# Performance & Risk
## Performance Evolution (EUR)
Number of Holdings	20
Number of Issuers	5

## Fund Profile
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102.5
100.0
97.5
95.0
92.5
90.0
87.5
31/07/18
30/01/19
30/07/19
30/01/20
30/07/20
30/01/21 30/07/21
ESG Rating
% of AUM covered by ESG absolute rating: Portfolio = 98.3% (not meaningful for coverage below 50%)
Portfolio* (-0.13%)
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* (%) | 2.75 | 3.74 | - | 3.74 |
| Sharpe Ratio | 2.82 | 0.33 | - | 0.34 |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 31/07/2020 31/07/2021 | 31/07/2019 31/07/2020 | 31/07/2018 31/07/2019 | 31/07/2017 31/07/2018 | 31/07/2016 31/07/2017 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 1.37 | 1.86 | 3.60 | 4.74 | 6.42 | -3.69 | -2.56 | - | - | -0.07 |

Annual Calendar Performance (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -1.40 | -0.46 | - | - | - | - | - | - | - | - |

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 |
| UK Gilt Inflation Linked 0.125% 08/10/2031 | 21.63 | United Kingdom | 10.1 | 2.19 |
| US Treasury Inflation Idx Bonds 3.375% 04/15/2032 | 11.39 | United States | 9.4 | 1.07 |
| German Inflation Linked Bond 0.5% 04/15/2030 | 8.89 | Germany | 8.7 | 0.78 |
| US Treasury Inflation Idx Bonds 3.875% 04/15/2029 | 7.70 | United States | 6.9 | 0.53 |
| UK Gilt Inflation Linked 0.125% 03/22/2029 | 6.34 | United Kingdom | 7.7 | 0.49 |
| Italy (Republic of) 1.25% 09/15/2032 | 6.00 | Italy | 10.5 | 0.63 |
| US Treasury Inflation Idx Bonds 0.125% 01/15/2031 | 5.72 | United States | 9.5 | 0.54 |
| Italy (Republic of) 0.4% 05/15/2030 | 5.24 | Italy | 8.7 | 0.45 |
| France Government Bond OAT 3.15% 07/25/2032 | 4.55 | France | 10.0 | 0.45 |
| US Treasury Inflation Idx Bonds 0.125% 07/15/2030 | 4.42 | United States | 9.0 | 0.40 |
| Total (%) | 81.88 |  |  |  |


## Sector Breakdown (%)	Contribution to duration by sector
Portfolio
Treasury	98.29
Cash	1.71
2.1
1.8
1.5
1.2
0.9
0.6
0.3
0.0
Treasury
Port.	1.9
| Geographical Breakdown (%) |  |
| --- | --- |
|  | Portfolio |
| United States | 32.39 |
| United Kingdom | 32.05 |
| Italy | 11.66 |
| France | 11.60 |
| Germany | 10.59 |
| Cash | 1.71 |


## Contribution to Duration by Geography
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0.0
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United States
United Kingdom
France	Italy	Germany
Port.	0.6	0.6	0.2	0.2	0.2

## Maturity Breakdown (%)
60
50
40
30
20
10
0	Cash	5-7 years	7-10 years	10-20 years
Portfolio	1.71	0.27	51.73	46.30

## Rating Breakdown (%)
50
40
30
20
10
0	AAA	AA	BBB	Cash
Portfolio	42.81	43.82	11.66	1.71

## Currency Breakdown (%)
40
30
20
10
0	EUR	USD	GBP
Portfolio	34.44	32.95	32.60

Translation (ENFR, 2021-07-30):
# Performance et risque
## Evolution de la performance (EUR)
Cap.	Dis.
99.93	101.32
Actif net du fonds (M)
EUR
283.32

## Caractéristiques du portefeuille
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102.5
100.0
97.5
95.0
92.5
90.0
87.5
31/07/18
30/01/19
30/07/19
30/01/20
30/07/20
30/01/21 30/07/21
% de l’encours sous gestion couvert par la note ESG absolue : Portefeuille = 98.3% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)
Portefeuille* (-0.13%)
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* (%) | 2.75 | 3.74 | - | 3.74 |
| Ratio de Sharpe | 2.82 | 0.33 | - | 0.34 |


## Performance glissante (%)
|  | 1 mois | 3 mois | 6 mois | YTD | 31/07/2020 31/07/2021 | 31/07/2019 31/07/2020 | 31/07/2018 31/07/2019 | 31/07/2017 31/07/2018 | 31/07/2016 31/07/2017 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 1.37 | 1.86 | 3.60 | 4.74 | 6.42 | -3.69 | -2.56 | - | - | -0.07 |

Performance calendaire annuelle (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -1.40 | -0.46 | - | - | - | - | - | - | - | - |

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 |
| UK Gilt Inflation Linked 0.125% 08/10/2031 | 21.63 | Royaume-Uni | 10.1 | 2.19 |
| US Treasury Inflation Idx Bonds 3.375% 04/15/2032 | 11.39 | Etats-Unis | 9.4 | 1.07 |
| German Inflation Linked Bond 0.5% 04/15/2030 | 8.89 | Allemagne | 8.7 | 0.78 |
| US Treasury Inflation Idx Bonds 3.875% 04/15/2029 | 7.70 | Etats-Unis | 6.9 | 0.53 |
| UK Gilt Inflation Linked 0.125% 03/22/2029 | 6.34 | Royaume-Uni | 7.7 | 0.49 |
| Italy (Republic of) 1.25% 09/15/2032 | 6.00 | Italie | 10.5 | 0.63 |
| US Treasury Inflation Idx Bonds 0.125% 01/15/2031 | 5.72 | Etats-Unis | 9.5 | 0.54 |
| Italy (Republic of) 0.4% 05/15/2030 | 5.24 | Italie | 8.7 | 0.45 |
| France Government Bond OAT 3.15% 07/25/2032 | 4.55 | France | 10.0 | 0.45 |
| US Treasury Inflation Idx Bonds 0.125% 07/15/2030 | 4.42 | Etats-Unis | 9.0 | 0.40 |
| Total (%) | 81.88 |  |  |  |


## Exposition sectorielle (%)	Contribution à la duration par secteur
Portefeuille
Trésor	98.29
Cash	1.71
2.1
1.8
1.5
1.2
0.9
0.6
0.3
0.0
Trésor
Port.	1.9

## Exposition géographique (%)	Contribution à la duration par géographie
Portefeuille
Etats-Unis	32.39
Royaume-Uni	32.05
Italie	11.66
France	11.60
Allemagne	10.59
Cash	1.71
0.7
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0.6
0.5
0.4
0.3
0.2
0.1
Etats-Unis
Royaume-Uni
France
Italie
Allemagne
0.0
Port.	0.6	0.6	0.2	0.2	0.2

## Exposition par Maturité (%)
60
50
40
30
20
10
0	Cash	5-7 ans	7-10 ans	10-20 ans
Portefeuille	1.71	0.27	51.73	46.30

## Exposition par rating (%)
50
40
30
20
10
0	AAA	AA	BBB	Cash
Portefeuille	42.81	43.82	11.66	1.71

## Exposition par devise (%)
40
30
20
10
0	EUR	USD	GBP
Portefeuille	34.44	32.95	32.60