MKK1.DE vs. GRX.DE
MKK1.DE (Expat Macedonia MBI10 UCITS ETF) and GRX.DE (Expat Greece ASE UCITS ETF) are both Europe Equities funds from Expat - MKK1.DE tracks the MBI10 Index while GRX.DE tracks the FTSE ATHEX Composite Index. Both are passively managed. Over the past 5 years, MKK1.DE returned 6.28%/yr vs 19.18%/yr for GRX.DE. At a 0.07 correlation, their price movements are largely independent. Both charge a 1.38% expense ratio.
Performance
MKK1.DE vs. GRX.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 lower than GRX.DE's 17.31% 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*
- —
GRX.DE
- 1D
- -0.34%
- 1M
- 1.13%
- 6M
- 10.97%
- YTD
- 17.31%
- 1Y
- 26.73%
- 3Y*
- 22.75%
- 5Y*
- 19.18%
- 10Y*
- —
MKK1.DE vs. GRX.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% |
GRX.DE Expat Greece ASE UCITS ETF | 17.31% | 44.63% | 13.08% | 38.74% | -12.12% | 9.54% | -18.16% | 38.85% | -27.38% |
Correlation
The correlation between MKK1.DE and GRX.DE is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2018 | 0.07 |
The correlation between MKK1.DE and GRX.DE shifts across timeframes, from -0.09 (1 year) to 0.08 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MKK1.DE vs. GRX.DE — Risk / Return Rank
MKK1.DE
GRX.DE
MKK1.DE vs. GRX.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 Greece ASE UCITS ETF (GRX.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 | GRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.25 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 1.56 | -2.33 |
| Martin ratioReturn relative to average drawdown | -1.83 | 4.59 | -6.42 |
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Drawdowns
MKK1.DE vs. GRX.DE - Drawdown Comparison
The maximum MKK1.DE drawdown since its inception was -33.12%, smaller than the maximum GRX.DE drawdown of -44.54%. Use the drawdown chart below to compare losses from any high point for MKK1.DE and GRX.DE.
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Drawdown Indicators
| MKK1.DE | GRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.12% | -44.54% | +11.42% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -17.09% | +4.30% |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | -18.19% | +1.52% |
Max Drawdown (5Y)Largest decline over 5 years | -25.62% | -27.66% | +2.04% |
Current DrawdownCurrent decline from peak | -15.61% | -2.70% | -12.91% |
Average DrawdownAverage peak-to-trough decline | -8.13% | -12.60% | +4.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.44% | 5.80% | -0.36% |
Volatility
MKK1.DE vs. GRX.DE - Volatility Comparison
The current volatility for Expat Macedonia MBI10 UCITS ETF (MKK1.DE) is 2.86%, while Expat Greece ASE UCITS ETF (GRX.DE) has a volatility of 4.20%. This indicates that MKK1.DE experiences smaller price fluctuations and is considered to be less risky than GRX.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 | GRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 4.20% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 6.87% | 17.17% | -10.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.97% | 20.40% | -10.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.50% | 20.26% | -6.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 21.53% | -5.47% |
MKK1.DE vs. GRX.DE - Expense Ratio Comparison
Both MKK1.DE and GRX.DE have an expense ratio of 1.38%.
Dividends
MKK1.DE vs. GRX.DE - Dividend Comparison
Neither MKK1.DE nor GRX.DE has paid dividends to shareholders.
Frequently Asked Questions
MKK1.DE and GRX.DE have a correlation of -0.09, 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 GRX.DE have the same expense ratio: 1.38% per year.
MKK1.DE tracks MBI10 Index, while GRX.DE tracks FTSE ATHEX Composite Index.
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