# Performance & Risk
## Performance Evolution (EUR)
USD
341.18
Port.	Bench.
Number of Holdings	51	9278
Turnover: Rolling 1Y (%)	36	-
Active Share (%)	98	-

## Fund Profile
ESG Rating
ESG Relative Rating
CO2 Relative rating
29/06/2018
30/06/2019
30/06/2020
30/06/2021
Portfolio* (23.79%)	Benchmark (37.76%)
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 = 99.2% Benchmark = 83.1% (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 = 94.3% Benchmark = 94.3% (not meaningful for |
| --- | --- |
| coverage below 50%) |
| Risk Analysis |  |  |  |  |  |
|  | 1Y | 3Y | 5Y | Launch |  |
| Portfolio Volatility* (%) | 15.13 | 19.46 | 15.34 | 14.18 |  |
| Benchmark Volatility (%) | 13.29 | 21.10 | 17.09 | 15.19 |  |
| Relative Risk/Tracking Error  (%) | 9.60 | 6.92 | 6.38 | 5.72 |  |
| Sharpe Ratio | 1.98 | 0.50 | 0.79 | 0.94 |  |
| Information Ratio | -1.49 | -0.25 | -0.08 | 0.15 |  |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 30/06/2020 30/06/2021 | 30/06/2019 30/06/2020 | 30/06/2018 30/06/2019 | 30/06/2017 30/06/2018 | 30/06/2016 30/06/2017 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 5.26 | 5.18 | 5.58 | 5.58 | 27.41 | -7.58 | 5.12 | 12.36 | 13.87 | 142.77 |
| Benchmark | 3.56 | 5.25 | 18.71 | 18.71 | 44.30 | -4.69 | 0.17 | 10.72 | 17.27 | 169.69 |
| Excess Return | 1.70 | -0.07 | -13.14 | -13.14 | -16.88 | -2.89 | 4.95 | 1.65 | -3.40 | -26.92 |

Annual Calendar Performance (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 9.77 | 20.07 | -7.58 | 13.67 | 1.93 | 19.28 | 16.56 | - | - | - |
| Benchmark | 6.13 | 26.95 | -10.42 | 8.71 | 14.10 | 10.68 | 15.52 | - | - | - |
| Excess Return | 3.64 | -6.89 | 2.84 | 4.95 | -12.17 | 8.60 | 1.04 | - | - | - |

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 | 3.22 | 0.04 | 3.18 | Information Technology | USA |
| ICON PLC | 3.02 | - | 3.02 | Health Care | USA |
| Edenred | 2.94 | 0.11 | 2.83 | Information Technology | France |
| Quebecor Inc | 2.74 | - | 2.74 | Communication Services | Canada |
| Exponent Inc | 2.69 | 0.04 | 2.65 | Industrials | USA |
| Cerence Inc | 2.54 | 0.03 | 2.51 | Information Technology | USA |
| Badger Meter Inc | 2.52 | 0.02 | 2.50 | Information Technology | USA |
| LivePerson Inc | 2.52 | 0.03 | 2.49 | Information Technology | USA |
| Pool Corp | 2.39 | 0.15 | 2.24 | Consumer Discretionary | USA |
| Zur Rose Group AG | 2.27 | 0.03 | 2.24 | Consumer Staples | Switzerland |
| Total (%) | 26.86 | 0.46 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Gsi Group Inc | 3.22 | 0.04 | 3.18 |  | AMC Entertainment Holdings Inc | 0.00 | 0.23 | -0.23 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ICON PLC | 3.02 | 0.00 | 3.02 |  | Zebra Technologies Corp | 0.00 | 0.23 | -0.23 |
| Edenred | 2.94 | 0.11 | 2.83 |  | Occidental Petroleum Corp | 0.00 | 0.21 | -0.21 |
| Quebecor Inc | 2.74 | 0.00 | 2.74 |  | Etsy Inc | 0.00 | 0.21 | -0.21 |
| Exponent Inc | 2.69 | 0.04 | 2.65 |  | Generac Holdings Inc | 0.00 | 0.21 | -0.21 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-9	-6	-3	0	3	6	9	12	15	18
Information Technology	30.54	14.50
Consumer Discretionary	19.65	13.82
Industrials	15.04	17.27
Financials	8.33	12.10
Health Care	8.15	13.01
Communication Services	6.15	3.59
Consumer Staples	3.06	3.88
Real Estate	2.37	8.35
Materials	2.04	7.52
Not classified	0.00	0.04
Utilities	0.00	2.78
Energy	0.00	3.14
Cash	4.67	0.00

