# Performance & Risk
## Performance Evolution (EUR)
|  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |

120
110
100
90
80
70
29/11/19
30/05/20
30/11/20
30/05/21
30/11/21
30/05/22 30/11/22
Portfolio* (-6.31%)
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* (%) | 14.40 | 13.79 | 11.41 | 9.76 |
| Sharpe Ratio | -0.90 | -0.01 | 0.16 | 0.25 |
| Rolling Performance (%) |  |  |  |  |
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 30/11/21 30/11/22 | 30/11/20 30/11/21 | 30/11/19 30/11/20 | 30/11/18 30/11/19 | 30/11/17 30/11/18 | Launch |
| Portfolio* | 4.84 | -4.26 | -9.05 | -17.99 | -6.31 | -0.93 | -14.62 | 14.96 | -4.55 | 8.64 | -2.66 | 3.58 |
| Annual Calendar Performance (%) |
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| Portfolio* | 17.83 | -2.66 | 12.79 | -7.25 | 4.10 | -0.15 | 1.60 | - | - | - |

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
| Equity | 63.88 | 62.63 | 62.94 | 62.70 | 65.43 | 59.28 | 57.05 | 59.96 | 58.06 | 56.68 | 51.42 | 52.88 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Bonds | 36.12 | 37.37 | 37.06 | 37.30 | 34.57 | 40.72 | 42.95 | 40.04 | 41.94 | 43.32 | 48.58 | 47.12 |

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
31/10/2022
30/11/2022

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

100
80
60
40
20
| 0 | EUR | USD | SEK | JPY | AUD | SGD | Other |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 99.04 | 0.40 | 0.31 | 0.11 | 0.07 | 0.06 | 0.01 |

| Top 10 Holdings |  |
| --- | --- |
| Equity | Weighting (%)	Sector | Geography |
| Prologis Inc | 6.25	Real Estate | United States |
| Goodman Group | 2.82	Real Estate | Australia |
| Equinix Inc | 2.50	Real Estate | United States |
| AvalonBay Communities Inc | 2.24	Real Estate | United States |
| Alexandria Real Estate Equi... | 2.05	Real Estate | United States |
| American Homes 4 Rent | 2.00	Real Estate | United States |
| Capitaland Investment Ltd | 1.99	Real Estate | Singapore |
| CapitaLand Integrated Comme... | 1.85	Real Estate | Singapore |
| Link REIT | 1.76	Real Estate | Hong Kong |
| Mitsui Fudosan Co Ltd | 1.69	Real Estate | Japan |
| Total (%) | 25.16 |  |
| Sector Breakdown (%) |  |  |
|  |  | Portfolio |
| Real estate |  | 100.00 |
| Fixed Income Top 10 Holdings |  |  |
| Name | Weighting (%)	Issuer country | Mod. Duration	Contribution |
| EURO-BUND FUTURE DEC22 Counter Expo | 6.96	Germany | 0.0	0.00 |
| US 10YR NOTE (CBT)MAR23 Counter Expo | 2.25	United States | 0.0	0.00 |
| Sun Hung Kai Properties 2.875% 01/21/2030 | 1.46	Hong Kong | 6.2	0.09 |
| Fonciere des Murs SCA 1% 07/27/2029 | 1.05	France | 5.9	0.06 |
| Segro Capital Sarl 0.5% 09/22/2031 | 1.04	United Kingdom | 8.0	0.08 |
| Nerval SAS 2.875% 04/14/2032 | 1.01	France | 7.5	0.08 |
| Inmobiliaria Colonial SA 0.75% 06/22/2029 | 1.01	Spain | 5.9	0.06 |
| Cofinimmo SA 0.875% 12/02/2030 | 1.00	Belgium | 7.1	0.07 |
| UDR Inc 4.4% 01/26/2029 | 0.98	United States | 5.0	0.05 |
| Sagax AB 2.25% 03/13/2025 | 0.97	Sweden | 1.9	0.02 |
| Total (%) | 17.75 |  |


## Maturity Breakdown (%)
40
30
20
10
0	0 - 1 Year	1 - 3 years	3 - 5 years	5 - 7 years	7 - 10 years	10 - 15 years
Portfolio	1.62	7.70	34.55	27.18	28.67	0.27

Translation (ENFR, 2022-11-30):
# Performance et risque
## Evolution de la performance (EUR)
|  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |

