# Performance & Risk
## Performance Evolution (EUR)
% of AUM covered by ESG absolute rating: Portfolio = 81.8% (not meaningful for coverage below 50%)
|  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
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108
105
102
99
96
93
90
30/09/19
30/03/20
30/09/20
30/03/21
30/09/21
30/03/22 30/09/22
Portfolio* (-5.09%)
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* (%) | 4.59 | 5.35 | 4.53 | 6.19 |
| Sharpe Ratio | -1.12 | -0.01 | 0.07 | 0.32 |
| Rolling Performance (%) |  |  |  |  |
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 30/09/21 30/09/22 | 30/09/20 30/09/21 | 30/09/19 30/09/20 | 30/09/18 30/09/19 | 30/09/17 30/09/18 | Launch |
| Portfolio* | -1.82 | -1.67 | -4.94 | -6.81 | -5.09 | -6.51 | -6.75 | 2.05 | -0.27 | -1.27 | -0.23 | 24.31 |
| Annual Calendar Performance (%) |
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| Portfolio* | -0.34 | 0.30 | 4.31 | -3.90 | 5.21 | 6.28 | -1.52 | 5.28 | 2.00 | 9.88 |

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.

## Asset Allocation (%)
0	10	20	30	40	50	60	70	80	90	100	110
| Equities | 32.49 | 24.84 | 34.64 | 26.35 | 18.91 | 18.53 | 18.90 | 16.84 | 13.53 | 13.94 | 13.36 | 15.13 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 0.73 | 0.75 | 0.75 | 0.78 | 0.80 | 0.81 | 2.84 | 5.26 | 6.54 | 7.51 | 7.57 | 7.83 |
| Bonds | 49.21 | 51.20 | 49.88 | 49.89 | 53.44 | 54.79 | 45.68 | 43.08 | 44.15 | 43.54 | 42.76 | 45.41 |
| Monetary | 17.57 | 23.21 | 14.72 | 22.98 | 26.85 | 25.87 | 32.57 | 34.83 | 35.78 | 35.01 | 36.31 | 31.64 |

29/10/2021
30/11/2021
31/12/2021
31/01/2022
28/02/2022
31/03/2022
29/04/2022
31/05/2022
30/06/2022
29/07/2022
31/08/2022
30/09/2022
For the Asset allocation, the equities derivatives exposure is included in the equities part . The counterpart of this exposure is included in the monetary part and gives an overall exposure of 100%.

## Currency Breakdown (%)
70
60
50
40
30
20
10
0
|  | EUR | USD | CHF | GBP | HKD | SEK | Other |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | Portfolio | 65.03 | 24.48 | 5.51 | 3.55 | 2.15 | 1.44 | -2.16 |

-10
Source(s): AXA Investment Managers - GICS as at 30/09/2022
For more information about AXA IM, visit axa-im.com
| Sector Breakdown (%) |  |  | Geographical Breakdown (%) |  |
| --- | --- | --- | --- | --- |
|  | Portfolio |  |  | Portfolio |
| Industrials | 21.24 |  | European Economic Area | 5.06 |
| Cons. stap. | 21.11 |  | Others | 4.76 |
| IT | 18.57 |  | Japan | 2.99 |
| Health Care | 12.66 |  | Emerging Markets | 2.70 |
| Financials | 11.39 |  | North America | 0.17 |
| Cons. disc. | 10.60 |  | Asia ex Japan | 0.15 |
| Materials | 6.09 |  |
| Energy | 4.11 |
| Communication Services | 1.94 |
| Real estate | -1.31 |
| Utilities | -1.80 |
| Not classified | -4.60 |
| MarketCap Breakdown (EUR - %) |  |

