# Performance & Risk
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## Performance Evolution (EUR)
160
140
120
100
80
60
30/08/19	29/02/20	31/08/20
28/02/21
31/08/21
28/02/22 31/08/22

## Fund Profile
ESG Rating
ESG Relative Rating
CO2 Relative rating
% of AUM covered by ESG absolute rating: Portfolio = 96.2% Benchmark = 99.9% (not meaningful for
Portfolio* (31.55%)	Benchmark (38.09%)
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.
coverage below 50%)
% of AUM covered by CO2 intensity indicator: Portfolio
= 96.2% Benchmark = 99.3% (not meaningful for coverage below 50%)
| Risk Analysis |  |
| --- | --- |
|  | 1Y | 3Y | 5Y | Launch |
| Portfolio Volatility* (%) | 21.16 | 16.01 | 15.56 | 17.65 |
| Benchmark Volatility (%) | 18.07 | 16.26 | 14.68 | 13.89 |
| Relative Risk/Tracking Error  (%) | 5.64 | 4.72 | 4.85 | 8.57 |
| Sharpe Ratio | -0.26 | 0.75 | 0.65 | 0.33 |
| Information Ratio | -0.84 | 0.08 | -0.15 | 0.17 |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 31/08/21 31/08/22 | 31/08/20 31/08/21 | 31/08/19 31/08/20 | 31/08/18 31/08/19 | 31/08/17 31/08/18 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -2.78 | 3.12 | -2.73 | -11.03 | 31.55 | 45.34 | -7.79 | 23.72 | 15.31 | -5.05 | 16.37 | 187.90 |
| Benchmark | -2.33 | 0.52 | -0.82 | -6.98 | 38.09 | 65.63 | -1.25 | 30.33 | 7.30 | 5.36 | 13.84 | 221.47 |
| Excess Return | -0.45 | 2.59 | -1.91 | -4.04 | -6.54 | -20.28 | -6.53 | -6.61 | 8.01 | -10.41 | 2.52 | -33.57 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 21.52 | 14.06 | 23.12 | -9.30 | 9.32 | 4.15 | 13.05 | 17.54 | 22.08 | 4.61 |
| Benchmark | 27.54 | 6.65 | 28.93 | -4.85 | 8.89 | 11.09 | 8.76 | 19.50 | 21.20 | 14.05 |
| Excess Return | -6.02 | 7.40 | -5.81 | -4.45 | 0.43 | -6.94 | 4.29 | -1.96 | 0.87 | -9.44 |

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 |  |  |
| AstraZeneca PLC | 2.76 | 0.34 | 2.43 | Health Care | Europe |
| CSL Ltd | 2.71 | 0.17 | 2.54 | Health Care | Pacific ex-Japan |
| Centene Corp | 2.49 | 0.09 | 2.40 | Health Care | North America |
| AIA Group Ltd | 2.48 | 0.20 | 2.27 | Financials | Pacific ex-Japan |
| Hdfc Bank Limited | 2.48 | - | 2.48 | Financials | Emerging Markets |
| Intuit Inc | 2.47 | 0.20 | 2.27 | Information Technology | North America |
| Rentokil Initial PLC | 2.47 | 0.02 | 2.45 | Industrials | Europe |
| DexCom Inc | 2.40 | 0.06 | 2.34 | Health Care | North America |
| Gentex Corp | 2.24 | - | 2.24 | Consumer Discretionary | North America |
| Stryker Corp | 2.20 | 0.12 | 2.07 | Health Care | North America |
| Total (%) | 24.70 | 1.20 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| CSL Ltd | 2.71 | 0.17 | 2.54 |  | Apple Inc | 0.00 | 4.49 | -4.49 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Hdfc Bank Limited | 2.48 | 0.00 | 2.48 |  | Microsoft Corp | 0.00 | 3.26 | -3.26 |
| Rentokil Initial PLC | 2.47 | 0.02 | 2.45 |  | Alphabet Inc | 0.00 | 2.22 | -2.22 |
| AstraZeneca PLC | 2.76 | 0.34 | 2.43 |  | Amazon.com Inc | 0.00 | 2.03 | -2.03 |
| Centene Corp | 2.49 | 0.09 | 2.40 |  | Tesla Inc | 0.00 | 1.27 | -1.27 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-12	-9	-6	-3	0	3	6	9	12	15	18
Health Care	27.90	12.17
Consumer Discretionary	15.60	11.58
Information Technology	13.89	21.43
Financials	10.53	14.34
Industrials	10.04	9.58
Consumer Staples	7.86	7.51
Real Estate	5.22	2.75
Communication Services	2.99	7.56
Materials	2.16	4.64
Utilities	0.00	3.20
Energy	0.00	5.25
Cash	3.82	0.00

## Geographical Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Geography (%)
-21	-18	-15	-12	-9	-6	-3	0	3	6	9	12
North America	44.29	64.47
Europe	25.22	15.69
Emerging Markets	13.62	6.33
Pacific ex-Japan	9.09	8.05
Japan	3.95	5.46
Cash	3.82	0.00
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.	3.42	12.87	11.07	10.36	25.01	22.23	11.22	-	3.82
Bench.	-	0.30	1.36	5.42	14.62	32.94	19.45	25.92	-

Translation (ENFR, 2022-08-31):
# Performance et risque
## Evolution de la performance (EUR)
Valeur liquidative
Cap.

### 575.81
Actif net du fonds (M)
EUR

### 45.67

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

## Caractéristiques du portefeuille
Indice de réf.
Nombre de lignes	1	2898
Active Share (%)	98	-

## Profil du portefeuille
Notation ESG
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160
140
120
100
80
60
30/08/19
29/02/20
31/08/20
28/02/21
31/08/21
28/02/22 31/08/22
Notation ESG relative
Intensité relative en CO2
% de l’encours sous gestion couvert par la note ESG
Portefeuille* (31.55%)	Indice de réference (38.09%)
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* (%) | 21.16 | 16.01 | 15.56 | 17.65 |
| Volatilité de l'indice de référence (%) | 18.07 | 16.26 | 14.68 | 13.89 |
| Risque relatif/Tracking Error  (%) | 5.64 | 4.72 | 4.85 | 8.57 |
| Ratio de Sharpe | -0.26 | 0.75 | 0.65 | 0.33 |
| Ratio d'information | -0.84 | 0.08 | -0.15 | 0.17 |

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.
absolue : Portefeuille = 96.2% Indice de réf. = 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 = 96.2% Indice de réf.
= 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 | 31/08/21 31/08/22 | 31/08/20 31/08/21 | 31/08/19 31/08/20 | 31/08/18 31/08/19 | 31/08/17 31/08/18 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -2.78 | 3.12 | -2.73 | -11.03 | 31.55 | 45.34 | -7.79 | 23.72 | 15.31 | -5.05 | 16.37 | 187.90 |
| Indice de référence | -2.33 | 0.52 | -0.82 | -6.98 | 38.09 | 65.63 | -1.25 | 30.33 | 7.30 | 5.36 | 13.84 | 221.47 |
| Ecarts | -0.45 | 2.59 | -1.91 | -4.04 | -6.54 | -20.28 | -6.53 | -6.61 | 8.01 | -10.41 | 2.52 | -33.57 |

Performance calendaire annuelle (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 21.52 | 14.06 | 23.12 | -9.30 | 9.32 | 4.15 | 13.05 | 17.54 | 22.08 | 4.61 |
| Indice de réference | 27.54 | 6.65 | 28.93 | -4.85 | 8.89 | 11.09 | 8.76 | 19.50 | 21.20 | 14.05 |
| Ecarts | -6.02 | 7.40 | -5.81 | -4.45 | 0.43 | -6.94 | 4.29 | -1.96 | 0.87 | -9.44 |

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 |  |  |
| AstraZeneca PLC	2.76 | 0.34 | 2.43 | Santé | Europe |
| CSL Ltd	2.71 | 0.17 | 2.54 | Santé | Pacifique ex-Japon |
| Centene Corp	2.49 | 0.09 | 2.40 | Santé | Amérique du Nord |
| AIA Group Ltd	2.48 | 0.20 | 2.27 | Finance | Pacifique ex-Japon |
| Hdfc Bank Limited	2.48 | - | 2.48 | Finance | Pays Emergent |
| Intuit Inc	2.47 | 0.20 | 2.27 | Technologie | Amérique du Nord |
| Rentokil Initial PLC	2.47 | 0.02 | 2.45 | Industrie | Europe |
| DexCom Inc	2.40 | 0.06 | 2.34 | Santé | Amérique du Nord |
| Gentex Corp	2.24 | - | 2.24 | Biens de conso. Cycliques | Amérique du Nord |
| Stryker Corp	2.20 | 0.12 | 2.07 | Santé | Amérique du Nord |
| Total (%)	24.70 | 1.20 |  |  |  |


## 5 principales surpondérations (%)	5 principales sous-pondérations (%)
Port. Indice Relative de réf.
Port. Indice Relative de réf.
| CSL Ltd | 2.71 | 0.17 | 2.54 |  | Apple Inc | 0.00 | 4.49 | -4.49 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Hdfc Bank Limited | 2.48 | 0.00 | 2.48 |  | Microsoft Corp | 0.00 | 3.26 | -3.26 |
| Rentokil Initial PLC | 2.47 | 0.02 | 2.45 |  | Alphabet Inc | 0.00 | 2.22 | -2.22 |
| AstraZeneca PLC | 2.76 | 0.34 | 2.43 |  | Amazon.com Inc | 0.00 | 2.03 | -2.03 |
| Centene Corp | 2.49 | 0.09 | 2.40 |  | Tesla Inc | 0.00 | 1.27 | -1.27 |


## Exposition sectorielle (%)
Portefeuille	Indice de réference

## Exposition sectorielle active (%)
-12	-9	-6	-3	0	3	6	9	12	15	18
Santé	27.90	12.17
Biens de conso. Cycliques	15.60	11.58
Technologie	13.89	21.43
Finance	10.53	14.34
Industrie	10.04	9.58
Biens de conso. de base	7.86	7.51
Immobilier	5.22	2.75
Services de Communication	2.99	7.56
Matériaux	2.16	4.64
Services aux collectivités	0.00	3.20
Energie	0.00	5.25
Monétaire	3.82	0.00

## Exposition géographique (%)
Portefeuille	Indice de réference
Amérique du Nord	44.29	64.47
Europe	25.22	15.69
Pays Emergent	13.62	6.33
Pacifique ex-Japon	9.09	8.05
Japon	3.95	5.46
Monétaire	3.82	0.00

## Exposition régionale active (%)
-21	-18	-15	-12	-9	-6	-3	0	3	6	9	12

## 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.	3.42	12.87	11.07	10.36	25.01	22.23	11.22	-	3.82
Indice de réf.	-	0.30	1.36	5.42	14.62	32.94	19.45	25.92	-