# AXA WF Global Short Duration Bonds I EUR
## Benchmark
Since: 01/01/2022
100% €STR Capitalized + 110bps

## Fund Key Metrics
DRAFT
Port.	Bench.
Linear Average Rating	BBB+	-
Mod. Duration	2.46	0.00
Mod. Duration To Worst	2.40	0.00
Yield To Worst (%)	2.07	0.00
Number of Holdings	193	-
Number of Issuers	154	-

## Fund Profile
ESG Rating
% of AUM covered by ESG absolute rating: Portfolio = 93.4% (not meaningful for coverage below 50%)
DRAFT
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* | -0.90 | -1.15 | -1.82 | -1.33 | 4.15 | - | -1.03 | 2.53 | 2.64 | -0.91 | - | 2.66 |
| Benchmark | 0.04 | 0.14 | 0.29 | 0.09 | 1.98 | - | 0.62 | 0.64 | 0.71 | 0.75 | - | 3.25 |
| Excess Return | -0.94 | -1.28 | -2.11 | -1.41 | 2.17 | - | -1.65 | 1.89 | 1.93 | -1.66 | - | -0.59 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 0.28 | 2.74 | 3.25 | -2.22 | - | - | - | - | - | - |
| Benchmark | 0.63 | 0.65 | 0.72 | 0.75 | - | - | - | - | - | - |
| Excess Return | -0.35 | 2.09 | 2.53 | -2.97 | - | - | - | - | - | - |
| 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 |
| US Treasury Note 0.875% 06/30/2026 | 5.43 | United States | 4.2 | 0.23 |
| France Government Bond OAT 0.25% 07/25/2024 | 4.88 | France | 2.5 | 0.12 |
| German Inflation Linked Bond 0.1% 04/15/2023 | 4.87 | Germany | 1.2 | 0.06 |
| US Treasury Inflation Idx Bonds 0.125% 01/15/2023 | 3.36 | United States | 0.9 | 0.03 |
| KFW 1.25% 12/29/2023 | 1.40 | Germany | 1.8 | 0.03 |
| Barclays PLC VAR 01/28/2028 | 1.03 | United Kingdom | 4.7 | 0.05 |
| Rothesay Life PLC VAR 09/17/2029 | 0.88 | United Kingdom | 2.3 | 0.02 |
| National Australia Bank Ltd VAR 09/15/2031 | 0.88 | Australia | 4.3 | 0.04 |
| Credit Agricole SA VAR 01/12/2028 | 0.85 | France | 4.7 | 0.04 |
| Anglian Water Osprey Financing 5% 04/30/2023 | 0.82 | United Kingdom | 1.1 | 0.01 |
| Total (%) | 24.39 |  |  |  |
|  |  |  |  |  |

Sector Breakdown (%)	Contribution to duration by sector
|  | Portfolio | Benchmark |  |  |
| --- | --- | --- | --- | --- |
| Financial | 34.37 | 0.00 | 1.0 |
| Industrials | 32.26 | 0.00 | 0.8 |  |  |  |
| Sovereign | 19.54 | 0.00 | 0.6 |  |  |  |

| Utility | 3.91 | 0.00 |
| --- | --- | --- |
| Securitized | 3.70 | 0.00 |
| Quasi & Foreign Gvt | 2.05 | 0.00 |

Other	0.46	0.00
Cash	3.71	100.00
0.4
0.2
Financial
Industrials
Sovereign
Utility
Securitized
0.0
Port.	0.9	0.9	0.4	0.1	0.1

## Securities Exposure by geographical area (%)
|  | Portfolio | Benchmark |
| --- | --- | --- |
| United Kingdom | 24.29 | 0.00 |
| United States | 21.73 | 0.00 |
| France | 9.62 | 0.00 |
| Germany | 9.44 | 0.00 |
| Italy | 5.93 | 0.00 |
| Spain | 4.63 | 0.00 |


## Contribution to Duration by Geography
0.7
|  |  |  |
| --- | --- | --- |
|  |  |  |  |
|  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |

0.6
0.5
0.4
0.3
DRAFT
0.2
0.1
United
Kingdom
United
States
France
Germany
Italy
Spain
Brazil
Other
0.0
| Brazil | 1.85 | 0.00 |  |
| --- | --- | --- | --- |
| China | 1.59 | 0.00 |
| Australia | 1.43 | 0.00 |  | Port. | 0.6 | 0.5 | 0.3 | 0.2 | 0.2 | 0.1 | 0.1 | 0.4 |
| Ireland | 1.40 | 0.00 |  |  |  |  |  |  |  |  |  |  |
| Other | 14.38 | 0.00 |  |  |  |  |  |  |  |  |  |  |
| Cash | 3.71 | 100.00 |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| Maturity Breakdown (%) |  |  |  |  |  |  |  |  |  |  |  |  |

50
40
30
20
10
| 0 | 0-1 year | 1-3 years | 3-5 years | 5-7 years |
| --- | --- | --- | --- | --- |
| Portfolio | 11.06 | 45.39 | 42.71 | 0.84 |


## Rating Breakdown (%)
120
100
80
60
40
20
0
AAA	AA	A	BBB	BB	B	CCC	NR	Cash
Portfolio	15.52	6.78	8.82	40.68	15.50	8.73	0.26	0.01	3.71
Benchmark	-	-	-	-	-	-	-	-	100.00

## Currency Breakdown (%)
50
40
30
20
DRAFT
10
0	EUR	USD	GBP
Portfolio	38.17	32.09	29.74

Translation (ENFR, 2022-02-28):
# AXA WF Global Short Duration Bonds I EUR
## Indice de réference
Depuis le: 01/01/2022
100% €STR Capitalized + 110bps

## Caractéristiques du portefeuille
|  | Port. |
| --- | --- |
| Rating moyen linéaire | BBB+ |
| Mod. Duration | 2.46 |
| Mod. Duration To Worst | 2.40 |
| Yield to worst (%) | 2.07 |
| Nombre de lignes | 193 |
| Nombre d'émetteurs | 154 |
| Profil du portefeuille |  |
| Notation ESG |  |

% de l’encours sous gestion couvert par la note ESG absolue : Portefeuille = 93.4% (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 | 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 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -0.90 | -1.15 | -1.82 | -1.33 | 4.15 | - | -1.03 | 2.53 | 2.64 | -0.91 | - | 2.66 |
| Indice de réference | 0.04 | 0.14 | 0.29 | 0.09 | 1.98 | - | 0.62 | 0.64 | 0.71 | 0.75 | - | 3.25 |
| Ecarts | -0.94 | -1.28 | -2.11 | -1.41 | 2.17 | - | -1.65 | 1.89 | 1.93 | -1.66 | - | -0.59 |

Performance calendaire annuelle (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 0.28 | 2.74 | 3.25 | -2.22 | - | - | - | - | - | - |
| Indice de réference | 0.63 | 0.65 | 0.72 | 0.75 | - | - | - | - | - | - |
| Ecarts | -0.35 | 2.09 | 2.53 | -2.97 | - | - | - | - | - | - |

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 |
| US Treasury Note 0.875% 06/30/2026 | 5.43 | Etats-Unis | 4.2 | 0.23 |
| France Government Bond OAT 0.25% 07/25/2024 | 4.88 | France | 2.5 | 0.12 |
| German Inflation Linked Bond 0.1% 04/15/2023 | 4.87 | Allemagne | 1.2 | 0.06 |
| US Treasury Inflation Idx Bonds 0.125% 01/15/2023 | 3.36 | Etats-Unis | 0.9 | 0.03 |
| KFW 1.25% 12/29/2023 | 1.40 | Allemagne | 1.8 | 0.03 |
| Barclays PLC VAR 01/28/2028 | 1.03 | Royaume-Uni | 4.7 | 0.05 |
| Rothesay Life PLC VAR 09/17/2029 | 0.88 | Royaume-Uni | 2.3 | 0.02 |
| National Australia Bank Ltd VAR 09/15/2031 | 0.88 | Australie | 4.3 | 0.04 |
| Credit Agricole SA VAR 01/12/2028 | 0.85 | France | 4.7 | 0.04 |
| Anglian Water Osprey Financing 5% 04/30/2023 | 0.82 | Royaume-Uni | 1.1 | 0.01 |
| Total (%) | 24.39 |  |  |  |


## Exposition sectorielle (%)	Contribution à la duration par secteur
Portefeuille
| Finance | 34.37 |
| --- | --- |
| Industrie | 32.26 |
| Souverain | 19.54 |
| Serv. aux collect. | 3.91 |
| Securitized | 3.70 |

Quasi & Foreign Gvt	2.05
Autres	0.46
Cash	3.71
1.0
0.8
0.6
0.4
0.2
Finance
Industrie
Souverain
Serv. aux
collect.
Securitized
0.0
Port.	0.9	0.9	0.4	0.1	0.1

## Exposition Actions par zone géographique (%)	Contribution à la duration par géographie
Portefeuille
Royaume-Uni	24.29
Etats-Unis	21.73
France	9.62
Allemagne	9.44
Italie	5.93
Espagne	4.63
Brésil	1.85
Chine	1.59
Australie	1.43
Irlande	1.40
Autres	14.38
Cash	3.71
0.7
|  |  |  |
| --- | --- | --- |
|  |  |  |  |
|  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |

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

## Exposition par Maturité (%)
50
40
30
20
10
| 0 | 0-1 an | 1-3 ans | 3-5 ans | 5-7 ans |
| --- | --- | --- | --- | --- |
| Portefeuille | 11.06 | 45.39 | 42.71 | 0.84 |


## Exposition par rating (%)
45
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |

40
35
30
25
20
15
10
5
| 0 | AAA | AA | A | BBB | BB | B | CCC | NR | Cash |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille | 15.52 | 6.78 | 8.82 | 40.68 | 15.50 | 8.73 | 0.26 | 0.01 | 3.71 |


## Exposition par devise (%)
50
40
30
20
10
0	EUR	USD	GBP
Portefeuille	38.17	32.09	29.74