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

### 269.03
Number of Holdings	19
Number of Issuers	5

## Fund Profile
ESG Rating
% of AUM covered by ESG absolute rating: Portfolio = 99.1% (not meaningful for coverage below 50%)
30/07/2018
Portfolio* (-0.29%)
30/06/2019
30/06/2020
30/06/2021
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* (%) | 2.36 | - | - | 3.70 |
| Sharpe Ratio | 3.05 | - | - | 0.21 |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 30/06/2020 30/06/2021 | 30/06/2019 30/06/2020 | 30/06/2018 30/06/2019 | 30/06/2017 30/06/2018 | 30/06/2016 30/06/2017 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -0.14 | 0.64 | 3.52 | 3.52 | 6.30 | -3.11 | - | - | - | -0.29 |

Annual Calendar Performance (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -1.00 | -0.08 | - | - | - | - | - | - | - | - |

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 |
| UK Gilt Inflation Linked 0.125% 08/10/2031 | 21.85 | United Kingdom | 10.2 | 2.23 |
| US Treasury Inflation Idx Bonds 3.375% 04/15/2032 | 11.63 | United States | 9.5 | 1.10 |
| German Inflation Linked Bond 0.5% 04/15/2030 | 9.09 | Germany | 8.8 | 0.80 |
| US Treasury Inflation Idx Bonds 3.875% 04/15/2029 | 7.86 | United States | 7.0 | 0.55 |
| UK Gilt Inflation Linked 0.125% 03/22/2029 | 6.50 | United Kingdom | 7.8 | 0.51 |
| Italy (Republic of) 1.25% 09/15/2032 | 6.11 | Italy | 10.6 | 0.64 |
| US Treasury Inflation Idx Bonds 0.125% 01/15/2031 | 5.59 | United States | 9.5 | 0.53 |
| Italy (Republic of) 0.4% 05/15/2030 | 5.12 | Italy | 8.8 | 0.45 |
| France Government Bond OAT 3.15% 07/25/2032 | 4.65 | France | 9.8 | 0.46 |
| US Treasury Inflation Idx Bonds 0.125% 07/15/2030 | 4.50 | United States | 9.0 | 0.41 |
| Total (%) | 82.88 |  |  |  |


## Sector Breakdown (%)	Contribution to duration by sector
Portfolio
Sovereign	99.07	5
4
Cash	0.93	3
2
1
0
-1
-2
-3
Sovereign	Cash
Port.	4.3	-2.4
| Geographical Breakdown (%) |  |
| --- | --- |
|  | Portfolio |
| United Kingdom | 32.65 |
| United States | 32.62 |
| Italy | 11.66 |
| France | 11.33 |
| Germany | 10.81 |
| Cash | 0.93 |


## Contribution to Duration by Geography
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0.0
|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  |  |
|  |  |  |
|  |  |  |
|  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |

United Kingdom
United States
Italy	France	Germany
Port.	0.6	0.6	0.2	0.2	0.2

## Maturity Breakdown (%)
60
|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  |  |
|  |  |  |
|  |  |  |
|  |  |  |

50
40
30
20
10
0	Cash	5-7 years	7-10 years	10-20 years
Portfolio	0.93	0.28	48.00	50.79

## Rating Breakdown (%)
50
40
30
20
10
0	AAA	AA	BBB	Cash
Portfolio	43.43	43.98	11.66	0.93

## Currency Breakdown (%)
40
30
20
10
0	EUR	GBP	USD
Portfolio	34.12	32.96	32.92

Translation (ENFR, 2021-06-30):
# Performance et risque
## Evolution de la performance (EUR)
Valeur liquidative
Cap.

