# Performance & Risk
## Performance Evolution (EUR)
Assets Under Management (M)
| Fund Key Metrics |  |
| --- | --- |
|  | Port. | Bench. |
| Number of Holdings | 215 | 1411 |
| Active Share (%) | 56 | - |
| Fund Profile |  |  |
| ESG Rating |  |  |
| ESG Relative Rating |  |  |

USD
45.34
16/08/21
30/11/21
28/02/22
30/05/22
30/08/22
30/11/22
% of AUM covered by ESG absolute rating: Portfolio = 97.9% Benchmark = 100.0% (not meaningful for coverage below 50%)
Portfolio* (-12.10%)	Benchmark (-12.82%)
Data is rebased to 100 by AXA IM on the graph start date.
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* (%) | 20.06 | - | - | 16.78 |
| Benchmark Volatility (%) | 23.78 | - | - | 18.35 |
| Relative Risk/Tracking Error  (%) | 5.72 | - | - | 4.57 |
| Sharpe Ratio | -0.58 | - | - | -0.53 |
| Information Ratio | 0.54 | - | - | 0.20 |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y	5Y | 30/11/21 30/11/22 | 30/11/20 30/11/21 | 30/11/19 30/11/20 | 30/11/18 30/11/19 | 30/11/17 30/11/18 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 4.88 | 1.33 | -4.22 | -16.18 | -	- | -12.17 | - | - | - | - | -12.10 |
| Benchmark | 5.09 | 1.24 | -2.85 | -17.63 | -	- | -14.95 | - | - | - | - | -12.82 |
| Excess Return | -0.21 | 0.09 | -1.37 | 1.44 | -	- | 2.78 | - | - | - | - | 0.72 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | - | - | - | - | - | - | - | - | - | - |
| Benchmark | - | - | - | - | - | - | - | - | - | - |
| Excess Return | - | - | - | - | - | - | - | - | - | - |

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 | 4.54 | 5.31 | -0.78 | Information Technology | United States |
| Microsoft Corp | 3.83 | 4.97 | -1.14 | Information Technology | United States |
| Tesla Inc | 2.87 | 3.31 | -0.44 | Consumer Discretionary | United States |
| Vestas Wind Systems | 2.03 | 0.18 | 1.85 | Industrials | Denmark |
| Schneider Electric SE | 1.90 | 0.44 | 1.46 | Industrials | France |
| Legrand SA | 1.86 | 0.05 | 1.81 | Industrials | France |
| EDP Renovaveis SA | 1.72 | 0.05 | 1.67 | Utilities | Spain |
| Ecolab Inc | 1.59 | 0.08 | 1.50 | Materials | United States |
| Alphabet Inc | 1.51 | 2.17 | -0.66 | Communication Services | United States |
| Johnson & Johnson | 1.41 | 1.05 | 0.36 | Health Care | United States |
| Total (%) | 23.25 | 17.61 |  |  |  |

Companies shown are for illustrative purposes only at the date of this report and may no longer be in the portfolio later. It should not be considered a recommendation to purchase or sell any security.

## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Vestas Wind Systems | 2.03 | 0.18 | 1.85 |  | NVIDIA Corp | 0.00 | 2.21 | -2.21 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Legrand SA | 1.86 | 0.05 | 1.81 |  | Amazon.com Inc | 0.75 | 2.04 | -1.30 |
| EDP Renovaveis SA | 1.72 | 0.05 | 1.67 |  | Microsoft Corp | 3.83 | 4.97 | -1.14 |
| Ecolab Inc | 1.59 | 0.08 | 1.50 |  | Apple Inc | 4.54 | 5.31 | -0.78 |
| Schneider Electric SE | 1.90 | 0.44 | 1.46 |  | Alphabet Inc | 1.51 | 2.17 | -0.66 |
| Sector Breakdown (%) |  |  |  |  | Active Exposure by Sector (%) |  |  |  |

Portfolio	Benchmark
Information Technology	20.07	27.06
Industrials	15.85	10.27
Financials	15.61	13.14
Health Care	12.42	15.51
Consumer Staples	12.33	6.65
Utilities	6.02	2.14
Consumer Discretionary	6.01	12.47
Communication Services	4.34	6.05
Materials	3.70	2.71
Real Estate	1.56	3.22
Energy	0.00	0.77
Cash	2.10	0.00
-8	-6	-4	-2	0	2	4	6

## Geographical Breakdown (%)
Portfolio	Benchmark
United States	69.25	71.06
Canada	5.38	2.43
Japan	4.73	5.81
France	3.98	3.54
Denmark	3.80	1.10
Spain	2.48	0.72
Switzerland	1.76	2.92
Italy	1.43	0.50
Singapore	1.04	0.39
Germany	0.79	1.98
United Kingdom	0.76	3.20
Belgium	0.47	0.25
Other	2.03	6.09
Cash	2.10	0.00

## Active Exposure by Geography (%)
-5	-4	-3	-2	-1	0	1	2	3

## MarketCap Breakdown (%)
40
30
20
10
0	1bn To 3bn	3bn To 5bn	5bn To 10bn	10bn To 25bn	25bn To 100bn	100bn To 250bn	More Than 250bn	Cash
Port.	-	0.80	4.90	12.70	37.01	16.13	26.36	2.10
Bench.	0.01	0.69	3.93	12.89	29.61	19.62	33.24	-

Translation (ENFR, 2022-11-30):
# Performance et risque
## Evolution de la performance (EUR)
Valeur liquidative
Cap.
87.9
Actif net du fonds (M)
USD
45.34

## Indice de réference
Depuis le: 16/08/2021
100% MSCI World Climate Change Net Hedged EUR
Le fonds est géré de manière active, sans référence à un indice de référence.
Port.

