GRX.DE vs. XB4A.DE
GRX.DE (Expat Greece ASE UCITS ETF) and XB4A.DE (Xtrackers ATX UCITS ETF (Acc)) are both Europe Equities funds - GRX.DE tracks the FTSE ATHEX Composite Index while XB4A.DE tracks the ATX Index. Both are passively managed. Over the past 5 years, GRX.DE returned 19.18%/yr vs 18.18%/yr for XB4A.DE. At a 0.37 correlation, their price movements are largely independent. GRX.DE charges 1.38%/yr vs 0.25%/yr for XB4A.DE.
Performance
GRX.DE vs. XB4A.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 lower than XB4A.DE's 24.81% 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*
- —
XB4A.DE
- 1D
- -0.62%
- 1M
- 1.14%
- 6M
- 22.10%
- YTD
- 24.81%
- 1Y
- 48.60%
- 3Y*
- 31.52%
- 5Y*
- 18.18%
- 10Y*
- 14.71%
GRX.DE vs. XB4A.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% |
XB4A.DE Xtrackers ATX UCITS ETF (Acc) | 24.81% | 51.29% | 11.01% | 14.27% | -16.45% | 42.39% | -10.86% | 19.79% | -18.32% |
Correlation
The correlation between GRX.DE and XB4A.DE is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2018 | 0.37 |
The correlation between GRX.DE and XB4A.DE shifts across timeframes, from 0.34 (3 years) to 0.45 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GRX.DE vs. XB4A.DE — Risk / Return Rank
GRX.DE
XB4A.DE
GRX.DE vs. XB4A.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Expat Greece ASE UCITS ETF (GRX.DE) and Xtrackers ATX UCITS ETF (Acc) (XB4A.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 | XB4A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.44 | ||
| Sortino ratioReturn per unit of downside risk | -2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.46 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 4.44 | -2.89 |
| Martin ratioReturn relative to average drawdown | 4.59 | 15.07 | -10.47 |
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Drawdowns
GRX.DE vs. XB4A.DE - Drawdown Comparison
The maximum GRX.DE drawdown since its inception was -44.54%, smaller than the maximum XB4A.DE drawdown of -53.54%. Use the drawdown chart below to compare losses from any high point for GRX.DE and XB4A.DE.
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Drawdown Indicators
| GRX.DE | XB4A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.54% | -53.54% | +9.00% |
Max Drawdown (1Y)Largest decline over 1 year | -17.09% | -10.88% | -6.21% |
Max Drawdown (3Y)Largest decline over 3 years | -18.19% | -16.26% | -1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -27.66% | -32.50% | +4.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -53.54% | — |
Current DrawdownCurrent decline from peak | -2.70% | -1.85% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -12.60% | -9.88% | -2.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.80% | 3.22% | +2.58% |
Volatility
GRX.DE vs. XB4A.DE - Volatility Comparison
The current volatility for Expat Greece ASE UCITS ETF (GRX.DE) is 4.20%, while Xtrackers ATX UCITS ETF (Acc) (XB4A.DE) has a volatility of 5.22%. This indicates that GRX.DE experiences smaller price fluctuations and is considered to be less risky than XB4A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRX.DE | XB4A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 5.22% | -1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 17.17% | 14.88% | +2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.40% | 17.61% | +2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.26% | 19.15% | +1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.53% | 20.15% | +1.38% |
GRX.DE vs. XB4A.DE - Expense Ratio Comparison
GRX.DE has a 1.38% expense ratio, which is higher than XB4A.DE's 0.25% expense ratio.
Dividends
GRX.DE vs. XB4A.DE - Dividend Comparison
Neither GRX.DE nor XB4A.DE has paid dividends to shareholders.
Frequently Asked Questions
GRX.DE and XB4A.DE have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XB4A.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XB4A.DE is cheaper with a 0.25% expense ratio, compared with 1.38% for GRX.DE.
GRX.DE tracks FTSE ATHEX Composite Index, while XB4A.DE tracks ATX Index. They also come from different issuers: Expat and Xtrackers. Their fees differ too: 1.38% for GRX.DE and 0.25% for XB4A.DE.
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