# Performance & Risk
## Performance Evolution (USD)
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240
210
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150
120
90
60

## Fund Profile
ESG Rating
ESG Relative Rating
CO2 Relative rating
28/02/19	28/08/19	28/02/20	28/08/20	28/02/21	28/08/21 28/02/22
Portfolio* (65.80%)	Benchmark (45.88%)
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
% of AUM covered by ESG absolute rating: Portfolio = 94.8% Benchmark = 99.9% (not meaningful for coverage below 50%)
% of AUM covered by CO2 intensity indicator: Portfolio
= 94.8% Benchmark = 99.3% (not meaningful for
| basis of net or gross dividend. Please refer to the Risk Analysis | prospectus for more | information. |  |  | coverage below 50%) |
| --- | --- | --- | --- | --- | --- |
|  | 1Y | 3Y | 5Y | Launch |  |
| Portfolio Volatility* (%) | 18.78 | 20.10 | - | 20.03 |  |
| Benchmark Volatility (%) | 12.06 | 17.26 | - | 16.27 |  |
| Relative Risk/Tracking Error  (%) | 12.28 | 9.97 | - | 10.56 |  |
| Sharpe Ratio | -0.26 | 0.92 | - | 0.92 |  |
| Information Ratio | -1.03 | 0.61 | - | 0.93 |  |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 28/02/21 28/02/22 | 28/02/20 28/02/21 | 28/02/19 29/02/20 | 28/02/18 28/02/19 | 28/02/17 28/02/18 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -5.46 | -13.51 | -17.50 | -14.52 | 65.80 | - | -5.92 | 59.12 | 10.75 | 10.74 | - | 111.06 |
| Benchmark | -2.58 | -3.66 | -5.26 | -7.37 | 45.88 | - | 7.81 | 30.25 | 3.89 | -0.84 | - | 52.10 |
| Excess Return | -2.88 | -9.85 | -12.24 | -7.15 | 19.92 | - | -13.72 | 28.87 | 6.86 | 11.59 | - | 58.96 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 12.76 | 52.99 | 32.33 | 4.44 | - | - | - | - | - | - |
| Benchmark | 18.54 | 16.25 | 26.60 | -9.41 | - | - | - | - | - | - |
| Excess Return | -5.78 | 36.73 | 5.73 | 13.86 | - | - | - | - | - | - |

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 |  |  |
| Visa Inc | 3.74 | 0.56 | 3.18 | Information Technology | USA |
| Alphabet Inc | 3.67 | 2.45 | 1.23 | Communication Services | USA |
| Microsoft Corp | 3.56 | 3.28 | 0.27 | Information Technology | USA |
| Prologis Inc | 3.42 | 0.17 | 3.26 | Real Estate | USA |
| Amazon.com Inc | 3.40 | 2.15 | 1.25 | Consumer Discretionary | USA |
| Apple Inc | 3.38 | 4.20 | -0.82 | Information Technology | USA |
| Zendesk Inc | 3.22 | 0.02 | 3.20 | Information Technology | USA |
| salesforce.com inc | 3.16 | 0.32 | 2.85 | Information Technology | USA |
| Goodman Group | 3.16 | 0.04 | 3.12 | Real Estate | Australia |
| Accenture PLC | 2.85 | 0.31 | 2.54 | Information Technology | USA |
| Total (%) | 33.57 | 13.50 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Prologis Inc | 3.42 | 0.17 | 3.26 |  | Tesla Inc | 0.00 | 1.13 | -1.13 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Zendesk Inc | 3.22 | 0.02 | 3.20 |  | NVIDIA Corp | 0.00 | 0.94 | -0.94 |
| Visa Inc | 3.74 | 0.56 | 3.18 |  | Apple Inc | 3.38 | 4.20 | -0.82 |
| Goodman Group | 3.16 | 0.04 | 3.12 |  | Taiwan Semiconductor Manufacturi... | 0.00 | 0.82 | -0.82 |
| salesforce.com inc | 3.16 | 0.32 | 2.85 |  | UnitedHealth Group Inc | 0.00 | 0.69 | -0.69 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)

