# Performance & Risk
## Performance Evolution (EUR)
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180
160
140
120
100
80
60
USD
316.92
Port.	Bench.
Number of Holdings	58	11075
Turnover: Rolling 1Y (%)	30	-
Active Share (%)	98	-

## Fund Profile
ESG Rating
ESG Relative Rating
CO2 Relative rating
31/01/19
31/07/19
31/01/20
31/07/20
31/01/21
31/07/21 31/01/22
Portfolio* (10.73%)	Benchmark (39.82%)
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,
% of AUM covered by ESG absolute rating: Portfolio = 100.0% Benchmark = 83.5% (not meaningful for coverage below 50%)
| 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. | % of AUM covered by CO2 intensity indicator: Portfolio = 98.4% Benchmark = 94.0% (not meaningful for |
| --- | --- |
| coverage below 50%) |
| Risk Analysis |  |  |  |  |  |
|  | 1Y | 3Y | 5Y | Launch |  |
| Portfolio Volatility* (%) | 19.90 | 22.47 | 19.23 | 18.17 |  |
| Benchmark Volatility (%) | 14.75 | 21.57 | 18.68 | 17.66 |  |
| Relative Risk/Tracking Error  (%) | 10.08 | 8.85 | 7.55 | 7.29 |  |
| Sharpe Ratio | -0.45 | 0.23 | 0.32 | 0.39 |  |
| Information Ratio | -1.45 | -0.80 | -0.50 | -0.51 |  |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 31/01/21 31/01/22 | 31/01/20 31/01/21 | 31/01/19 31/01/20 | 31/01/18 31/01/19 | 31/01/17 31/01/18 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -15.56 | -19.52 | -15.57 | -15.56 | 10.73 | 24.83 | -10.74 | 17.33 | 5.72 | -11.28 | 27.07 | 37.18 |
| Benchmark | -7.37 | -8.49 | -6.55 | -7.37 | 39.82 | 58.01 | 5.07 | 20.44 | 10.48 | -9.88 | 25.40 | 79.35 |
| Excess Return | -8.19 | -11.03 | -9.01 | -8.19 | -29.09 | -33.17 | -15.81 | -3.11 | -4.76 | -1.39 | 1.67 | -42.17 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 4.74 | 17.61 | 15.29 | -13.94 | 27.73 | - | - | - | - | - |
| Benchmark | 14.95 | 15.68 | 24.66 | -14.72 | 23.77 | - | - | - | - | - |
| Excess Return | -10.21 | 1.92 | -9.37 | 0.78 | 3.97 | - | - | - | - | - |

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 |
| Equity |  |  | Weighting (%) | Sector | Geography |
|  | Portfolio | Benchmark | Relative |  |  |
| Gsi Group Inc | 3.55 | 0.04 | 3.51 | Information Technology | USA |
| ICON PLC | 3.44 | - | 3.44 | Health Care | USA |
| Exponent Inc | 3.08 | 0.04 | 3.04 | Industrials | USA |
| Badger Meter Inc | 2.80 | 0.03 | 2.78 | Information Technology | USA |
| Pool Corp | 2.67 | - | 2.67 | Consumer Discretionary | USA |
| MGP Ingredients Inc | 2.54 | 0.01 | 2.53 | Consumer Staples | USA |
| IDP Education Ltd | 2.51 | - | 2.51 | Consumer Discretionary | Australia |
| Tetra Tech Inc | 2.36 | 0.07 | 2.29 | Industrials | USA |
| ID Logistics Group | 2.27 | - | 2.27 | Industrials | France |
| Samsonite International SA | 2.17 | 0.03 | 2.14 | Consumer Discretionary | USA |
| Total (%) | 27.40 | 0.22 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Gsi Group Inc | 3.55 | 0.04 | 3.51 |  | Devon Energy Corp | 0.00 | 0.28 | -0.28 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ICON PLC | 3.44 | 0.00 | 3.44 |  | Apollo Global Management Inc | 0.00 | 0.23 | -0.23 |
| Exponent Inc | 3.08 | 0.04 | 3.04 |  | ON Semiconductor Corp | 0.00 | 0.23 | -0.23 |
| Badger Meter Inc | 2.80 | 0.03 | 2.78 |  | Diamondback Energy Inc | 0.00 | 0.19 | -0.19 |
| Pool Corp | 2.67 | 0.00 | 2.67 |  | NetApp Inc | 0.00 | 0.17 | -0.17 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-8	-6	-4	-2	0	2	4	6	8	10	12	14
Information Technology	26.54	13.95
Industrials	18.10	17.69
Consumer Discretionary	17.15	12.31
Health Care	10.56	10.39
Financials	8.81	13.54
Communication Services	5.56	3.74
Consumer Staples	4.77	4.16
Real Estate	3.98	9.12
Materials	1.72	7.95
Not classified	0.00	0.01
Utilities	0.00	3.07
Energy	0.00	4.06
Cash	2.81	0.00

## Equity exposure by geographical area (%)
Portfolio	Benchmark
USA	56.04	58.03
Japan	7.99	6.36
United Kingdom	6.61	3.92
France	6.30	2.19
Australia	4.47	1.95
Switzerland	3.65	2.14
Germany	2.57	2.10
Netherlands	2.26	1.18
Italy	2.09	0.74
Canada	1.86	3.08
Spain	1.57	0.63
Luxemburg	0.68	0.09
Other	1.09	17.59
Cash	2.81	0.00

## Active Exposure by Geography (%)
-18	-15	-12	-9	-6	-3	0	3	6
MarketCap Breakdown (USD - %)
33
30
27
24
21
18
15
12
9
6
3
0	0 To
250mn
250mn To 500mn
500mn To 1bn
1bn To 3bn
3bn To 5bn
5bn To 10bn
10bn To 25bn
25bn To 100bn
100bn To 250bn
More Than 250bn
Cash
Port.	-	0.52	1.80	31.28	22.87	25.81	14.90	-	-	-	2.81
Bench.	2.06	4.44	8.86	26.97	17.85	21.96	17.07	0.74	0.01	0.05	-

Translation (ENFR, 2022-01-31):
# Performance et risque
## Evolution de la performance (EUR)
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180
160
140
120
100
80
60
Valeur liquidative
Cap.

### 137.18
Actif net du fonds (M)
USD

### 316.92
Depuis le: 07/01/2013
100% S&P Global Small Cap Total Return Net
Port.

## Caractéristiques du portefeuille
Indice de réf.
Nombre de lignes	58 11075 Turnover: Glissant 1an (%)	30	- Active Share (%)	98	-

## Profil du portefeuille
Notation ESG
Notation ESG relative
Intensité relative en CO2
31/01/19
31/07/19
31/01/20
31/07/20
31/01/21
31/07/21 31/01/22
Portefeuille* (10.73%)	Indice de réference (39.82%)
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* (%) | 19.90 | 22.47 | 19.23 | 18.17 |
| Volatilité de l'indice de référence (%) | 14.75 | 21.57 | 18.68 | 17.66 |
| Risque relatif/Tracking Error  (%) | 10.08 | 8.85 | 7.55 | 7.29 |
| Ratio de Sharpe | -0.45 | 0.23 | 0.32 | 0.39 |
| Ratio d'information | -1.45 | -0.80 | -0.50 | -0.51 |

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 = 100.0% Indice de référence = 83.5% (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 = 98.4% Indice de référence = 94.0% (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 | 31/01/21 31/01/22 | 31/01/20 31/01/21 | 31/01/19 31/01/20 | 31/01/18 31/01/19 | 31/01/17 31/01/18 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -15.56 | -19.52 | -15.57 | -15.56 | 10.73 | 24.83 | -10.74 | 17.33 | 5.72 | -11.28 | 27.07 | 37.18 |
| Indice de réference | -7.37 | -8.49 | -6.55 | -7.37 | 39.82 | 58.01 | 5.07 | 20.44 | 10.48 | -9.88 | 25.40 | 79.35 |
| Ecarts | -8.19 | -11.03 | -9.01 | -8.19 | -29.09 | -33.17 | -15.81 | -3.11 | -4.76 | -1.39 | 1.67 | -42.17 |