## Geographical Breakdown (%)
Portfolio	Benchmark
USA	50.46	57.62
Japan	9.16	6.17
France	7.07	2.50
Switzerland	3.98	2.64
United Kingdom	3.57	3.98
Australia	3.55	2.24
Netherlands	3.30	1.26
China	3.18	3.01
Germany	3.11	2.49
Canada	2.74	3.00
Italy	2.04	0.66
Spain	1.62	0.53
Other	1.54	13.89
Cash	4.67	0.00

## Active Exposure by Geography (%)
-14	-12	-10	-8	-6	-4	-2	0	2	4	6

## MarketCap Breakdown (%)
32
28
24
20
16
12
8
4
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
0
| Port. | - | 1.54 | 3.55 | 21.86 | 29.33 | 28.99 | 10.06 | - | - | - | 4.67 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Bench. | 1.56 | 4.56 | 9.35 | 28.32 | 17.60 | 23.19 | 15.33 | 0.02 | 0.02 | 0.06 | - |

Translation (ENFR, 2021-06-30):
# Performance et risque
## Evolution de la performance (EUR)
USD
341.18
Indice de réf.
Port.
| YTD +5.58 | 1 an +27.41 | 3 ans +23.79 | 10 ans  Création -  +142.77 |  | Cap. 242.77 | Dis. 125.46 | 100% S&P Global Small Cap Total Return Net |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  | Caractéristiques du portefeuille |
| Performances annualisées du fonds (%)	Actif net du fonds (M) |  |

Nombre de lignes	51 9278 Turnover: Glissant 1an (%)	36	- Active Share (%)	98	-

## Profil du portefeuille
Notation ESG
Notation ESG relative
Intensité relative en CO2
29/06/2018
30/06/2019
30/06/2020
30/06/2021
Portefeuille* (23.79%)	Indice de réference (37.76%)
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* (%) | 15.13 | 19.46 | 15.34 | 14.18 |
| Volatilité de l'indice de référence (%) | 13.29 | 21.10 | 17.09 | 15.19 |
| Risque relatif/Tracking Error  (%) | 9.60 | 6.92 | 6.38 | 5.72 |
| Ratio de Sharpe | 1.98 | 0.50 | 0.79 | 0.94 |
| Ratio d'information | -1.49 | -0.25 | -0.08 | 0.15 |

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 = 99.2% Indice de référence = 83.1% (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 = 94.3% Indice de référence = 94.3% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)

## Performance glissante (%)
|  | 1 mois | 3 mois | 6 mois | YTD | 30/06/2020 30/06/2021 | 30/06/2019 30/06/2020 | 30/06/2018 30/06/2019 | 30/06/2017 30/06/2018 | 30/06/2016 30/06/2017 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 5.26 | 5.18 | 5.58 | 5.58 | 27.41 | -7.58 | 5.12 | 12.36 | 13.87 | 142.77 |
| Indice de réference | 3.56 | 5.25 | 18.71 | 18.71 | 44.30 | -4.69 | 0.17 | 10.72 | 17.27 | 169.69 |
| Ecarts | 1.70 | -0.07 | -13.14 | -13.14 | -16.88 | -2.89 | 4.95 | 1.65 | -3.40 | -26.92 |

