# Performance & Risk
## Performance Evolution (USD)
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180
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140
120
100
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## Fund Profile
ESG Rating
ESG Relative Rating
CO2 Relative rating
28/02/19	28/08/19	28/02/20	28/08/20	28/02/21	28/08/21 28/02/22
Portfolio* (41.61%)	Benchmark (45.88%)
Data is rebased to 100 by AXA IM on the graph start date.
Past performance is not a reliable indicator of future results. Performance calculations are net of fees, based on the reinvestment of dividends. The benchmark, when there is one could be calculated on the
% of AUM covered by ESG absolute rating: Portfolio = 98.4% Benchmark = 99.9% (not meaningful for coverage below 50%)
% of AUM covered by CO2 intensity indicator: Portfolio
= 99.8% Benchmark = 99.3% (not meaningful for
| basis of net or gross dividend. Please refer to the Risk Analysis | prospectus for more information. |  |  | coverage below 50%) |
| --- | --- | --- | --- | --- |
|  | 1Y | 3Y | 5Y | Launch |  |
| Portfolio Volatility* (%) | 12.69 | 16.95 | 15.73 | 19.12 |  |
| Benchmark Volatility (%) | 11.60 | 17.21 | 15.14 | 15.83 |  |
| Relative Risk/Tracking Error  (%) | 3.88 | 4.39 | 4.59 | 6.63 |  |
| Sharpe Ratio | 0.30 | 0.73 | 0.66 | 0.22 |  |
| Information Ratio | -1.00 | 0.01 | 0.04 | -0.23 |  |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 28/02/21 28/02/22 | 28/02/20 28/02/21 | 28/02/19 29/02/20 | 28/02/18 28/02/19 | 28/02/17 28/02/18 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -4.18 | -7.15 | -9.38 | -9.51 | 41.61 | 64.65 | 2.85 | 35.98 | 1.26 | -6.92 | 24.91 | 96.05 |
| Benchmark | -2.58 | -3.66 | -5.26 | -7.37 | 45.88 | 71.83 | 7.81 | 30.25 | 3.89 | -0.84 | 18.79 | 183.76 |
| Excess Return | -1.60 | -3.49 | -4.11 | -2.15 | -4.26 | -7.18 | -4.96 | 5.73 | -2.63 | -6.08 | 6.12 | -87.71 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 13.99 | 25.53 | 22.04 | -12.84 | 25.61 | 2.05 | 2.51 | 4.25 | 29.56 | 9.94 |
| Benchmark | 18.54 | 16.25 | 26.60 | -9.41 | 23.97 | 7.86 | -2.36 | 4.94 | 26.68 | 15.83 |
| Excess Return | -4.55 | 9.28 | -4.56 | -3.43 | 1.63 | -5.81 | 4.88 | -0.68 | 2.89 | -5.89 |

Past performance is not a reliable indicator of future results. Performance calculations are net of fees, based on the reinvestment of dividends. The benchmark, when there is one could be calculated on the basis of net or gross dividend. Please refer to the prospectus for more information.
| Portfolio Analysis |  |
| --- | --- |
| Top 10 Holdings |
| Equity |  |  | Weighting (%) | Sector | Geography |
|  | Portfolio | Benchmark | Relative |  |  |
| Apple Inc | 6.85 | 4.20 | 2.65 | Information Technology | North America |
| Amazon.com Inc | 4.35 | 2.15 | 2.20 | Consumer Discretionary | North America |
| Alphabet Inc | 4.07 | 2.45 | 1.62 | Communication Services | North America |
| UnitedHealth Group Inc | 3.51 | 0.69 | 2.82 | Health Care | North America |
| Berkshire Hathaway Inc | 3.14 | 0.66 | 2.49 | Financials | North America |
| QUALCOMM Inc | 2.98 | 0.30 | 2.68 | Information Technology | North America |
| Roche Holding AG | 2.93 | 0.43 | 2.50 | Health Care | Europe |
| Charles Schwab Corp | 2.93 | 0.19 | 2.74 | Financials | North America |
| Prologis Inc | 2.89 | 0.17 | 2.73 | Real Estate | North America |
| ServiceNow Inc | 2.79 | 0.18 | 2.61 | Information Technology | North America |
| Total (%) | 36.45 | 11.41 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| UnitedHealth Group Inc | 3.51 | 0.69 | 2.82 |  | Microsoft Corp | 0.00 | 3.28 | -3.28 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Charles Schwab Corp | 2.93 | 0.19 | 2.74 |  | Tesla Inc | 0.00 | 1.13 | -1.13 |
| Prologis Inc | 2.89 | 0.17 | 2.73 |  | NVIDIA Corp | 0.00 | 0.94 | -0.94 |
| QUALCOMM Inc | 2.98 | 0.30 | 2.68 |  | Taiwan Semiconductor Manufacturi... | 0.00 | 0.82 | -0.82 |
| Apple Inc | 6.85 | 4.20 | 2.65 |  | Johnson & Johnson | 0.00 | 0.67 | -0.67 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)

