# Returns
## Performance evolution (rebased to 100) from 30/09/2016 to 30/09/2021*
115

## Risk analysis (rolling)

### 1 year	3 years	5 years
110
105
100

### Portfolio volatility	4.72%  5.12%   4.28%

### Volatility is a statistical indicator that measures an asset’s variations around its average value. For example, market variations of +/- 1.5% per day correspond to a volatility of 25% per year.

## Sub-Fund Statistics

### Portfolio
95	

### Modified Duration0.72

### Number of Lines1554
90	

### Modified duration (in points) estimates a bond portfolio’s
09/16
03/17
09/17
03/18
09/18
03/19
09/19
03/20
09/20
03/21
09/21

### percentage price change for 1% change in yield

### Portfolio (106.93)	Comparative Index (97.97)
| Cumulative Returns * |  |
| --- | --- |
|  | YTD | 1 month | 3 months | 1 year | 3 years | 5 years | Since |
| Since | 31/12/2020 | 31/08/2021 | 30/06/2021 | 30/09/2020 | 28/09/2018 | 30/09/2016 | 12/12/2008 |
| Portfolio | 0.54% | -0.57% | 0.00% | 5.54% | 7.00% | 6.93% | 34.42% |
| Comparative Index | -0.36% | -0.04% | -0.12% | -0.48% | -1.32% | -2.03% | 0.20% |
| Comparative Spread | 0.91% | -0.53% | 0.12% | 6.02% | 8.32% | 8.96% | 34.22% |


## Calendar year performance *
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 5.12% | 3.08% | -3.67% | 1.47% | 1.81% | 2.12% | 3.84% | 3.12% | 5.11% | -6.02% |
| Comparative Index | -0.47% | -0.40% | -0.37% | -0.36% | -0.32% | -0.11% | 0.10% | 0.09% | 0.24% | 0.88% |
| Comparative Spread | 5.59% | 3.48% | -3.30% | 1.82% | 2.13% | 2.23% | 3.74% | 3.03% | 4.87% | -6.90% |


### * Source : Amundi. The above results pertain to full 12-month period per calendar year. All performances are calculated net income reinvested and net of all charges taken by the Sub-Fund and expressed with the round-off superior. Past performance is not a reliable indicator of future performance. The value of investments may vary upwards or downwards according to market conditions.
| Main Lines in Portfolio |  |
| --- | --- |
|  | Portfolio * |
| ICTZ 09/22 | 3.89% |
| BTPS % 04/24 | 2.74% |
| ICTZ 05/22 | 2.46% |
| LYXOR TH-REUTERS CORE COMMO(ITA) | 2.37% |
| BTPS 0.95% 03/37 | 1.71% |
| NORWAY 1.75% 3/25 | 1.41% |
| OAT % 11/30 | 1.36% |
| DBRI IE 0.1% 4/26 | 1.31% |
| NZGB 3% 04/29 0429 | 0.96% |
| JGBI 0.1% 3/27 | 0.89% |


### * The main lines in portfolio are presented except money market

Translation (ENIT, 2021-09-30):
# Performance
## Evoluzione della performance (base 100) * dal 30/09/2016 al 30/09/2021
115

## Indicatore(i) rolling

### 1 anno	3 anni	5 anni

### Volatilità	4,72%	5,12%	4,28%
110	

### La volatilità è un indicatore statistico che misura l’ampiezza

### delle variazioni di un portafoglio rispetto alla sua media. Esempio: variazioni giornaliere di +/- 1,5% sui mercati
105	

### corrispondono ad una volatilità annua del 25%.
100

## Indicatori

### Portafoglio
95	

### Modified Duration	0,72

### Numero titoli1554
90	

### La Modified Duration (in punti) rappresenta la variazione
09/16
03/17
09/17
03/18
09/18
03/19
09/19
03/20
09/20
03/21
09/21

### percentuale del prezzo a fronte di un’evoluzione dell’1% del tasso di riferimento.

# *

### Portafoglio (106,93)	Indice comparativo (97,97)

## Principali strumenti

### Lordo *

### Da inizio anno	1 mese	3 mesi	1 anno	3 anni	5 anni	Da inizio gestione

### A partire dal	31/12/2020  31/08/2021 30/06/2021 30/09/2020 28/09/2018 30/09/2016   12/12/2008
| Portafoglio | 0,54% | -0,57% | 0,00% | 5,54% | 7,00% | 6,93% | 34,42% |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Indice comparativo | -0,36% | -0,04% | -0,12% | -0,48% | -1,32% | -2,03% | 0,20% |
| Scostamento | 0,91% | -0,53% | 0,12% | 6,02% | 8,32% | 8,96% | 34,22% |

| Performance annuale * |  |
| --- | --- |
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Portafoglio | 5,12% | 3,08% | -3,67% | 1,47% | 1,81% | 2,12% | 3,84% | 3,12% | 5,11% | -6,02% |
| Indice comparativo | -0,47% | -0,40% | -0,37% | -0,36% | -0,32% | -0,11% | 0,10% | 0,09% | 0,24% | 0,88% |
| Scostamento | 5,59% | 3,48% | -3,30% | 1,82% | 2,13% | 2,23% | 3,74% | 3,03% | 4,87% | -6,90% |

* Le performance (cumulate) sono al lordo degli oneri fiscali e al netto di costi/commissioni. Le performance riportate si riferiscono a periodi completi di 12 mesi per ciascun anno civile. Le performance passate non sono indicative delle performance future. Il valore degli investimenti può variare al rialzo o al ribasso in base all'evoluzione dei mercati.

### ICTZ 09/22	3,89%

### BTPS % 04/24	2,74%

### ICTZ 05/22	2,46%

### LYXOR TH-REUTERS CORE COMMO(ITA)	2,37% BTPS 0.95% 03/37	1,71%

### NORWAY 1.75% 3/25	1,41%

### OAT % 11/30	1,36%

### DBRI IE 0.1% 4/26	1,31%

### NZGB 3% 04/29 0429	0,96%

### JGBI 0.1% 3/27	0,89%

### * Le principali posizioni del portafoglio sono presentate escludendo gli strumenti del mercato monetario