Expat Croatia CROBEX
UCITS ETF
A passive exchange-traded fund tracking the CROBEX Index on the Zagreb Stock Exchange through direct physical replication. Access Croatia’s dynamic economy with eurozone stability.
| Market | Ticker | Bloomberg Ticker | Reuters Ticker | ISIN |
| XETRA | ECDC | ECDC GY | ECDG.DE | BGCROEX03189 |
| BSE | ECDC | ECDC BU | BGCROEX03189 |
CROBEX Index
CROBEX is the main equity index of the Zagreb Stock Exchange (ZSE) and consists of 20 of the largest and most liquid Croatian companies. The index provides comprehensive exposure to Croatia’s key economic sectors.
The index is weighted by market capitalization and represents the core of the Croatian equity market. It includes leading companies from energy, telecommunications, industrials, tourism, food & beverage, and finance sectors.
With a current market capitalization of approximately €20 billion and average daily trading volume of €2 million, CROBEX offers sufficient liquidity for institutional and retail investors.
Key Stats
Sector Allocation
- Industrials
- Consumer Staples
- Consumer Discretionary
- Energy
- Communication
- Other
Top Holdings
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Croatia Economic Outlook
Croatia represents a unique investment opportunity – a developed, fast-growing economy with full eurozone integration. Since joining the EU in 2013 and adopting the euro in January 2023, Croatia has strengthened its economic stability and integration.
The country's GDP growth of +3.0% in 2025 outpaces the eurozone average, supported by €30 billion in EU funding, record tourism revenues, and a diversifying industrial base. The entry into the Schengen zone in March 2023 has further boosted tourism and trade.
With moderate inflation, declining debt-to-GDP ratio below 60%, and an investment-grade credit rating (A-), Croatia offers a compelling risk-reward profile for investors seeking eurozone exposure with higher-growth characteristics.
GDP Growth 2025
+3.4%
Inflation 2025
4.4%
Unemployment
4.5%
Debt / GDP
56.3%
EU Integration Milestones
EU Member
Since July 2013 – Full access to EU single market
Eurozone Member
Since January 2023 – EUR as official currency
Schengen Area
Since March 2023 – Border-free travel zone
Credit Rating
A- (Investment Grade) – Strong fiscal position
Expat Croatia
CROBEX UCITS ETF
Expat Croatia CROBEX UCITS ETF offers investors efficient exposure to Croatia’s equity market by tracking the CROBEX Index of the Zagreb Stock Exchange through direct physical replication. The fund provides diversified access to Croatia’s leading listed companies within a fully UCITS-regulated structure.
The ETF invests in the shares of companies included in the CROBEX Index – the main equity index of the Zagreb Stock Exchange consisting of 20 companies. The fund invests in all CROBEX companies in proportions closely matching those of the index within legal limitations.
Listed on the Frankfurt Stock Exchange (XETRA) and Bulgarian Stock Exchange, it offers broad accessibility to investors across Europe.
The ETF is an open-ended passively managed collective investment scheme. The fund does not pay dividends – profits are reinvested, increasing the net asset value to the benefit of investors.
Risk Information
The fund is exposed to market and currency risk – the possibility of losses due to adverse changes in the value of the reference index. Other key risk factors include:
- The NAV of the shares and their returns may fall, the returns are not guaranteed. Investors take the risk that they may get back less than they originally invested.
- Unusual circumstances such as trading obstruction on the stock exchange, surcharges, extremely volatile markets and others can lead to significant differences between the performance of the Fund and the performance of the Index.
- Liquidity risk – under certain conditions it may become difficult to sell portfolio holdings.
- Other risks: credit risk, interest risk, tax risk, regulatory risk, political risk, operational risk, price risk, currency risk, concentration risk, systemic risk, risk of the passive fund management, risk of corporate events, tracking error risk, events that affect the Reference Index, etc.
More information about risks can be found in the Prospectus. Past performance does not guarantee future results.
Returns
Historical Annual Returns
Past performance does not guarantee future results.
Return Summary
YTD
+2.25%
2025
+16.98%
5-Year CAGR (2021–2025)
+11.59%
Since Inception (Annualized)
+3.28%
Documents
Main Documents
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