16
14
12
10
8
6
4
2
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
Port.	0.17	0.06	0.20	0.79	2.22	3.59	3.91	13.58	3.73	5.34
Source(s): AXA Investment Managers - GICS as at 30/09/2022
For more information about AXA IM, visit axa-im.com
| Top 10 Holdings |  |
| --- | --- |
| Equity | Weighting (%) | Sector | Issuer country | Currency |
| Nestle SA | 5.79 | Cons. stap. | European Economic Area | CHF |
| Prysmian SpA | 3.87 | Industrials | European Economic Area | EUR |
| Diageo PLC | 3.24 | Cons. stap. | Others | GBP |
| Keyence Corp | 3.23 | IT | Japan | JPY |
| L'Occitane Ltd | 3.04 | Cons. stap. | European Economic Area | HKD |
| Rio Tinto PLC | 3.02 | Materials | Others | GBP |
| Volvo AB | 2.91 | Industrials | European Economic Area | SEK |
| Moody's Corp | 2.81 | Financials | North America | USD |
| Roche Holding AG | 2.79 | Health Care | European Economic Area | CHF |
| STELLANTIS NV | 2.60 | Cons. disc. | European Economic Area | EUR |
| Total (%) | 33.31 |  |  |  |

Fixed Income : 45% of the overall portfolio
| Fund Key Metrics |  |
| --- | --- |
|  | Portfolio |  |  | Portfolio |
| Number of Holdings | 252 | Mod. Duration |  | 2.59 |
| Number of Issuers | 154 | Yield To Worst (%) |  | 3.22 |
| Linear Average Rating | BBB+ |  |  |  |
| Top 10 Holdings |  |  |  |  |
| Name | Weighting (%) | Issuer country | Modified duration | Contribution |
| France Government Bond OAT 0.25% 07/25/2024 | 6.68 | European Economic Area | 1.8 | 0.10 |
| German Inflation Linked Bond 0.1% 04/15/2023 | 5.92 | European Economic Area | 0.5 | 0.00 |
| F00008252 IRS USD R V 12MUSCPI | 3.81 |  |  | 0.00 |
| F00008251 IRS USD R F 2.95100 | 3.81 |  |  | 0.00 |
| Spain (Kingdom of) I/L BOND 0.15% 11/30/2023 | 3.32 | European Economic Area | 1.2 | 0.00 |
| Schneider Electric SE 0.25% 09/09/2024 | 2.27 | European Economic Area | 1.6 | 0.00 |
| BNP Paribas SA 1.125% 11/22/2023 | 2.19 | European Economic Area | 1.1 | 0.00 |
| F00008260 IRS EUR R F 3.34500 | 1.97 |  | 4.9 | 0.10 |
| F00008269 IRS USD R F 3.04000 | 1.77 |  |  | 0.00 |
| F00008268 IRS USD R V 12MUSCPI | 1.77 |  |  | 0.00 |
| Total (%) | 33.50 |  |  |  |

Source(s): AXA Investment Managers - GICS as at 30/09/2022
For more information about AXA IM, visit axa-im.com

## Maturity Breakdown (%)
20
16
12
8
4
0	0-1 year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 years
Portfolio	6.89	18.81	12.88	4.32	0.99	0.50	1.08

## Rating Breakdown (%)
30
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |  |  |

20
10
| 0 | AAA | AA | A | BBB | BB | B | CCC | NR |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 2.36 | 2.41 | 11.13 | 25.29 | 3.00 | 0.34 | - | 0.94 |


## Instrument Type Breakdown (%)
20
16
12
8
4
0	Financial	Industrials	Sovereign	Utility	Not Classified	Quasi & Foreign
Government
Portfolio	17.45	17.07	5.28	4.61	0.91	0.16
Diversification : 8% of the overall portfolio
| Equity | Weighting (%) | Issuer country | Currency |
| --- | --- | --- | --- |
| iShares Physical Gold ETC | 4.73 | European Economic Area | USD |
| AXA WF Dynamic Optimal Income | 2.15 | European Economic Area | USD |
| AXA IM WAVe Cat Bonds Fund | 0.61 | Others | EUR |
| AXA IM WAVe Cat Bonds Fund | 0.33 | Others | USD |
| Total (%) | 7.83 |  |  |
| For more information about AXA IM, visit axa-im.com |  |  |  |