### 99.71
Actif net du fonds (M)
EUR

### 269.03

## Indice de réference
Le fonds n’a pas d’indice de référence.

## Caractéristiques du portefeuille
|  | Port. |
| --- | --- |
| Rating moyen linéaire | AA |
| Mod. Duration | 1.90 |
| Mod. Duration To Worst | 1.90 |
| Yield to worst (%) | -2.18 |
| Nombre de lignes | 19 |
| Nombre d'émetteurs | 5 |
| Profil du portefeuille |  |
| Notation ESG |  |

% de l’encours sous gestion couvert par la note ESG absolue : Portefeuille = 99.1% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)
30/07/2018
Portefeuille* (-0.29%)
30/06/2019
30/06/2020
30/06/2021
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* (%) | 2.36 | - | - | 3.70 |
| Ratio de Sharpe | 3.05 | - | - | 0.21 |


## Performance glissante (%)
|  | 1 mois | 3 mois | 6 mois | YTD | 30/06/2020 30/06/2021 | 30/06/2019 30/06/2020 | 30/06/2018 30/06/2019 | 30/06/2017 30/06/2018 | 30/06/2016 30/06/2017 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -0.14 | 0.64 | 3.52 | 3.52 | 6.30 | -3.11 | - | - | - | -0.29 |

Performance calendaire annuelle (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -1.00 | -0.08 | - | - | - | - | - | - | - | - |

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 |
| UK Gilt Inflation Linked 0.125% 08/10/2031 | 21.85 | Royaume-Uni | 10.2 | 2.23 |
| US Treasury Inflation Idx Bonds 3.375% 04/15/2032 | 11.63 | Etats-Unis | 9.5 | 1.10 |
| German Inflation Linked Bond 0.5% 04/15/2030 | 9.09 | Allemagne | 8.8 | 0.80 |
| US Treasury Inflation Idx Bonds 3.875% 04/15/2029 | 7.86 | Etats-Unis | 7.0 | 0.55 |
| UK Gilt Inflation Linked 0.125% 03/22/2029 | 6.50 | Royaume-Uni | 7.8 | 0.51 |
| Italy (Republic of) 1.25% 09/15/2032 | 6.11 | Italie | 10.6 | 0.64 |
| US Treasury Inflation Idx Bonds 0.125% 01/15/2031 | 5.59 | Etats-Unis | 9.5 | 0.53 |
| Italy (Republic of) 0.4% 05/15/2030 | 5.12 | Italie | 8.8 | 0.45 |
| France Government Bond OAT 3.15% 07/25/2032 | 4.65 | France | 9.8 | 0.46 |
| US Treasury Inflation Idx Bonds 0.125% 07/15/2030 | 4.50 | Etats-Unis | 9.0 | 0.41 |
| Total (%) | 82.88 |  |  |  |


## Exposition sectorielle (%)	Contribution à la duration par secteur
Portefeuille
Souverain	99.07	5
4
Cash	0.93	3
2
1
0
-1
-2
-3
Souverain	Cash
Port.	4.3	-2.4

## Exposition géographique (%)	Contribution à la duration par géographie
Portefeuille
Royaume-Uni	32.65
Etats-Unis	32.62
Italie	11.66
France	11.33
Allemagne	10.81
Cash	0.93
0.7
|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  |  |
|  |  |  |
|  |  |  |
|  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |

0.6
0.5
0.4
0.3
0.2
0.1
Royaume-Uni
Etats-Unis
Italie
France
Allemagne
0.0
Port.	0.6	0.6	0.2	0.2	0.2

## Exposition par Maturité (%)
60
|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  |  |
|  |  |  |
|  |  |  |
|  |  |  |

50
40
30
20
10
| 0 | Cash | 5-7 ans | 7-10 ans | 10-20 ans |
| --- | --- | --- | --- | --- |
| Portefeuille | 0.93 | 0.28 | 48.00 | 50.79 |


## Exposition par Rating (%)
50
40
30
20
10
0	AAA	AA	BBB	Cash
Portefeuille	43.43	43.98	11.66	0.93

## Exposition Par Devise (%)
40
30
20
10
0	EUR	GBP	USD
Portefeuille	34.12	32.96	32.92