## Caractéristiques du portefeuille
Indice de réf.
Nombre de lignes	215	1411
Active Share (%)	56	-

## Profil du portefeuille
Notation ESG
Notation ESG relative
16/08/21
30/11/21
28/02/22
30/05/22
30/08/22
30/11/22
% de l’encours sous gestion couvert par la note ESG absolue : Portefeuille = 97.9% Indice de réf. = 100.0%
Portefeuille* (-12.10%)	Indice de réference (-12.82%)
(n'est pas significatif lorsque le taux de couverture est inférieur à 50%)
Les données sont rebasées à 100 par AXA IM à la date de début du graphique.
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* (%) | 20.06 | - | - | 16.78 |
| Volatilité de l'indice de référence (%) | 23.78 | - | - | 18.35 |
| Risque relatif/Tracking Error  (%) | 5.72 | - | - | 4.57 |
| Ratio de Sharpe | -0.58 | - | - | -0.53 |
| Ratio d'information | 0.54 | - | - | 0.20 |

Performance et risque 
(suite)

## Performance glissante (%)
|  | 1 mois | 3 mois | 6 mois | YTD | 3 ans  5 ans | 30/11/21 30/11/22 | 30/11/20 30/11/21 | 30/11/19 30/11/20 | 30/11/18 30/11/19 | 30/11/17 30/11/18 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 4.88 | 1.33 | -4.22 | -16.18 | -	- | -12.17 | - | - | - | - | -12.10 |
| Indice de référence | 5.09 | 1.24 | -2.85 | -17.63 | -	- | -14.95 | - | - | - | - | -12.82 |
| Ecarts | -0.21 | 0.09 | -1.37 | 1.44 | -	- | 2.78 | - | - | - | - | 0.72 |

Performance calendaire annuelle (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | - | - | - | - | - | - | - | - | - | - |
| Indice de réference | - | - | - | - | - | - | - | - | - | - |
| Ecarts | - | - | - | - | - | - | - | - | - | - |

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	4.54 | 5.31 | -0.78 | Technologie | Etats-Unis |
| Microsoft Corp	3.83 | 4.97 | -1.14 | Technologie | Etats-Unis |
| Tesla Inc	2.87 | 3.31 | -0.44 | Biens de conso. Cycliques | Etats-Unis |
| Vestas Wind Systems	2.03 | 0.18 | 1.85 | Industrie | Danemark |
| Schneider Electric SE	1.90 | 0.44 | 1.46 | Industrie | France |
| Legrand SA	1.86 | 0.05 | 1.81 | Industrie | France |
| EDP Renovaveis SA	1.72 | 0.05 | 1.67 | Services aux collectivités | Espagne |
| Ecolab Inc	1.59 | 0.08 | 1.50 | Matériaux | Etats-Unis |
| Alphabet Inc	1.51 | 2.17 | -0.66 | Services de Communication | Etats-Unis |
| Johnson & Johnson	1.41 | 1.05 | 0.36 | Santé | Etats-Unis |
| Total (%)	23.25 | 17.61 |  |  |  |

Les informations sur cette société sont données à titre illustratif uniquement, sont valables à la date du reporting et ne constituent pas une recommandation à l’achat ou à la vente. Il est possible que cette entreprise ne soit plus présente en portefeuille à une date ultérieure.
Analyse du portefeuille 
(suite)

## 5 principales surpondérations (%)

## 5 principales sous-pondérations (%)
Port. Indice Relative de réf.
Port. Indice Relative de réf.
| Vestas Wind Systems | 2.03 | 0.18 | 1.85 |  | NVIDIA Corp | 0.00 | 2.21 | -2.21 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Legrand SA | 1.86 | 0.05 | 1.81 |  | Amazon.com Inc | 0.75 | 2.04 | -1.30 |
| EDP Renovaveis SA | 1.72 | 0.05 | 1.67 |  | Microsoft Corp | 3.83 | 4.97 | -1.14 |
| Ecolab Inc | 1.59 | 0.08 | 1.50 |  | Apple Inc | 4.54 | 5.31 | -0.78 |
| Schneider Electric SE | 1.90 | 0.44 | 1.46 |  | Alphabet Inc | 1.51 | 2.17 | -0.66 |
| Exposition sectorielle (%) |  |  |  |  | Exposition sectorielle active (%) |  |  |  |

Portefeuille	Indice de réference
Technologie	20.07	27.06
Industrie	15.85	10.27
Finance	15.61	13.14
Santé	12.42	15.51
Biens de conso. de base	12.33	6.65
Services aux collectivités	6.02	2.14
Biens de conso. Cycliques	6.01	12.47
Services de Communication	4.34	6.05
Matériaux	3.70	2.71
Immobilier	1.56	3.22
Energie	0.00	0.77
Monétaire	2.10	0.00
-8	-6	-4	-2	0	2	4	6

## Exposition géographique (%)
Portefeuille	Indice de réference
Etats-Unis	69.25	71.06
Canada	5.38	2.43
Japon	4.73	5.81
France	3.98	3.54
Danemark	3.80	1.10
Espagne	2.48	0.72
Suisse	1.76	2.92
Italie	1.43	0.50
Singapour	1.04	0.39
Allemagne	0.79	1.98
Royaume-Uni	0.76	3.20
Belgique	0.47	0.25
Autres	2.03	6.09
Monétaire	2.10	0.00

## Exposition régionale active (%)
-5	-4	-3	-2	-1	0	1	2	3
Analyse du portefeuille 
(suite)

## Ventilation par capitalisation boursière (%)
40
30
20
10
0	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.	-	0.80	4.90	12.70	37.01	16.13	26.36	2.10
Indice de réf.	0.01	0.69	3.93	12.89	29.61	19.62	33.24	-