### -3	-2	-1	0	1	2	3	4	5
Information Technology	23.44	22.34
Health Care	16.33	11.59
Financials	14.22	14.80
Consumer Discretionary	11.61	11.73
Industrials	8.22	9.57
Communication Services	8.14	8.28
Consumer Staples	7.25	7.09
Energy	4.78	4.22
Real Estate	2.89	2.64
Materials	2.09	4.96
Not classified	0.00	0.00
Utilities	0.00	2.79
Cash	1.02	0.00

## Securities Exposure by geographical area (%)
Portfolio	Benchmark
North America	64.81	63.28
Europe	19.73	16.72
Emerging Markets	7.21	6.37
Pacific ex-Japan	4.10	8.01
Japan	3.13	5.62
Cash	1.02	0.00

## Active Exposure by Geography (%)

### -4	-3	-2	-1	0	1	2	3	4
MarketCap Breakdown (EUR - %)
36
33
30
27
24
21
18
15
12
9
6
3
0	500mn To
1bn
1bn To 3bn
3bn To 5bn
5bn To 10bn
10bn To 25bn
25bn To 100bn
100bn To 250bn
More Than 250bn
Cash
Port.	1.33	0.35	-	9.66	15.36	18.94	20.11	33.22	1.02
Bench.	-	0.34	1.23	4.97	14.73	32.77	20.66	25.30	-

Translation (ENFR, 2022-02-28):
# Performance et risque
## Evolution de la performance (USD)
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180
160
140
120
100
80
60
Valeur liquidative
Cap.

### 196.05
Actif net du fonds (M)
EUR

### 130.41
Depuis le: 01/01/2015
100% MSCI AC World Total Return Net
Port.

## Caractéristiques du portefeuille
Indice de réf.
Nombre de lignes	45 2959 Turnover: Glissant 1an (%)		8	- Active Share (%)	85	-

## Profil du portefeuille
Notation ESG
Notation ESG relative
Intensité relative en CO2
28/02/19
28/08/19
28/02/20
28/08/20
28/02/21
28/08/21 28/02/22
Portefeuille* (41.61%)	Indice de réference (45.88%)
Les données sont rebasées à 100 par AXA IM à la date de début du graphique.
| Analyse du risque |  |
| --- | --- |
|  | 1 an | 3 ans | 5 ans | Création |
| Volatilité du portefeuille* (%) | 12.69 | 16.95 | 15.73 | 19.12 |
| Volatilité de l'indice de référence (%) | 11.60 | 17.21 | 15.14 | 15.83 |
| Risque relatif/Tracking Error  (%) | 3.88 | 4.39 | 4.59 | 6.63 |
| Ratio de Sharpe | 0.30 | 0.73 | 0.66 | 0.22 |
| Ratio d'information | -1.00 | 0.01 | 0.04 | -0.23 |

Les performances passées ne préjugent pas des résultats futurs. Les calculs de performances sont nets de frais et réalisés coupons réinvestis. L’indice de référence, le cas échéant, pourrait être calculé sur la base des coupons nets ou bruts. Veuillez consulter le prospectus pour obtenir plus d’informations.
% de l’encours sous gestion couvert par la note ESG absolue : Portefeuille = 98.4% Indice de référence = 99.9% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)
% de l’encours sous gestion couvert par l’indicateur d’intensité en CO2 : Portefeuille = 99.8% Indice de référence = 99.3% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)

## Performance glissante (%)
|  | 1 mois | 3 mois | 6 mois | YTD | 3 ans | 5 ans | 28/02/21 28/02/22 | 28/02/20 28/02/21 | 28/02/19 29/02/20 | 28/02/18 28/02/19 | 28/02/17 28/02/18 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -4.18 | -7.15 | -9.38 | -9.51 | 41.61 | 64.65 | 2.85 | 35.98 | 1.26 | -6.92 | 24.91 | 96.05 |
| Indice de réference | -2.58 | -3.66 | -5.26 | -7.37 | 45.88 | 71.83 | 7.81 | 30.25 | 3.89 | -0.84 | 18.79 | 183.76 |
| Ecarts | -1.60 | -3.49 | -4.11 | -2.15 | -4.26 | -7.18 | -4.96 | 5.73 | -2.63 | -6.08 | 6.12 | -87.71 |