## Top 10 Holdings
Source(s): AXA Investment Managers - GICS as at 30/09/2022

Translation (ENFR, 2022-09-30):
# Performance et risque
## Evolution de la performance (EUR)
% de l’encours sous gestion couvert par la note ESG absolue : Portefeuille = 81.8% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)
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108
105
102
99
96
93
90
30/09/19
30/03/20
30/09/20
30/03/21
30/09/21
30/03/22 30/09/22
Portefeuille* (-5.09%)
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* (%) | 4.59 | 5.35 | 4.53 | 6.19 |
| Ratio de Sharpe | -1.12 | -0.01 | 0.07 | 0.32 |
| Performance glissante (%) |  |  |  |  |

30/09/22
1 mois	3 mois	6 mois	YTD	3 ans	5 ans	30/09/21
30/09/20
30/09/21
30/09/19
30/09/20
30/09/18
30/09/19
30/09/17
30/09/18
Création
Portefeuille*	-1.82	-1.67	-4.94	-6.81	-5.09	-6.51	-6.75	2.05	-0.27	-1.27	-0.23	24.31

## Performance calendaire annuelle (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -0.34 | 0.30 | 4.31 | -3.90 | 5.21 | 6.28 | -1.52 | 5.28 | 2.00 | 9.88 |

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.

## Répartition par classe d'actifs (%)
0	10	20	30	40	50	60	70	80	90	100	110
| Actions | 32.49 | 24.84 | 34.64 | 26.35 | 18.91 | 18.53 | 18.90 | 16.84 | 13.53 | 13.94 | 13.36 | 15.13 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 0.73 | 0.75 | 0.75 | 0.78 | 0.80 | 0.81 | 2.84 | 5.26 | 6.54 | 7.51 | 7.57 | 7.83 |
| Obligations | 49.21 | 51.20 | 49.88 | 49.89 | 53.44 | 54.79 | 45.68 | 43.08 | 44.15 | 43.54 | 42.76 | 45.41 |
| Monétaire | 17.57 | 23.21 | 14.72 | 22.98 | 26.85 | 25.87 | 32.57 | 34.83 | 35.78 | 35.01 | 36.31 | 31.64 |

29/10/2021
30/11/2021
31/12/2021
31/01/2022
28/02/2022
31/03/2022
29/04/2022
31/05/2022
30/06/2022
29/07/2022
31/08/2022
30/09/2022
Pour l'Evolution de la composition, l'exposition des produits de type dérivés actions est incluse dans la partie actions. La contrepartie de cette exposition est incluse dans la partie monétaire et permet d'obtenir une exposition totale à 100%.

## Exposition par devise (%)
70
60
50
40
30
20
10
0
|  | EUR | USD | CHF | GBP | HKD | SEK | Autres |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | Portefeuille | 65.03 | 24.48 | 5.51 | 3.55 | 2.15 | 1.44 | -2.16 |

-10
Source(s) : AXA Investment Managers - GICS au 30/09/2022
Pour obtenir de plus amples informations sur AXA IM, rendez-vous sur axa-im.com

## Exposition sectorielle (%)	Exposition géographique (%)
Portefeuille
Industrie	21.24
Conso. Base	21.11
Technologie	18.57
Santé	12.66
Finance	11.39
Conso. cycl.	10.60
Matériaux	6.09
Energie	4.11
Services de Communication	1.94
Immobilier	-1.31
Serv. aux collect.	-1.80
Non Classé	-4.60
Portefeuille
Pays membres de la zone EEE	5.06
Autres	4.76
Japon	2.99
Marchés émergents	2.70
Amérique du Nord	0.17
Asie ex Japon	0.15

## Ventilation par capitalisation boursière (EUR - %)
16
14
12
10
8
6
4
2
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
Port.	0.17	0.06	0.20	0.79	2.22	3.59	3.91	13.58	3.73	5.34
Source(s) : AXA Investment Managers - GICS au 30/09/2022
Pour obtenir de plus amples informations sur AXA IM, rendez-vous sur axa-im.com
| 10 principaux titres |  |
| --- | --- |
| Action | Pondération (%) | Secteur | Pays émetteur | Devise |
| Nestle SA | 5.79 | Conso. Base | Pays membres de la zone EEE | CHF |
| Prysmian SpA | 3.87 | Industrie | Pays membres de la zone EEE | EUR |
| Diageo PLC | 3.24 | Conso. Base | Autres | GBP |
| Keyence Corp | 3.23 | Technologie | Japon | JPY |
| L'Occitane Ltd | 3.04 | Conso. Base | Pays membres de la zone EEE | HKD |
| Rio Tinto PLC | 3.02 | Matériaux | Autres | GBP |
| Volvo AB | 2.91 | Industrie | Pays membres de la zone EEE | SEK |
| Moody's Corp | 2.81 | Finance | Amérique du Nord | USD |
| Roche Holding AG | 2.79 | Santé | Pays membres de la zone EEE | CHF |
| STELLANTIS NV | 2.60 | Conso. cycl. | Pays membres de la zone EEE | EUR |
| Total (%) | 33.31 |  |  |  |