Performance calendaire annuelle (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 9.77 | 20.07 | -7.58 | 13.67 | 1.93 | 19.28 | 16.56 | - | - | - |
| Indice de réference | 6.13 | 26.95 | -10.42 | 8.71 | 14.10 | 10.68 | 15.52 | - | - | - |
| Ecarts | 3.64 | -6.89 | 2.84 | 4.95 | -12.17 | 8.60 | 1.04 | - | - | - |

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	3.22 | 0.04 | 3.18 | Technologie | Etats-Unis |
| ICON PLC	3.02 | - | 3.02 | Santé | Etats-Unis |
| Edenred	2.94 | 0.11 | 2.83 | Technologie | France |
| Quebecor Inc	2.74 | - | 2.74 | Services de Communication | Canada |
| Exponent Inc	2.69 | 0.04 | 2.65 | Industrie | Etats-Unis |
| Cerence Inc	2.54 | 0.03 | 2.51 | Technologie | Etats-Unis |
| Badger Meter Inc	2.52 | 0.02 | 2.50 | Technologie | Etats-Unis |
| LivePerson Inc	2.52 | 0.03 | 2.49 | Technologie | Etats-Unis |
| Pool Corp	2.39 | 0.15 | 2.24 | Biens de conso. Cycliques | Etats-Unis |
| Zur Rose Group AG	2.27 | 0.03 | 2.24 | Biens de conso. de base | Suisse |
| Total (%)	26.86 | 0.46 |  |  |  |


## 5 principales surpondérations (%)	5 principales sous-pondérations (%)
Port. Indice Relative de réf.
Port. Indice Relative de réf.
| Gsi Group Inc | 3.22 | 0.04 | 3.18 |  | AMC Entertainment Holdings Inc | 0.00 | 0.23 | -0.23 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ICON PLC | 3.02 | 0.00 | 3.02 |  | Zebra Technologies Corp | 0.00 | 0.23 | -0.23 |
| Edenred | 2.94 | 0.11 | 2.83 |  | Occidental Petroleum Corp | 0.00 | 0.21 | -0.21 |
| Quebecor Inc | 2.74 | 0.00 | 2.74 |  | Etsy Inc | 0.00 | 0.21 | -0.21 |
| Exponent Inc | 2.69 | 0.04 | 2.65 |  | Generac Holdings Inc | 0.00 | 0.21 | -0.21 |


## Exposition sectorielle (%)
Portefeuille	Indice de réference

## Exposition sectorielle active (%)
-9	-6	-3	0	3	6	9	12	15	18
Technologie	30.54	14.50
Biens de conso. Cycliques	19.65	13.82
Industrie	15.04	17.27
Finance	8.33	12.10
Santé	8.15	13.01
Services de Communication	6.15	3.59
Biens de conso. de base	3.06	3.88
Immobilier	2.37	8.35
Matériaux	2.04	7.52
Non Classés	0.00	0.04
Services aux collectivités	0.00	2.78
Energie	0.00	3.14
Monétaire	4.67	0.00

## Exposition géographique (%)
Portefeuille	Indice de réference
Etats-Unis	50.46	57.62
Japon	9.16	6.17
France	7.07	2.50
Suisse	3.98	2.64
Royaume-Uni	3.57	3.98
Australie	3.55	2.24
Pays-Bas	3.30	1.26
Chine	3.18	3.01
Allemagne	3.11	2.49
Canada	2.74	3.00
Italie	2.04	0.66
Espagne	1.62	0.53
Autres	1.54	13.89
Monétaire	4.67	0.00

## Exposition géographique active (%)
-14	-12	-10	-8	-6	-4	-2	0	2	4	6

## Ventilation par capitalisation boursière (%)
32
28
24
20
16
12
8
4
De 0 à 250 mns
d’euros
De 250 à
500 mns d’euros
De 500 mns à
1 md 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
0
| Port. | - | 1.54 | 3.55 | 21.86 | 29.33 | 28.99 | 10.06 | - | - | - | 4.67 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Indice de réf. | 1.56 | 4.56 | 9.35 | 28.32 | 17.60 | 23.19 | 15.33 | 0.02 | 0.02 | 0.06 | - |