120
110
100
90
80
70
29/11/19
30/05/20
30/11/20
30/05/21
30/11/21
30/05/22 30/11/22
Portefeuille* (-6.31%)
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* (%) | 14.40 | 13.79 | 11.41 | 9.76 |
| Ratio de Sharpe | -0.90 | -0.01 | 0.16 | 0.25 |
| Performance glissante (%) |  |  |  |  |

30/11/22
1 mois	3 mois	6 mois	YTD	3 ans	5 ans	30/11/21
30/11/20
30/11/21
30/11/19
30/11/20
30/11/18
30/11/19
30/11/17
30/11/18
Création
Portefeuille*	4.84	-4.26	-9.05	-17.99	-6.31	-0.93	-14.62	14.96	-4.55	8.64	-2.66	3.58

## Performance calendaire annuelle (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 17.83 | -2.66 | 12.79 | -7.25 | 4.10 | -0.15 | 1.60 | - | - | - |

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 | 63.88 | 62.63 | 62.94 | 62.70 | 65.43 | 59.28 | 57.05 | 59.96 | 58.06 | 56.68 | 51.42 | 52.88 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Obligations | 36.12 | 37.37 | 37.06 | 37.30 | 34.57 | 40.72 | 42.95 | 40.04 | 41.94 | 43.32 | 48.58 | 47.12 |

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
31/10/2022
30/11/2022

## Exposition par devise (%)
120
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |

100
80
60
40
20
| 0 | EUR | USD | SEK | JPY | AUD | SGD | Autres |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille | 99.04 | 0.40 | 0.31 | 0.11 | 0.07 | 0.06 | 0.01 |

| 10 principaux titres |  |
| --- | --- |
| Action | Pondération (%) | Secteur | Géographie |  |
| Prologis Inc | 6.25 | Immobilier | Etats-Unis |  |
| Goodman Group | 2.82 | Immobilier | Australie |  |
| Equinix Inc | 2.50 | Immobilier | Etats-Unis |  |
| AvalonBay Communities Inc | 2.24 | Immobilier | Etats-Unis |  |
| Alexandria Real Estate Equi... | 2.05 | Immobilier | Etats-Unis |  |
| American Homes 4 Rent | 2.00 | Immobilier | Etats-Unis |  |
| Capitaland Investment Ltd | 1.99 | Immobilier | Singapour |  |
| CapitaLand Integrated Comme... | 1.85 | Immobilier | Singapour |  |
| Link REIT | 1.76 | Immobilier | Hong-Kong |  |
| Mitsui Fudosan Co Ltd | 1.69 | Immobilier | Japon |  |
| Total (%) | 25.16 |  |  |  |
| Exposition sectorielle (%) |  |  |  |  |
|  |  |  |  | Portefeuille |
| Immobilier |  |  |  | 100.00 |
| Obligations 10 principaux titres |  |  |  |  |
| Libellé | Pondération (%) | Pays émetteur | Mod. Duration | Contribution |
| EURO-BUND FUTURE DEC22 Counter Expo | 6.96 | Allemagne | 0.0 | 0.00 |
| US 10YR NOTE (CBT)MAR23 Counter Expo | 2.25 | Etats-Unis | 0.0 | 0.00 |
| Sun Hung Kai Properties 2.875% 01/21/2030 | 1.46 | Hong-Kong | 6.2 | 0.09 |
| Fonciere des Murs SCA 1% 07/27/2029 | 1.05 | France | 5.9 | 0.06 |
| Segro Capital Sarl 0.5% 09/22/2031 | 1.04 | Royaume-Uni | 8.0 | 0.08 |
| Nerval SAS 2.875% 04/14/2032 | 1.01 | France | 7.5 | 0.08 |
| Inmobiliaria Colonial SA 0.75% 06/22/2029 | 1.01 | Espagne | 5.9 | 0.06 |
| Cofinimmo SA 0.875% 12/02/2030 | 1.00 | Belgique | 7.1 | 0.07 |
| UDR Inc 4.4% 01/26/2029 | 0.98 | Etats-Unis | 5.0 | 0.05 |
| Sagax AB 2.25% 03/13/2025 | 0.97 | Suède | 1.9 | 0.02 |
| Total (%) | 17.75 |  |  |  |


## Exposition par maturité (%)
40
30
20
10
0	0 à 1 an	1 - 3 ans	3 - 5 ans	5 - 7 ans	7 - 10 ans	10 - 15 ans
Portefeuille	1.62	7.70	34.55	27.18	28.67	0.27