Questions
GRX.DE and CZX.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.
GRX.DE and CZX.DE have the same expense ratio: 1.38% per year.
GRX.DE tracks FTSE ATHEX Composite Index, while CZX.DE tracks PX Index.
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