# Performance & Risk
## Performance Evolution (EUR)
|  | Record Date | Ex-Date | Dividend per Share | 12 month Yield (%) |
| --- | --- | --- | --- | --- |
| Dec 2016 | 29/12/2016 | 30/12/2016 | 0.47 | 1.30 |
| Dec 2017 | 28/12/2017 | 29/12/2017 | 0.12 | 0.09 |
| Dec 2018 | 27/12/2018 | 28/12/2018 | 0.13 | 0.10 |
| Dec 2019 | 27/12/2019 | 30/12/2019 | 0.19 | 0.14 |

% of AUM covered by ESG absolute rating: Portfolio = 92.9% (not meaningful for coverage below 50%)
|  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |

110
108
106
104
102
100
98
28/09/18
30/03/19
30/09/19
30/03/20
30/09/20
30/03/21 30/09/21
Portfolio* (7.18%)
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* (%) | 1.53 | 3.35 | 2.95 | 3.40 |
| Sharpe Ratio | 1.28 | 1.07 | 0.67 | 1.07 |
| Rolling Performance (%) |  |  |  |  |
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 30/09/20 30/09/21 | 30/09/19 30/09/20 | 30/09/18 30/09/19 | 30/09/17 30/09/18 | 30/09/16 30/09/17 | Launch |
| Portfolio* | -0.17 | 0.36 | 0.15 | -0.54 | 7.18 | 3.74 | 0.64 | -0.07 | 6.57 | -2.55 | -0.68 | 72.10 |
| Annual Calendar Performance (%) |
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Portfolio* | 2.49 | 4.59 | -2.08 | 0.59 | 2.30 | 0.26 | 9.78 | 2.38 | 10.71 | 4.08 |

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 |
| Italy (Republic of) 3.5% 03/01/2030 | 11.09 | Italy | 7.4 | 0.82 |
| France Government Bond OAT 0.25% 07/25/2024 | 9.15 | France | 2.9 | 0.26 |
| Spain Government Bond 1.95% 07/30/2030 | 4.82 | Spain | 8.2 | 0.39 |
| Philippines (Republic of) 0.25% 04/28/2025 | 3.61 | Philippines | 3.5 | 0.13 |
| Romania (Republic of) 2.375% 04/19/2027 | 2.63 | Romania | 5.2 | 0.14 |
| Mexican (Republic of) 1.75% 04/17/2028 | 2.53 | Mexico | 6.1 | 0.16 |
| Indonesia (Republic of) 3.75% 06/14/2028 | 2.14 | Indonesia | 6.0 | 0.13 |
| ADIF Alta Velocidad 0.95% 04/30/2027 | 1.90 | Spain | 5.4 | 0.10 |
| NRW Bank 0.125% 04/12/2027 | 1.82 | Germany | 5.5 | 0.10 |
| Banco Bilbao Vizcaya Argentaria 0.5% 01/14/2027 | 1.81 | Spain | 5.2 | 0.09 |
| Total (%) | 41.51 |  |  |  |

| Sector Breakdown (%) |  |
| --- | --- |
|  | Portfolio |
| Sovereign | 26.17 |
| Financial | 24.96 |
| Quasi & Foreign Gvt | 24.14 |
| Industrials | 17.93 |
| Utility | 3.70 |
| Cash | 3.10 |


## Contribution to duration by sector
2
1
0
-1
Quasi &
Foreign Gvt
Financial
Industrials
Utility
Sovereign
-2
Port.	1.6	1.4	0.7	0.1	-1.7

## Geographical Breakdown (%)	Contribution to Duration by Geography
Portfolio
| France | 25.34 |
| --- | --- |
| Italy | 17.89 |
| Spain | 16.81 |
| Germany | 9.02 |
| China | 4.07 |
| Philippines | 3.61 |

1.2
0.9
0.6
0.3
0.0
-0.3
-0.6
Spain
Italy
Portugal
China
Mexico
Hungary
Romania
Indonesia
Philippines
Other
| Romania | 2.63 |  |
| --- | --- | --- |
| Mexico | 2.53 |
| Indonesia | 2.14 |  | Port. | 0.9 | 0.8	0.3 | 0.2 | 0.2	0.2	0.1 | 0.1 | 0.1  -0.8 |
| United States | 2.12 |  |
| Other | 10.73 |
| Cash | 3.10 |
| Maturity Breakdown (%) |  |

-0.9
35
30
25
20
15
10
5
0	Cash	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 years
Portfolio	3.10	16.34	12.86	29.58	32.32	2.45	3.35

## Rating Breakdown (%)
70
60
50
40
30
20
10
0	AA	A	BBB	BB	Cash
Portfolio	14.55	11.41	60.98	9.96	3.10

## Currency Breakdown (%)
120
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |

100
80
60
40
20
0
EUR
Portfolio	100.00

Translation (ENFR, 2021-09-30):
# Caractéristiques du risque
Horizon d’investissement recommandé : Ce Compartiment peut ne pas être adapté aux investisseurs qui envisagent de retirer leur capital avant 5 ans.
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |