MakeText size/position wrong on a scaled viewport?

I am trying to draw text to the screen (using MakeText) but I am having positioning issues.

The best way to demonstrate this is to draw a string with a single MakeText command and then draw that same string, a single character at a time and accumulating the offset.

In my example, I overlay the single draw command version (red) on top of the character-by-character version (white). You can see the offset grows the longer the string gets.

In my example, I demonstrate this inside of the Blueprint editor; however the effects are identical at runtime.

If I change the zoom level in the Blueprint editor (or an appropriately scaled window at runtime), then I can get the offset to vanish (as seen on the bottom part of my image).

To be clear, this font does not have any kerning.

Here is my rendered example (in the Blueprint editor) at two different zoom scales.
TextExample

Is there some adjustment that I should be making when calculating the size or position manually?