# Performance & Risk
## Performance Evolution (EUR)
% of AUM covered by ESG absolute rating: Portfolio = 95.6% (not meaningful for coverage below 50%)
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120
115
110
105
100
95
28/09/18
30/03/19
30/09/19
30/03/20
30/09/20
30/03/21 30/09/21
Portfolio* (18.55%)
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* (%) | 2.02 | 6.74 | 5.50 | 5.64 |
| Sharpe Ratio | 2.65 | 1.10 | 1.02 | 0.92 |
| Rolling Performance (%) |  |  |  |  |
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 30/09/20 30/09/21 | 30/09/19 30/09/20 | 30/09/18 30/09/19 | 30/09/17 30/09/18 | 30/09/16 30/09/17 | Launch |
| Portfolio* | 0.46 | 0.46 | 0.73 | 1.72 | 18.55 | 21.74 | 3.70 | 8.25 | 5.60 | -2.10 | 4.89 | 26.07 |
| Annual Calendar Performance (%) |
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Portfolio* | 7.08 | 10.60 | -4.29 | 4.13 | 8.52 | - | - | - | - | - |

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 |
| Bundesschatzanweisungen 09/15/2023 | 2.88 | Germany | 2.0 | 0.06 |
| Telefonica Europe BV VAR PERP | 1.96 | Spain | 2.1 | 0.04 |
| Telecom Italia Finance SA 7.75% 01/24/2033 | 1.64 | Italy | 8.0 | 0.13 |
| Electricite de France SA VAR PERP | 1.52 | France | 6.0 | 0.09 |
| UniCredit SpA VAR 01/15/2032 | 1.47 | Italy | 4.8 | 0.07 |
| Just Retirement Group PLC VAR PERP | 1.39 | United Kingdom | 7.5 | 0.10 |
| Unibail-Rodamco SE VAR PERP | 1.36 | France | 2.0 | 0.03 |
| Banco de Sabadell SA VAR 04/15/2031 | 1.32 | Spain | 4.2 | 0.06 |
| Repsol International Finance BV VAR 03/25/2075 | 1.27 | Spain | 3.2 | 0.04 |
| HSBC Holdings PLC VAR PERP | 1.27 | United Kingdom | 0.9 | 0.01 |
| Total (%) | 16.06 |  |  |  |


## Sector Breakdown (%)	Contribution to duration by sector
Portfolio
Financial	45.25	4
2
Industrials	43.57	0
Utility	8.79	-2
Sovereign	2.88	-4
Pfd-Financial	1.12	-6
Industrials
Financial
Utility
Securitized
Not
Classified
Sovereign
Cash
Other	0.75	-8
Cash	-2.36
Port.	2.3	2.0	0.5	0.1	-1.4	-6.7	1.3

## Geographical Breakdown (%)	Contribution to Duration by Geography
Portfolio
2
Spain	20.10	1
Italy	19.63	0
-2
United Kingdom	13.63	-1
France	13.30	-3
Germany	11.14	-4
-5
| Portugal | 4.55 |  |  | Italy | Spain | France United ngdom | ustralia ortugal Ireland | zerland inland Other |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Ireland | 3.17 |  |  |  |  | Ki | A P | Swit |
| Australia | 2.73 |  |  | Port. 1.1 | 0.8 | 0.8	0.4 | 0.2	0.2	0.1 | 0.1	0.1  -5.6 |
| Finland | 1.69 |  |
| Other | 5.42 |
| Cash | -2.36 |
| Maturity Breakdown (%) |  |

United States	6.99	-6
F
30
25
20
15
10
5
0
-5	Cash	0-1 year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 years
Portfolio	-2.36	6.75	17.61	25.68	22.98	21.47	7.63	0.24

## Rating Breakdown (%)
50
40
30
20
10
0
|  | AAA | A | BBB | BB | B | N/A | Cash |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | Portfolio | 2.88 | 9.05 | 45.34 | 36.57 | 7.73 | 0.79 | -2.36 |

-10

## Currency Breakdown (%)
120
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100
80
60
40
20
0
EUR	GBP
Portfolio	95.35	4.65

