# Performance & Risk
## Performance Evolution (USD)

## Fund Profile
ESG Rating
ESG Relative Rating
CO2 Relative rating
31/05/2018
31/05/2019
31/05/2020
28/05/2021
Portfolio* (85.54%)	Benchmark (71.25%)
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 = 97.2% Benchmark = 99.9% (not meaningful for coverage below 50%)
% of AUM covered by CO2 intensity indicator: Portfolio
= 96.1% Benchmark = 99.6% (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* (%) | 18.04 | 20.38 | 16.58 | 14.94 |  |
| Benchmark Volatility (%) | 15.86 | 19.04 | 15.58 | 13.78 |  |
| Relative Risk/Tracking Error  (%) | 7.51 | 4.90 | 4.35 | 4.48 |  |
| Sharpe Ratio | 2.43 | 1.09 | 1.26 | 1.10 |  |
| Information Ratio | 0.65 | 0.86 | 0.53 | 0.00 |  |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 31/05/2020 31/05/2021 | 31/05/2019 31/05/2020 | 31/05/2018 31/05/2019 | 31/05/2017 31/05/2018 | 31/05/2016 31/05/2017 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -1.32 | 7.15 | 15.93 | 8.92 | 43.43 | 20.22 | 7.60 | 23.08 | 15.48 | 280.92 |
| Benchmark | 0.65 | 10.60 | 16.69 | 12.41 | 39.65 | 16.35 | 5.39 | 21.02 | 20.27 | 306.94 |
| Excess Return | -1.97 | -3.45 | -0.77 | -3.49 | 3.78 | 3.87 | 2.21 | 2.06 | -4.79 | -26.02 |

Annual Calendar Performance (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 37.31 | 35.82 | -0.03 | 29.78 | -2.03 | 4.48 | 9.90 | 31.48 | - | - |
| Benchmark | 20.48 | 36.39 | -1.51 | 30.21 | 7.08 | 5.67 | 13.05 | 33.48 | - | - |
| Excess Return | 16.83 | -0.57 | 1.48 | -0.44 | -9.10 | -1.19 | -3.15 | -2.00 | - | - |

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 |  |  |
| Microsoft Corp | 5.50 | 5.29 | 0.21 | Technology | USA |
| Alphabet Inc | 4.72 | 3.94 | 0.77 | Technology | USA |
| Apple Inc | 4.71 | 5.52 | -0.82 | Technology | USA |
| Amazon.com Inc | 4.38 | 3.88 | 0.51 | Consumer Discretionary | USA |
| Facebook Inc | 2.32 | 2.22 | 0.10 | Technology | USA |
| American Express Co | 1.94 | 0.29 | 1.64 | Financial Services | USA |
| Visa Inc | 1.74 | 1.08 | 0.65 | Financial Services | USA |
| salesforce.com inc | 1.67 | 0.61 | 1.05 | Technology | USA |
| EOG Resources Inc | 1.57 | 0.13 | 1.44 | Energy | USA |
| Roper Technologies Inc | 1.55 | 0.13 | 1.42 | Technology | USA |
| Total (%) | 30.08 | 23.11 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| American Express Co | 1.94 | 0.29 | 1.64 |  | Berkshire Hathaway Inc | 0.00 | 1.55 | -1.55 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| IDEX Corp | 1.53 | 0.05 | 1.48 |  | JPMorgan Chase & Co | 0.00 | 1.41 | -1.41 |
| EOG Resources Inc | 1.57 | 0.13 | 1.44 |  | Tesla Inc | 0.00 | 1.35 | -1.35 |
| SVB Financial Group | 1.52 | 0.09 | 1.43 |  | Johnson & Johnson | 0.00 | 1.25 | -1.25 |
| Roper Technologies Inc | 1.55 | 0.13 | 1.42 |  | Home Depot Inc | 0.00 | 0.96 | -0.96 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-5	-4	-3	-2	-1	0	1	2	3	4	5	6
Technology	33.70	28.23
Consumer Discretionary	21.38	17.08
Health Care	16.31	12.38
Financial Services	14.93	18.09
Producer Durables	7.49	8.29
Energy	1.57	2.84
Consumer Staples	1.48	5.35
Materials & Processing	1.34	3.45
Utilities	0.00	4.30
Cash	1.80	0.00

## MarketCap Breakdown (%)
40
36
32
28
24
20
16
12
8
4
0	€250mn To
€500mn
€1bn To
€3bn
€3bn To
€5bn
€5bn To
€10bn
€10bn To
€25bn
€25bn To
€100bn
€100bn To
€250bn
More Than
€250bn
Cash
Port.	0.16	2.06	3.76	8.16	11.49	37.05	9.46	26.06	1.80
Bench.	-	-	0.05	1.17	10.83	28.41	23.80	35.73	-

Translation (ENFR, 2021-05-28):
# Performance et risque
## Evolution de la performance (USD)
Actif net du fonds (M)
USD

