# Performance & Risk
## Performance Evolution (EUR)
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## Fund Profile
ESG Rating
ESG Relative Rating
CO2 Relative rating
31/12/18	30/06/19	31/12/19	30/06/20	31/12/20	30/06/21 31/12/21
Portfolio* (84.13%)	Benchmark (98.27%)
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 = 98.2% Benchmark = 100.0% (not meaningful for coverage below 50%)
% of AUM covered by CO2 intensity indicator: Portfolio
= 99.4% Benchmark = 99.8% (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* (%) | 12.55 | 17.26 | 15.77 | 14.26 |  |
| Benchmark Volatility (%) | 12.36 | 16.02 | 14.67 | 14.43 |  |
| Relative Risk/Tracking Error  (%) | 2.43 | 3.18 | 2.80 | 3.78 |  |
| Sharpe Ratio | 3.16 | 1.41 | 0.94 | 0.47 |  |
| Information Ratio | 0.81 | -0.41 | -0.48 | 0.01 |  |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 31/12/20 31/12/21 | 31/12/19 31/12/20 | 31/12/18 31/12/19 | 31/12/17 31/12/18 | 31/12/16 31/12/17 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 3.22 | 12.72 | 14.55 | 37.87 | 84.13 | 85.16 | 37.87 | 2.46 | 30.35 | -4.74 | 5.56 | 261.27 |
| Benchmark | 3.38 | 13.03 | 16.22 | 37.89 | 98.27 | 110.59 | 37.89 | 8.03 | 33.10 | -0.15 | 6.37 | 374.17 |
| Excess Return | -0.16 | -0.31 | -1.67 | -0.02 | -14.14 | -25.43 | -0.02 | -5.57 | -2.75 | -4.59 | -0.81 | -112.90 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 37.87 | 2.46 | 30.35 | -4.74 | 5.56 | 12.72 | 7.62 | 27.96 | 27.36 | 12.07 |
| Benchmark | 37.89 | 8.03 | 33.10 | -0.15 | 6.37 | 14.55 | 12.22 | 28.67 | 25.86 | 13.45 |
| Excess Return | -0.02 | -5.57 | -2.75 | -4.59 | -0.81 | -1.83 | -4.60 | -0.72 | 1.50 | -1.38 |

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 | 6.56 | 6.86 | -0.30 | Information Technology | United States |
| Microsoft Corp | 6.29 | 6.26 | 0.03 | Information Technology | United States |
| Alphabet Inc | 3.79 | 4.16 | -0.37 | Communication Services | United States |
| Amazon.com Inc | 3.22 | 3.60 | -0.38 | Consumer Discretionary | United States |
| Tesla Inc | 2.10 | 2.13 | -0.03 | Consumer Discretionary | United States |
| Lowe's Cos Inc | 1.73 | 0.44 | 1.28 | Consumer Discretionary | United States |
| AT&T Inc | 1.59 | 0.44 | 1.15 | Communication Services | United States |
| S&P Global Inc | 1.56 | 0.28 | 1.28 | Financials | United States |
| Meta Platforms Inc | 1.52 | 1.97 | -0.45 | Communication Services | United States |
| Colgate-Palmolive Co | 1.51 | 0.18 | 1.34 | Consumer Staples | United States |
| Total (%) | 29.87 | 26.32 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Western Digital Corp | 1.45 | 0.05 | 1.40 |  | Procter & Gamble Co | 0.00 | 0.98 | -0.98 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Principal Financial Group Inc | 1.43 | 0.04 | 1.38 |  | Walt Disney Co | 0.00 | 0.70 | -0.70 |
| Pool Corp | 1.44 | 0.06 | 1.38 |  | UnitedHealth Group Inc | 0.48 | 1.17 | -0.69 |
| Kroger Co | 1.46 | 0.08 | 1.38 |  | Broadcom Inc | 0.00 | 0.68 | -0.68 |
| Colgate-Palmolive Co | 1.51 | 0.18 | 1.34 |  | Cisco Systems Inc/Delaware | 0.00 | 0.66 | -0.66 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-3	-2	-1	0	1	2	3	4	5	6
Information Technology	34.28	29.17
Health Care	14.82	13.29
Financials	12.85	10.69
Consumer Discretionary	12.63	12.54
Communication Services	8.93	10.16
Consumer Staples	5.99	5.88
Industrials	5.17	7.78
Materials	2.76	2.56
Energy	1.49	2.67
Real Estate	0.42	2.77
Utilities	0.29	2.50
Cash	0.37	0.00
MarketCap Breakdown (USD - %)
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0	3bn To
5bn
5bn To 10bn
10bn To 25bn
25bn To 100bn
100bn To 250bn
More Than 250bn
Cash
Port.	0.35	5.21	19.65	23.29	15.69	35.44	0.37
Bench.	-	0.56	7.20	26.13	24.82	41.29	-

Translation (ENFR, 2021-12-31):
# Performance et risque
## Evolution de la performance (EUR)
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Valeur liquidative
Cap.