Performance calendaire annuelle (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 4.74 | 17.61 | 15.29 | -13.94 | 27.73 | - | - | - | - | - |
| Indice de réference | 14.95 | 15.68 | 24.66 | -14.72 | 23.77 | - | - | - | - | - |
| Ecarts | -10.21 | 1.92 | -9.37 | 0.78 | 3.97 | - | - | - | - | - |

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 |
| Action |  | Pondération (%) | Secteur | Géographie |
| Portefeuille | Indice de réference | Relative |  |  |
| Gsi Group Inc	3.55 | 0.04 | 3.51 | Technologie | Etats-Unis |
| ICON PLC	3.44 | - | 3.44 | Santé | Etats-Unis |
| Exponent Inc	3.08 | 0.04 | 3.04 | Industrie | Etats-Unis |
| Badger Meter Inc	2.80 | 0.03 | 2.78 | Technologie | Etats-Unis |
| Pool Corp	2.67 | - | 2.67 | Biens de conso. Cycliques | Etats-Unis |
| MGP Ingredients Inc	2.54 | 0.01 | 2.53 | Biens de conso. de base | Etats-Unis |
| IDP Education Ltd	2.51 | - | 2.51 | Biens de conso. Cycliques | Australie |
| Tetra Tech Inc	2.36 | 0.07 | 2.29 | Industrie | Etats-Unis |
| ID Logistics Group	2.27 | - | 2.27 | Industrie | France |
| Samsonite International SA	2.17 | 0.03 | 2.14 | Biens de conso. Cycliques | Etats-Unis |
| Total (%)	27.40 | 0.22 |  |  |  |


## 5 principales surpondérations (%)	5 principales sous-pondérations (%)
Port. Indice Relative de réf.
Port. Indice Relative de réf.
| Gsi Group Inc | 3.55 | 0.04 | 3.51 |  | Devon Energy Corp | 0.00 | 0.28 | -0.28 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ICON PLC | 3.44 | 0.00 | 3.44 |  | Apollo Global Management Inc | 0.00 | 0.23 | -0.23 |
| Exponent Inc | 3.08 | 0.04 | 3.04 |  | ON Semiconductor Corp | 0.00 | 0.23 | -0.23 |
| Badger Meter Inc | 2.80 | 0.03 | 2.78 |  | Diamondback Energy Inc | 0.00 | 0.19 | -0.19 |
| Pool Corp | 2.67 | 0.00 | 2.67 |  | NetApp Inc | 0.00 | 0.17 | -0.17 |


## Exposition sectorielle (%)
Portefeuille	Indice de réference

## Exposition sectorielle active (%)
-8	-6	-4	-2	0	2	4	6	8	10	12	14
Technologie	26.54	13.95
Industrie	18.10	17.69
Biens de conso. Cycliques	17.15	12.31
Santé	10.56	10.39
Finance	8.81	13.54
Services de Communication	5.56	3.74
Biens de conso. de base	4.77	4.16
Immobilier	3.98	9.12
Matériaux	1.72	7.95
Non Classés	0.00	0.01
Services aux collectivités	0.00	3.07
Energie	0.00	4.06
Monétaire	2.81	0.00

## Exposition Actions par zone géographique (%)
Portefeuille	Indice de réference
Etats-Unis	56.04	58.03
Japon	7.99	6.36
Royaume-Uni	6.61	3.92
France	6.30	2.19
Australie	4.47	1.95
Suisse	3.65	2.14
Allemagne	2.57	2.10
Pays-Bas	2.26	1.18
Italie	2.09	0.74
Canada	1.86	3.08
Espagne	1.57	0.63
Luxembourg	0.68	0.09
Autres	1.09	17.59
Monétaire	2.81	0.00

## Exposition régionale active (%)
-18	-15	-12	-9	-6	-3	0	3	6

## Ventilation par capitalisation boursière (USD - %)
33
30
27
24
21
18
15
12
9
6
3
0	De 0 à
250 mns
De 250 à
500 mns
De 500 mns
à 1 md
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.	-	0.52	1.80	31.28	22.87	25.81	14.90	-	-	-	2.81
Indice de réf.	2.06	4.44	8.86	26.97	17.85	21.96	17.07	0.74	0.01	0.05	-