MKK1.DE vs. H4ZZ.DE
MKK1.DE (Expat Macedonia MBI10 UCITS ETF) and H4ZZ.DE (HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)) are both Europe Equities funds - MKK1.DE tracks the MBI10 Index while H4ZZ.DE tracks the EURO STOXX 50. Both are passively managed. Over the past year, MKK1.DE returned -10.30% vs 20.11% for H4ZZ.DE. At a 0.04 correlation, their price movements are largely independent. MKK1.DE charges 1.38%/yr vs 0.05%/yr for H4ZZ.DE.
Performance
MKK1.DE vs. H4ZZ.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 H4ZZ.DE's 10.36% 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*
- —
H4ZZ.DE
- 1D
- -0.19%
- 1M
- 0.80%
- 6M
- 6.42%
- YTD
- 10.36%
- 1Y
- 20.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MKK1.DE vs. H4ZZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MKK1.DE Expat Macedonia MBI10 UCITS ETF | -6.62% | -4.69% | 29.95% |
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) | 10.36% | 22.35% | -2.42% |
Correlation
The correlation between MKK1.DE and H4ZZ.DE is -0.10, 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 | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024 | 0.04 |
The correlation between MKK1.DE and H4ZZ.DE shifts across timeframes, from -0.10 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MKK1.DE vs. H4ZZ.DE — Risk / Return Rank
MKK1.DE
H4ZZ.DE
MKK1.DE vs. H4ZZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Expat Macedonia MBI10 UCITS ETF (MKK1.DE) and HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.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 | H4ZZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.24 | ||
| Sortino ratioReturn per unit of downside risk | -3.28 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.23 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 1.83 | -2.60 |
| Martin ratioReturn relative to average drawdown | -1.83 | 6.40 | -8.23 |
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Drawdowns
MKK1.DE vs. H4ZZ.DE - Drawdown Comparison
The maximum MKK1.DE drawdown since its inception was -33.12%, which is greater than H4ZZ.DE's maximum drawdown of -16.46%. Use the drawdown chart below to compare losses from any high point for MKK1.DE and H4ZZ.DE.
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Drawdown Indicators
| MKK1.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.12% | -16.46% | -16.66% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -10.94% | -1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.62% | — | — |
Current DrawdownCurrent decline from peak | -15.61% | -2.21% | -13.40% |
Average DrawdownAverage peak-to-trough decline | -8.13% | -2.63% | -5.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.44% | 3.13% | +2.31% |
Volatility
MKK1.DE vs. H4ZZ.DE - Volatility Comparison
The current volatility for Expat Macedonia MBI10 UCITS ETF (MKK1.DE) is 2.86%, while HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) has a volatility of 4.01%. This indicates that MKK1.DE experiences smaller price fluctuations and is considered to be less risky than H4ZZ.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 | H4ZZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 4.01% | -1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 6.87% | 13.41% | -6.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.97% | 16.07% | -6.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.50% | 16.76% | -3.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 16.76% | -0.70% |
MKK1.DE vs. H4ZZ.DE - Expense Ratio Comparison
MKK1.DE has a 1.38% expense ratio, which is higher than H4ZZ.DE's 0.05% expense ratio.
Dividends
MKK1.DE vs. H4ZZ.DE - Dividend Comparison
Neither MKK1.DE nor H4ZZ.DE has paid dividends to shareholders.
Frequently Asked Questions
MKK1.DE and H4ZZ.DE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZZ.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZZ.DE is cheaper with a 0.05% expense ratio, compared with 1.38% for MKK1.DE.
MKK1.DE tracks MBI10 Index, while H4ZZ.DE tracks EURO STOXX 50. They also come from different issuers: Expat and HSBC. Their fees differ too: 1.38% for MKK1.DE and 0.05% for H4ZZ.DE.
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