### 33.31
Actif net du fonds (M)
USD

### 1 167.80
Depuis le: 10/05/2001
100% S&P 500 Total Return Net
Port.

## Caractéristiques du portefeuille
Indice de réf.
Nombre de lignes	125	505
Turnover: Glissant 1an (%)	116	-
Active Share (%)	54	-

## Profil du portefeuille
Notation ESG
Notation ESG relative
Intensité relative en CO2
31/12/18
30/06/19
31/12/19
30/06/20
31/12/20
30/06/21 31/12/21
Portefeuille* (84.13%)	Indice de réference (98.27%)
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* (%) | 12.55 | 17.26 | 15.77 | 14.26 |
| Volatilité de l'indice de référence (%) | 12.36 | 16.02 | 14.67 | 14.43 |
| Risque relatif/Tracking Error  (%) | 2.43 | 3.18 | 2.80 | 3.78 |
| Ratio de Sharpe | 3.16 | 1.41 | 0.94 | 0.47 |
| Ratio d'information | 0.81 | -0.41 | -0.48 | 0.01 |

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 = 98.2% Indice de référence = 100.0% (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 = 99.4% Indice de référence = 99.8% (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 | 31/12/20 31/12/21 | 31/12/19 31/12/20 | 31/12/18 31/12/19 | 31/12/17 31/12/18 | 31/12/16 31/12/17 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 3.22 | 12.72 | 14.55 | 37.87 | 84.13 | 85.16 | 37.87 | 2.46 | 30.35 | -4.74 | 5.56 | 261.27 |
| Indice de réference | 3.38 | 13.03 | 16.22 | 37.89 | 98.27 | 110.59 | 37.89 | 8.03 | 33.10 | -0.15 | 6.37 | 374.17 |
| Ecarts | -0.16 | -0.31 | -1.67 | -0.02 | -14.14 | -25.43 | -0.02 | -5.57 | -2.75 | -4.59 | -0.81 | -112.90 |

Performance calendaire annuelle (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 37.87 | 2.46 | 30.35 | -4.74 | 5.56 | 12.72 | 7.62 | 27.96 | 27.36 | 12.07 |
| Indice de réference | 37.89 | 8.03 | 33.10 | -0.15 | 6.37 | 14.55 | 12.22 | 28.67 | 25.86 | 13.45 |
| Ecarts | -0.02 | -5.57 | -2.75 | -4.59 | -0.81 | -1.83 | -4.60 | -0.72 | 1.50 | -1.38 |

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	6.56 | 6.86 | -0.30 | Technologie | Etats-Unis |
| Microsoft Corp	6.29 | 6.26 | 0.03 | Technologie | Etats-Unis |
| Alphabet Inc	3.79 | 4.16 | -0.37 | Services de Communication | Etats-Unis |
| Amazon.com Inc	3.22 | 3.60 | -0.38 | Biens de conso. Cycliques | Etats-Unis |
| Tesla Inc	2.10 | 2.13 | -0.03 | Biens de conso. Cycliques | Etats-Unis |
| Lowe's Cos Inc	1.73 | 0.44 | 1.28 | Biens de conso. Cycliques | Etats-Unis |
| AT&T Inc	1.59 | 0.44 | 1.15 | Services de Communication | Etats-Unis |
| S&P Global Inc	1.56 | 0.28 | 1.28 | Finance | Etats-Unis |
| Meta Platforms Inc	1.52 | 1.97 | -0.45 | Services de Communication | Etats-Unis |
| Colgate-Palmolive Co	1.51 | 0.18 | 1.34 | Biens de conso. de base | Etats-Unis |
| Total (%)	29.87 | 26.32 |  |  |  |


## 5 principales surpondérations (%)	5 principales sous-pondérations (%)
Port. Indice Relative de réf.
Port. Indice Relative de réf.
| Western Digital Corp | 1.45 | 0.05 | 1.40 |  | Procter & Gamble Co | 0.00 | 0.98 | -0.98 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Principal Financial Group Inc | 1.43 | 0.04 | 1.38 |  | Walt Disney Co | 0.00 | 0.70 | -0.70 |
| Pool Corp | 1.44 | 0.06 | 1.38 |  | UnitedHealth Group Inc | 0.48 | 1.17 | -0.69 |
| Kroger Co | 1.46 | 0.08 | 1.38 |  | Broadcom Inc | 0.00 | 0.68 | -0.68 |
| Colgate-Palmolive Co | 1.51 | 0.18 | 1.34 |  | Cisco Systems Inc/Delaware | 0.00 | 0.66 | -0.66 |


## Exposition sectorielle (%)
Portefeuille	Indice de réference

## Exposition sectorielle active (%)
-3	-2	-1	0	1	2	3	4	5	6
Technologie	34.28	29.17
Santé	14.82	13.29
Finance	12.85	10.69
Biens de conso. Cycliques	12.63	12.54
Services de Communication	8.93	10.16
Biens de conso. de base	5.99	5.88
Industrie	5.17	7.78
Matériaux	2.76	2.56
Energie	1.49	2.67
Immobilier	0.42	2.77
Services aux collectivités	0.29	2.50
Monétaire	0.37	0.00

## Ventilation par capitalisation boursière (USD - %)
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Port.	0.35	5.21	19.65	23.29	15.69	35.44	0.37
Indice de réf.	-	0.56	7.20	26.13	24.82	41.29	-