Performance calendaire annuelle (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 13.99 | 25.53 | 22.04 | -12.84 | 25.61 | 2.05 | 2.51 | 4.25 | 29.56 | 9.94 |
| Indice de réference | 18.54 | 16.25 | 26.60 | -9.41 | 23.97 | 7.86 | -2.36 | 4.94 | 26.68 | 15.83 |
| Ecarts | -4.55 | 9.28 | -4.56 | -3.43 | 1.63 | -5.81 | 4.88 | -0.68 | 2.89 | -5.89 |

Les performances passées ne préjugent pas des résultats futurs. Les calculs de performances sont nets de frais et réalisés coupons réinvestis. L’indice de référence, le cas échéant, pourrait être calculé sur la base des coupons nets ou bruts. Veuillez consulter le prospectus pour obtenir plus d’informations.
| Analyse du portefeuille |  |
| --- | --- |
| 10 principaux titres |
| Action |  | Pondération (%) | Secteur | Géographie |
| Portefeuille | Indice de réference | Relative |  |  |
| Apple Inc	6.85 | 4.20 | 2.65 | Technologie | Amérique du Nord |
| Amazon.com Inc	4.35 | 2.15 | 2.20 | Biens de conso. Cycliques | Amérique du Nord |
| Alphabet Inc	4.07 | 2.45 | 1.62 | Services de Communication | Amérique du Nord |
| UnitedHealth Group Inc	3.51 | 0.69 | 2.82 | Santé | Amérique du Nord |
| Berkshire Hathaway Inc	3.14 | 0.66 | 2.49 | Finance | Amérique du Nord |
| QUALCOMM Inc	2.98 | 0.30 | 2.68 | Technologie | Amérique du Nord |
| Roche Holding AG	2.93 | 0.43 | 2.50 | Santé | Europe |
| Charles Schwab Corp	2.93 | 0.19 | 2.74 | Finance | Amérique du Nord |
| Prologis Inc	2.89 | 0.17 | 2.73 | Immobilier | Amérique du Nord |
| ServiceNow Inc	2.79 | 0.18 | 2.61 | Technologie | Amérique du Nord |
| Total (%)	36.45 | 11.41 |  |  |  |


## 5 principales surpondérations (%)	5 principales sous-pondérations (%)
Port. Indice Relative de réf.
Port. Indice Relative de réf.
| UnitedHealth Group Inc | 3.51 | 0.69 | 2.82 |  | Microsoft Corp | 0.00 | 3.28 | -3.28 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Charles Schwab Corp | 2.93 | 0.19 | 2.74 |  | Tesla Inc | 0.00 | 1.13 | -1.13 |
| Prologis Inc | 2.89 | 0.17 | 2.73 |  | NVIDIA Corp | 0.00 | 0.94 | -0.94 |
| QUALCOMM Inc | 2.98 | 0.30 | 2.68 |  | Taiwan Semiconductor Manufacturi... | 0.00 | 0.82 | -0.82 |
| Apple Inc | 6.85 | 4.20 | 2.65 |  | Johnson & Johnson | 0.00 | 0.67 | -0.67 |


## Exposition sectorielle (%)
Portefeuille	Indice de réference

## Exposition sectorielle active (%)
-3	-2	-1	0	1	2	3	4	5
Technologie	23.44	22.34
Santé	16.33	11.59
Finance	14.22	14.80
Biens de conso. Cycliques	11.61	11.73
Industrie	8.22	9.57
Services de Communication	8.14	8.28
Biens de conso. de base	7.25	7.09
Energie	4.78	4.22
Immobilier	2.89	2.64
Matériaux	2.09	4.96
Non Classés	0.00	0.00
Services aux collectivités	0.00	2.79
Monétaire	1.02	0.00

## Exposition Actions par zone géographique (%)
Portefeuille	Indice de réference
Amérique du Nord	64.81	63.28
Europe	19.73	16.72
Pays Emergent	7.21	6.37
Pacifique ex-Japon	4.10	8.01
Japon	3.13	5.62
Monétaire	1.02	0.00

## Exposition régionale active (%)
-4	-3	-2	-1	0	1	2	3	4

## Ventilation par capitalisation boursière (EUR - %)
36
33
30
27
24
21
18
15
12
9
6
3
0	De 500 mns
à 1 md
De 1 à
3 mds
De 3 à
5 mds
De 5 à
10 mds
De 10 à
25 mds
De 25 à
100 mds
De 100 à
250 mds
Plus de 250 mds
Monétaire
Port.	1.33	0.35	-	9.66	15.36	18.94	20.11	33.22	1.02
Indice de réf.	-	0.34	1.23	4.97	14.73	32.77	20.66	25.30	-