# Performance & Risk
## Performance Evolution (EUR)
Assets Under Management (M)
USD

### 22.43
Number of Holdings	180
Number of Issuers	147

## Fund Profile
120
115
110
105
100
95
28/02/19
28/08/19
28/02/20
28/08/20
28/02/21
28/08/21
28/02/22
ESG Rating
% of AUM covered by ESG absolute rating: Portfolio = 87.3% (not meaningful for coverage below 50%)
Portfolio* (8.29%)
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 basis of net or gross dividend. Please refer to the prospectus for more information.
| Risk Analysis |  |
| --- | --- |
|  | 1Y | 3Y | 5Y | Launch |
| Portfolio Volatility* (%) | 4.10 | 6.95 | 5.57 | 4.78 |
| Sharpe Ratio | -0.70 | 0.54 | 0.46 | 0.82 |


## 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* | -2.40 | -5.40 | -6.39 | -4.93 | 8.29 | 7.80 | -4.06 | 2.96 | 9.63 | -0.74 | 0.29 | 41.34 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -1.48 | 7.84 | 9.23 | -4.51 | 3.36 | 5.19 | -1.03 | 7.58 | 0.28 | 12.29 |

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 |
| Name | Weighting (%) | Issuer country | Mod. Duration | Contribution |
| JPMorgan Chase & Co VAR 01/23/2029 | 2.01 | United States | 5.2 | 0.10 |
| UniCredit SpA VAR 07/03/2025 | 1.58 | Italy | 2.3 | 0.04 |
| Bank of America Corp VAR 10/22/2025 | 1.46 | United States | 2.5 | 0.04 |
| Webster Financial Corp 4.1% 03/25/2029 | 1.18 | United States | 5.9 | 0.07 |
| Anheuser-Busch InBev Worldwide 5.55% 01/23/2049 | 1.17 | Belgium | 15.0 | 0.17 |
| Amgen Inc 4.95% 10/01/2041 | 1.08 | United States | 12.8 | 0.14 |
| Teachers Insurance & Annuity 4.9% 09/15/2044 | 1.08 | United States | 13.9 | 0.15 |
| DONG Energy A/S VAR 02/18/3021 | 0.99 | Denmark | 9.2 | 0.09 |
| Credit Agricole SA/London VAR 06/16/2026 | 0.96 | France | 3.1 | 0.03 |
| Deutsche Bank AG VAR 09/03/2026 | 0.94 | Germany | 3.4 | 0.03 |
| Total (%) | 12.46 |  |  |  |

| Sector Breakdown (%) |  |
| --- | --- |
|  | Portfolio |
| Industrials | 43.48 |
| Financial | 38.50 |
| Utility | 7.94 |
| Cash | 10.07 |


## Contribution to duration by sector
5
4
3
2
1
0
|  | Industrials | Financial | Utility | Cash |
| --- | --- | --- | --- | --- |
|  | Port. | 4.0 | 1.8 | 0.6 | -0.6 |

-1

## Securities Exposure by geographical area (%)	Contribution to Duration by Geography
Portfolio
United States	49.16
France	5.54
United Kingdom	5.48
Canada	4.15
Italy	3.95
Spain	3.28
Netherlands	3.09
Germany	3.04
Sweden	1.63
Belgium	1.50
Other	9.10
Cash	10.07
4
3
2
1
United States
United Kingdom
France
Belgium
Spain
Italy
Netherlands
Canada
Sweden
Other
0
Port. 3.6	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.1	0.5

## Maturity Breakdown (%)
28
24
20
16
12
8
4
0	0-1 year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 years
Portfolio	0.87	4.75	25.93	17.60	20.15	12.34	18.36

## Rating Breakdown (%)
70
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |  |  |
|  |  |  |  |  |

60
50
40
30
20
10
| 0 | AA | A | BBB | BB | B | NR | Cash |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 1.59 | 22.93 | 59.67 | 4.72 | 0.70 | 0.32 | 10.07 |


## Currency Breakdown (%)
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |  |  |

80
60
40
20
| 0 | USD | EUR | GBP | CAD |
| --- | --- | --- | --- | --- |
| Portfolio | 70.89 | 23.30 | 4.24 | 1.57 |

Translation (ENFR, 2022-02-28):
# Performance et risque
## Evolution de la performance (EUR)
Actif net du fonds (M)
|  | Port. |
| --- | --- |
| Rating moyen linéaire | BBB+ |
| Mod. Duration | 5.82 |
| Mod. Duration To Worst | 5.96 |
| Yield to worst (%) | 2.57 |
| Nombre de lignes | 180 |
| Nombre d'émetteurs | 147 |
| Profil du portefeuille |  |
| Notation ESG |  |