### 173.82
Indice de réf.
Port.
Nombre de lignes	69	505
Turnover: Glissant 1an (%)	37	-
Active Share (%)	69	-

## Profil du portefeuille
Notation ESG
Notation ESG relative
Intensité relative en CO2
31/05/2018
31/05/2019
31/05/2020
28/05/2021
Portefeuille* (85.54%)	Indice de réference (71.25%)
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* (%) | 18.04 | 20.38 | 16.58 | 14.94 |
| Volatilité de l'indice de référence (%) | 15.86 | 19.04 | 15.58 | 13.78 |
| Risque relatif/Tracking Error  (%) | 7.51 | 4.90 | 4.35 | 4.48 |
| Ratio de Sharpe | 2.43 | 1.09 | 1.26 | 1.10 |
| Ratio d'information | 0.65 | 0.86 | 0.53 | 0.00 |

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 = 97.2% Indice de référence = 99.9% (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 = 96.1% Indice de référence = 99.6% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)

## Performance glissante (%)
|  | 1 mois | 3 mois | 6 mois | YTD | 31/05/2020 31/05/2021 | 31/05/2019 31/05/2020 | 31/05/2018 31/05/2019 | 31/05/2017 31/05/2018 | 31/05/2016 31/05/2017 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -1.32 | 7.15 | 15.93 | 8.92 | 43.43 | 20.22 | 7.60 | 23.08 | 15.48 | 280.92 |
| Indice de réference | 0.65 | 10.60 | 16.69 | 12.41 | 39.65 | 16.35 | 5.39 | 21.02 | 20.27 | 306.94 |
| Ecarts | -1.97 | -3.45 | -0.77 | -3.49 | 3.78 | 3.87 | 2.21 | 2.06 | -4.79 | -26.02 |

Performance calendaire annuelle (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 37.31 | 35.82 | -0.03 | 29.78 | -2.03 | 4.48 | 9.90 | 31.48 | - | - |
| Indice de réference | 20.48 | 36.39 | -1.51 | 30.21 | 7.08 | 5.67 | 13.05 | 33.48 | - | - |
| Ecarts | 16.83 | -0.57 | 1.48 | -0.44 | -9.10 | -1.19 | -3.15 | -2.00 | - | - |

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 |  |  |
| Microsoft Corp	5.50 | 5.29 | 0.21 | Technologie | Etats-Unis |
| Alphabet Inc	4.72 | 3.94 | 0.77 | Technologie | Etats-Unis |
| Apple Inc	4.71 | 5.52 | -0.82 | Technologie | Etats-Unis |
| Amazon.com Inc	4.38 | 3.88 | 0.51 | Biens de conso. Cycliques | Etats-Unis |
| Facebook Inc	2.32 | 2.22 | 0.10 | Technologie | Etats-Unis |
| American Express Co	1.94 | 0.29 | 1.64 | Services financiers | Etats-Unis |
| Visa Inc	1.74 | 1.08 | 0.65 | Services financiers | Etats-Unis |
| salesforce.com inc	1.67 | 0.61 | 1.05 | Technologie | Etats-Unis |
| EOG Resources Inc	1.57 | 0.13 | 1.44 | Energie | Etats-Unis |
| Roper Technologies Inc	1.55 | 0.13 | 1.42 | Technologie | Etats-Unis |
| Total (%)	30.08 | 23.11 |  |  |  |


## 5 principales surpondérations (%)	5 principales sous-pondérations (%)
Port. Indice Relative de réf.
Port. Indice Relative de réf.
| American Express Co | 1.94 | 0.29 | 1.64 |  | Berkshire Hathaway Inc | 0.00 | 1.55 | -1.55 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| IDEX Corp | 1.53 | 0.05 | 1.48 |  | JPMorgan Chase & Co | 0.00 | 1.41 | -1.41 |
| EOG Resources Inc | 1.57 | 0.13 | 1.44 |  | Tesla Inc | 0.00 | 1.35 | -1.35 |
| SVB Financial Group | 1.52 | 0.09 | 1.43 |  | Johnson & Johnson | 0.00 | 1.25 | -1.25 |
| Roper Technologies Inc | 1.55 | 0.13 | 1.42 |  | Home Depot Inc | 0.00 | 0.96 | -0.96 |


## Exposition sectorielle (%)
Portefeuille  Indice de réference

## Exposition sectorielle active (%)
-5	-4	-3	-2	-1	0	1	2	3	4	5	6
Technologie	33.70	28.23
Biens de conso. Cycliques	21.38	17.08
Santé	16.31	12.38
Services financiers	14.93	18.09
Production de biens durables	7.49	8.29
Energie	1.57	2.84
Biens de conso. de base	1.48	5.35
Matériaux	1.34	3.45
Services aux collectivités	0.00	4.30
Monétaire	1.80	0.00

## Ventilation par capitalisation boursière (%)
40
36
32
28
24
20
16
12
8
4
0	
De 250 à
500 mns d’euros
De 1 à 3 mds d’euros
De 3 à 5 mds d’euros
De 5 à 10 mds d’euros
De 10 à 25 mds d’euros
De 25 à 100 mds d’euros
De 100 à
250 mds d’euros
Plus de 250 mds d’euros
Monétaire
| Port. | 0.16 | 2.06 | 3.76 | 8.16 | 11.49 | 37.05 | 9.46 | 26.06 | 1.80 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Indice de réf. | - | - | 0.05 | 1.17 | 10.83 | 28.41 | 23.80 | 35.73 | - |