#### -20	-10	0	10	20	30	40
Information Technology	53.75	22.34
Communication Services	15.59	8.28
Real Estate	10.14	2.64
Consumer Discretionary	7.78	11.73
Industrials	6.30	9.57
Health Care	2.78	11.59
Consumer Staples	1.09	7.09
Not classified	0.00	0.00
Utilities	0.00	2.79
Materials	0.00	4.96
Financials	0.00	14.80
Energy	0.00	4.22
Cash	2.55	0.00

## Securities Exposure by geographical area (%)
Portfolio	Benchmark
USA	78.23	60.61
United Kingdom	6.06	3.83
Germany	3.35	2.11
Australia	3.16	1.84
China	2.14	3.66
France	1.67	2.85
Sweden	1.27	0.87
Argentina	0.84	0.00
Israel	0.73	0.18
South Africa	0.00	0.43
Taiwan	0.00	1.86
Turkey	0.00	0.03
Other	0.00	21.74
Cash	2.55	0.00

## Active Exposure by Geography (%)

#### -25	-20	-15	-10	-5	0	5	10	15	20
MarketCap Breakdown (USD - %)
36
33
30
27
24
21
18
15
12
9
6
3
0	0 To
250mn
1bn To 3bn
3bn To 5bn
5bn To 10bn
10bn To 25bn
25bn To 100bn
100bn To 250bn
More Than 250bn
Cash
Port.	-	1.39	2.44	10.82	12.04	30.91	16.95	22.90	2.55
Bench.	0.01	0.20	0.94	4.57	13.93	32.20	20.47	27.68	-

Translation (ENFR, 2022-02-28):
# Performance et risque
## Evolution de la performance (USD)
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240
210
180
150
120
90
60
Valeur liquidative
Cap.

### 211.06
Actif net du fonds (M)
USD

### 1 375.00
Depuis le: 24/10/2017
100% MSCI AC World Total Return Net
Port.

## Caractéristiques du portefeuille
Indice de réf.
Nombre de lignes	58 2959 Turnover: Glissant 1an (%)	19	- Active Share (%)	84	-

## Profil du portefeuille
Notation ESG
Notation ESG relative
Intensité relative en CO2
28/02/19
28/08/19
28/02/20
28/08/20
28/02/21
28/08/21 28/02/22
Portefeuille* (65.80%)	Indice de réference (45.88%)
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* (%) | 18.78 | 20.10 | - | 20.03 |
| Volatilité de l'indice de référence (%) | 12.06 | 17.26 | - | 16.27 |
| Risque relatif/Tracking Error  (%) | 12.28 | 9.97 | - | 10.56 |
| Ratio de Sharpe | -0.26 | 0.92 | - | 0.92 |
| Ratio d'information | -1.03 | 0.61 | - | 0.93 |

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 = 94.8% Indice de référence = 99.9% (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 = 94.8% Indice de référence = 99.3% (n'est pas significatif lorsque le taux de couverture est inférieur à 50%)

## Performance glissante (%)
|  | 1 mois | 3 mois | 6 mois | YTD | 3 ans | 5 ans | 28/02/21 28/02/22 | 28/02/20 28/02/21 | 28/02/19 29/02/20 | 28/02/18 28/02/19 | 28/02/17 28/02/18 | Création |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | -5.46 | -13.51 | -17.50 | -14.52 | 65.80 | - | -5.92 | 59.12 | 10.75 | 10.74 | - | 111.06 |
| Indice de réference | -2.58 | -3.66 | -5.26 | -7.37 | 45.88 | - | 7.81 | 30.25 | 3.89 | -0.84 | - | 52.10 |
| Ecarts | -2.88 | -9.85 | -12.24 | -7.15 | 19.92 | - | -13.72 | 28.87 | 6.86 | 11.59 | - | 58.96 |

