MKK1.DE vs. ESNB.DE
MKK1.DE (Expat Macedonia MBI10 UCITS ETF) and ESNB.DE (Expat Serbia BELEX15 UCITS ETF) are both Europe Equities funds from Expat - MKK1.DE tracks the MBI10 Index while ESNB.DE tracks the BELEX15 Index. Both are passively managed. Over the past 5 years, MKK1.DE returned 6.28%/yr vs -1.86%/yr for ESNB.DE. At a 0.08 correlation, their price movements are largely independent. Both charge a 1.38% expense ratio.
Performance
MKK1.DE vs. ESNB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, MKK1.DE achieves a -6.62% return, which is significantly higher than ESNB.DE's -7.20% return.
MKK1.DE
- 1D
- -0.50%
- 1M
- -5.06%
- 6M
- -8.12%
- YTD
- -6.62%
- 1Y
- -10.30%
- 3Y*
- 12.27%
- 5Y*
- 6.28%
- 10Y*
- —
ESNB.DE
- 1D
- -0.13%
- 1M
- -0.70%
- 6M
- -5.93%
- YTD
- -7.20%
- 1Y
- -5.98%
- 3Y*
- -1.71%
- 5Y*
- -1.86%
- 10Y*
- —
MKK1.DE vs. ESNB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MKK1.DE Expat Macedonia MBI10 UCITS ETF | -6.62% | -4.69% | 56.10% | 5.81% | -18.85% | 28.19% | 6.43% | 28.44% | 13.78% |
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% |
Correlation
The correlation between MKK1.DE and ESNB.DE is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2018 | 0.08 |
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Return for Risk
MKK1.DE vs. ESNB.DE — Risk / Return Rank
MKK1.DE
ESNB.DE
MKK1.DE vs. ESNB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Expat Macedonia MBI10 UCITS ETF (MKK1.DE) and Expat Serbia BELEX15 UCITS ETF (ESNB.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.
| MKK1.DE | ESNB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.91 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.49 | -0.28 |
| Martin ratioReturn relative to average drawdown | -1.83 | -1.05 | -0.78 |
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Drawdowns
MKK1.DE vs. ESNB.DE - Drawdown Comparison
The maximum MKK1.DE drawdown since its inception was -33.12%, which is greater than ESNB.DE's maximum drawdown of -22.77%. Use the drawdown chart below to compare losses from any high point for MKK1.DE and ESNB.DE.
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Drawdown Indicators
| MKK1.DE | ESNB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.12% | -22.77% | -10.35% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -10.40% | -2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | -12.60% | -4.07% |
Max Drawdown (5Y)Largest decline over 5 years | -25.62% | -15.85% | -9.77% |
Current DrawdownCurrent decline from peak | -15.61% | -13.87% | -1.74% |
Average DrawdownAverage peak-to-trough decline | -8.13% | -8.44% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.44% | 4.88% | +0.56% |
Volatility
MKK1.DE vs. ESNB.DE - Volatility Comparison
The current volatility for Expat Macedonia MBI10 UCITS ETF (MKK1.DE) is 2.86%, while Expat Serbia BELEX15 UCITS ETF (ESNB.DE) has a volatility of 3.07%. This indicates that MKK1.DE experiences smaller price fluctuations and is considered to be less risky than ESNB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MKK1.DE | ESNB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 3.07% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 6.87% | 6.22% | +0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.97% | 9.76% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.50% | 10.53% | +2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 12.11% | +3.95% |
MKK1.DE vs. ESNB.DE - Expense Ratio Comparison
Both MKK1.DE and ESNB.DE have an expense ratio of 1.38%.
Dividends
MKK1.DE vs. ESNB.DE - Dividend Comparison
Neither MKK1.DE nor ESNB.DE has paid dividends to shareholders.
Frequently Asked Questions
MKK1.DE and ESNB.DE have a correlation of 0.13, 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.
MKK1.DE and ESNB.DE have the same expense ratio: 1.38% per year.
MKK1.DE tracks MBI10 Index, while ESNB.DE tracks BELEX15 Index.
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