Translation (ENFR, 2021-09-30):
# Performance et risque
## Evolution de la performance (EUR)
% de l’encours sous gestion couvert par la note ESG absolue : Portefeuille = 95.6% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)
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120
115
110
105
100
95
28/09/18
30/03/19
30/09/19
30/03/20
30/09/20
30/03/21 30/09/21
Portefeuille* (18.55%)
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* (%) | 2.02 | 6.74 | 5.50 | 5.64 |
| Ratio de Sharpe | 2.65 | 1.10 | 1.02 | 0.92 |
| Performance glissante (%) |  |  |  |  |
|  | 1 mois | 3 mois | 6 mois | YTD	3 ans | 5 ans | 30/09/20 30/09/21 | 30/09/19 30/09/20 | 30/09/18 30/09/19 | 30/09/17 30/09/18 | 30/09/16 30/09/17 | Création |
| Portefeuille* | 0.46 | 0.46 | 0.73 | 1.72	18.55 | 21.74 | 3.70 | 8.25 | 5.60 | -2.10 | 4.89 | 26.07 |
| Performance calendaire annuelle (%) |
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Portefeuille* | 7.08 | 10.60 | -4.29 | 4.13 | 8.52 | - | - | - | - | - |

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 |
| Bundesschatzanweisungen 09/15/2023 | 2.88 | Allemagne | 2.0 | 0.06 |
| Telefonica Europe BV VAR PERP | 1.96 | Espagne | 2.1 | 0.04 |
| Telecom Italia Finance SA 7.75% 01/24/2033 | 1.64 | Italie | 8.0 | 0.13 |
| Electricite de France SA VAR PERP | 1.52 | France | 6.0 | 0.09 |
| UniCredit SpA VAR 01/15/2032 | 1.47 | Italie | 4.8 | 0.07 |
| Just Retirement Group PLC VAR PERP | 1.39 | Royaume-Uni | 7.5 | 0.10 |
| Unibail-Rodamco SE VAR PERP | 1.36 | France | 2.0 | 0.03 |
| Banco de Sabadell SA VAR 04/15/2031 | 1.32 | Espagne | 4.2 | 0.06 |
| Repsol International Finance BV VAR 03/25/2075 | 1.27 | Espagne | 3.2 | 0.04 |
| HSBC Holdings PLC VAR PERP | 1.27 | Royaume-Uni | 0.9 | 0.01 |
| Total (%) | 16.06 |  |  |  |


## Exposition sectorielle (%)	Contribution à la duration par secteur
Portefeuille
Finance	45.25	4
2
Industrie	43.57	0
Serv. aux collect.	8.79	-2
Souverain	2.88	-4
Pfd-Financial	1.12	-6
Autres	0.75	-8
Industrie
Finance
Serv. aux
collect.
Securitized
Hors
catégorie
Souverain
Cash
Cash	-2.36
Port.	2.3	2.0	0.5	0.1	-1.4	-6.7	1.3

## Exposition géographique (%)	Contribution à la duration par géographie
Portefeuille
| Espagne | 20.10 |
| --- | --- |
| Italie | 19.63 |
| Royaume-Uni | 13.63 |
| France | 13.30 |
| Allemagne | 11.14 |

2
0
-2
-4
Italie
Espagne
France
Royaume-Uni
Australie
Portugal
Irlande
Suisse
Finlande
Autres
| Etats-Unis | 6.99 |  |
| --- | --- | --- |
| Portugal | 4.55 |
| Irlande | 3.17 |
| Australie | 2.73 |  |  | Port. 1.1	0.8 | 0.8	0.4 | 0.2 | 0.2	0.1 | 0.1 | 0.1  -5.6 |
| Finlande | 1.69 |  |
| Autres | 5.42 |
| Cash | -2.36 |
| Exposition par Maturité (%) |  |

-6
30
25
20
15
10
5
0
-5	Cash	0-1 an	1-3 ans	3-5 ans	5-7 ans	7-10 ans	10-20 ans	+ 20 ans
Portefeuille	-2.36	6.75	17.61	25.68	22.98	21.47	7.63	0.24

## Exposition par rating (%)
50
40
30
20
10
0
|  | AAA | A | BBB | BB | B | N/A | Cash |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | Portefeuille | 2.88 | 9.05 | 45.34 | 36.57 | 7.73 | 0.79 | -2.36 |

-10

## Exposition par devise (%)
120
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |

100
80
60
40
20
0
EUR	GBP
Portefeuille	95.35	4.65