Performance calendaire annuelle (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille* | 12.76 | 52.99 | 32.33 | 4.44 | - | - | - | - | - | - |
| Indice de réference | 18.54 | 16.25 | 26.60 | -9.41 | - | - | - | - | - | - |
| Ecarts | -5.78 | 36.73 | 5.73 | 13.86 | - | - | - | - | - | - |

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 |  |  |
| Visa Inc	3.74 | 0.56 | 3.18 | Technologie | Etats-Unis |
| Alphabet Inc	3.67 | 2.45 | 1.23 | Services de Communication | Etats-Unis |
| Microsoft Corp	3.56 | 3.28 | 0.27 | Technologie | Etats-Unis |
| Prologis Inc	3.42 | 0.17 | 3.26 | Immobilier | Etats-Unis |
| Amazon.com Inc	3.40 | 2.15 | 1.25 | Biens de conso. Cycliques | Etats-Unis |
| Apple Inc	3.38 | 4.20 | -0.82 | Technologie | Etats-Unis |
| Zendesk Inc	3.22 | 0.02 | 3.20 | Technologie | Etats-Unis |
| salesforce.com inc	3.16 | 0.32 | 2.85 | Technologie | Etats-Unis |
| Goodman Group	3.16 | 0.04 | 3.12 | Immobilier | Australie |
| Accenture PLC	2.85 | 0.31 | 2.54 | Technologie | Etats-Unis |
| Total (%)	33.57 | 13.50 |  |  |  |


## 5 principales surpondérations (%)	5 principales sous-pondérations (%)
Port. Indice Relative de réf.
Port. Indice Relative de réf.
| Prologis Inc | 3.42 | 0.17 | 3.26 |  | Tesla Inc | 0.00 | 1.13 | -1.13 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Zendesk Inc | 3.22 | 0.02 | 3.20 |  | NVIDIA Corp | 0.00 | 0.94 | -0.94 |
| Visa Inc | 3.74 | 0.56 | 3.18 |  | Apple Inc | 3.38 | 4.20 | -0.82 |
| Goodman Group | 3.16 | 0.04 | 3.12 |  | Taiwan Semiconductor Manufacturi... | 0.00 | 0.82 | -0.82 |
| salesforce.com inc | 3.16 | 0.32 | 2.85 |  | UnitedHealth Group Inc | 0.00 | 0.69 | -0.69 |


## Exposition sectorielle (%)
Portefeuille	Indice de réference

## Exposition sectorielle active (%)
-20	-10	0	10	20	30	40
Technologie	53.75	22.34
Services de Communication	15.59	8.28
Immobilier	10.14	2.64
Biens de conso. Cycliques	7.78	11.73
Industrie	6.30	9.57
Santé	2.78	11.59
Biens de conso. de base	1.09	7.09
Non Classés	0.00	0.00
Services aux collectivités	0.00	2.79
Matériaux	0.00	4.96
Finance	0.00	14.80
Energie	0.00	4.22
Monétaire	2.55	0.00

## Exposition Actions par zone géographique (%)
Portefeuille	Indice de réference
Etats-Unis	78.23	60.61
Royaume-Uni	6.06	3.83
Allemagne	3.35	2.11
Australie	3.16	1.84
Chine	2.14	3.66
France	1.67	2.85
Suède	1.27	0.87
Argentine	0.84	0.00
Israel	0.73	0.18
Afrique du Sud	0.00	0.43
Taiwan	0.00	1.86
Turquie	0.00	0.03
Autres	0.00	21.74
Monétaire	2.55	0.00

## Exposition régionale active (%)
-25	-20	-15	-10	-5	0	5	10	15	20

## Ventilation par capitalisation boursière (USD - %)
36
33
30
27
24
21
18
15
12
9
6
3
0	De 0 à
250 mns
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
Monétaire
Port.	-	1.39	2.44	10.82	12.04	30.91	16.95	22.90	2.55
Indice de réf.	0.01	0.20	0.94	4.57	13.93	32.20	20.47	27.68	-