USD

### 22.43
120
115
110
105
100
95
28/02/19
28/08/19
28/02/20
28/08/20
28/02/21
28/08/21
28/02/22
% de l’encours sous gestion couvert par la note ESG absolue : Portefeuille = 87.3% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)
Portefeuille* (8.29%)
Les données sont rebasées à 100 par AXA IM à la date de début du graphique.
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 risque |  |
| --- | --- |
|  | 1 an | 3 ans | 5 ans | Création |
| Volatilité du portefeuille* (%) | 4.10 | 6.95 | 5.57 | 4.78 |
| Ratio de Sharpe | -0.70 | 0.54 | 0.46 | 0.82 |


## Performance glissante (%)
28/02/22
1 mois	3 mois	6 mois	YTD	3 ans	5 ans	28/02/21
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*	-2.40	-5.40	-6.39	-4.93	8.29	7.80	-4.06	2.96	9.63	-0.74	0.29	41.34
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -1.48 | 7.84 | 9.23 | -4.51 | 3.36 | 5.19 | -1.03 | 7.58 | 0.28 | 12.29 |


## Performance calendaire annuelle (%)
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 |
| Libellé | Pondération (%) | Pays émetteur | Mod. Duration | Contribution |
| JPMorgan Chase & Co VAR 01/23/2029 | 2.01 | Etats-Unis | 5.2 | 0.10 |
| UniCredit SpA VAR 07/03/2025 | 1.58 | Italie | 2.3 | 0.04 |
| Bank of America Corp VAR 10/22/2025 | 1.46 | Etats-Unis | 2.5 | 0.04 |
| Webster Financial Corp 4.1% 03/25/2029 | 1.18 | Etats-Unis | 5.9 | 0.07 |
| Anheuser-Busch InBev Worldwide 5.55% 01/23/2049 | 1.17 | Belgique | 15.0 | 0.17 |
| Amgen Inc 4.95% 10/01/2041 | 1.08 | Etats-Unis | 12.8 | 0.14 |
| Teachers Insurance & Annuity 4.9% 09/15/2044 | 1.08 | Etats-Unis | 13.9 | 0.15 |
| DONG Energy A/S VAR 02/18/3021 | 0.99 | Danemark | 9.2 | 0.09 |
| Credit Agricole SA/London VAR 06/16/2026 | 0.96 | France | 3.1 | 0.03 |
| Deutsche Bank AG VAR 09/03/2026 | 0.94 | Allemagne | 3.4 | 0.03 |
| Total (%) | 12.46 |  |  |  |


## Exposition sectorielle (%)	Contribution à la duration par secteur
Portefeuille
Industrie	43.48	5
Finance	38.50	4
Serv. aux collect.	7.94	3
Cash	10.07	2
1
0
|  | Industrie | Finance | Serv. aux collect. | Cash |
| --- | --- | --- | --- | --- |
|  | Port. | 4.0 | 1.8 | 0.6 | -0.6 |

-1

## Exposition Actions par zone géographique (%)	Contribution à la duration par géographie
Portefeuille
| France | 5.54 |
| --- | --- |
| Royaume-Uni | 5.48 |
| Canada | 4.15 |
| Italie | 3.95 |

Etats-Unis	49.16	4
3
2
Etats-Unis
Royaume-Uni
France
Belgique
Espagne
Italie
Pays-Bas
Canada
Suède
Autres
1
| Pays-Bas | 3.09 |  |
| --- | --- | --- |
| Allemagne | 3.04 |
| Suède | 1.63 |  | Port. | 3.6 | 0.3	0.3 | 0.2 | 0.2	0.2 | 0.2 | 0.2 | 0.1 | 0.5 |
| Belgique | 1.50 |  |
| Autres | 9.10 |
| Cash | 10.07 |
| Exposition par Maturité (%) |  |

28
24
20
16
12
8
4
| 0 | 0-1 an | 1-3 ans | 3-5 ans | 5-7 ans | 7-10 ans | 10-20 ans | + 20 ans |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille | 0.87 | 4.75 | 25.93 | 17.60 | 20.15 | 12.34 | 18.36 |


## Exposition par rating (%)
70
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |  |  |
|  |  |  |  |  |

60
50
40
30
20
10
| 0 | AA | A | BBB | BB | B | NR | Cash |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille | 1.59 | 22.93 | 59.67 | 4.72 | 0.70 | 0.32 | 10.07 |


## Exposition par devise (%)
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |  |  |

80
60
40
20
| 0 | USD | EUR | GBP | CAD |
| --- | --- | --- | --- | --- |
| Portefeuille | 70.89 | 23.30 | 4.24 | 1.57 |