Obligations : 45% du portefeuille global
| Caractéristiques du portefeuille |  |
| --- | --- |
|  | Portefeuille |  |  | Portefeuille |
| Nombre de lignes | 252 | Mod. Duration |  | 2.59 |
| Nombre d'émetteurs | 154 | Yield to worst (%) |  | 3.22 |
| Rating moyen linéaire | BBB+ |  |  |  |
| 10 principaux titres |  |  |  |  |
| Libellé | Pondération (%) | Pays émetteur | Sensibilité | Contribution |
| France Government Bond OAT 0.25% 07/25/2024 | 6.68 | Pays membres de la zone EEE | 1.8 | 0.10 |
| German Inflation Linked Bond 0.1% 04/15/2023 | 5.92 | Pays membres de la zone EEE | 0.5 | 0.00 |
| F00008252 IRS USD R V 12MUSCPI | 3.81 |  |  | 0.00 |
| F00008251 IRS USD R F 2.95100 | 3.81 |  |  | 0.00 |
| Spain (Kingdom of) I/L BOND 0.15% 11/30/2023 | 3.32 | Pays membres de la zone EEE | 1.2 | 0.00 |
| Schneider Electric SE 0.25% 09/09/2024 | 2.27 | Pays membres de la zone EEE | 1.6 | 0.00 |
| BNP Paribas SA 1.125% 11/22/2023 | 2.19 | Pays membres de la zone EEE | 1.1 | 0.00 |
| F00008260 IRS EUR R F 3.34500 | 1.97 |  | 4.9 | 0.10 |
| F00008269 IRS USD R F 3.04000 | 1.77 |  |  | 0.00 |
| F00008268 IRS USD R V 12MUSCPI | 1.77 |  |  | 0.00 |
| Total (%) | 33.50 |  |  |  |

Source(s) : AXA Investment Managers - GICS au 30/09/2022
Pour obtenir de plus amples informations sur AXA IM, rendez-vous sur axa-im.com

## Exposition par maturité (%)
20
16
12
8
4
0	0-1 an	1-3 ans	3-5 ans	5-7 ans	7-10 ans	10-20 ans	+ 20 ans
Portefeuille	6.89	18.81	12.88	4.32	0.99	0.50	1.08

## Exposition par rating (%)
30
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |  |  |

20
10
| 0 | AAA | AA | A | BBB | BB | B | CCC | NR |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille | 2.36 | 2.41 | 11.13 | 25.29 | 3.00 | 0.34 | - | 0.94 |


## Exposition par type d'instrument (%)
20
16
12
8
4
0	Finance	Industrie	Souverain	Services aux Collectivités
Hors catégorie	Quasi & Foreign
Government
Portefeuille	17.45	17.07	5.28	4.61	0.91	0.16
Diversification : 8% du portefeuille global
| Action | Pondération (%) | Pays émetteur | Devise |
| --- | --- | --- | --- |
| iShares Physical Gold ETC | 4.73 | Pays membres de la zone EEE | USD |
| AXA WF Dynamic Optimal Income | 2.15 | Pays membres de la zone EEE | USD |
| AXA IM WAVe Cat Bonds Fund | 0.61 | Autres | EUR |
| AXA IM WAVe Cat Bonds Fund | 0.33 | Autres | USD |
| Total (%) | 7.83 |  |  |


## 10 principaux titres
Source(s) : AXA Investment Managers - GICS au 30/09/2022
Pour obtenir de plus amples informations sur AXA IM, rendez-vous sur axa-im.com