# Performance evolution (in USD)
Current NAV (A)	37.51
12 month NAV price High	37.71
12 month NAV price Low	31.16
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120
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100
96
| 31/08/17 | 31/10/17 | 31/12/17 | 28/02/18 | 30/04/18 | 30/06/18 | 31/08/18 |
| --- | --- | --- | --- | --- | --- | --- |
|  |  | Portfolio* (19.57%) |  | Performance Indicator** (18.98%) |  |  |
| Data is rebased to 100 by AXA IM on the graph start date. |  |  |  |  |  |  |  |  |
| Cumulative performance |  |  |  |  |  |  |  |  |
|  | 1 M. | 3 M. | YTD | 1 Y. | 3 Y. | 5 Y. | 8 Y. | Launch |
| Portfolio* | 3.36% | 7.05% | 9.61% | 19.57% | 49.80% | 81.82% | 204.71% | 280.04% |
| Performance Indicator** | 3.19% | 7.61% | 9.51% | 18.98% | 53.66% | 91.00% | 210.95% | 304.45% |
| Annualized performance |  |  |  |  |  |  |  |  |
|  |  |  |  | 1 Y. | 3 Y. | 5 Y. | 8 Y. | Launch |
| Portfolio* |  |  |  | 19.57% | 14.41% | 12.69% | 14.93% | 14.90% |
| Performance Indicator** |  |  |  | 18.98% | 15.38% | 13.80% | 15.22% | 15.65% |
| Annual performance |  |  |  |  |  |  |  |  |
|  |  | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Portfolio* |  | 20.20% | 9.67% | -1.70% | 11.95% | 34.42% | 15.23% | 3.04% |
| Performance Indicator** |  | 21.10% | 11.23% | 0.75% | 12.99% | 31.55% | 15.22% | 1.47% |
| Rolling annual performance |  |  |  |  |  |  |  |  |
|  | 31 Aug 17 | 31 Aug 16 | 31 Aug 15 | 31 Aug 14	31 Aug 13	31 | Aug 12 |
|  | 31 Aug 18 | 31 Aug 17 | 31 Aug 16 | 31 Aug 15	31 Aug 14	31 | Aug 13 |
| Portfolio* | 19.57% | 13.29% | 10.58% | -2.72% | 24.77% | 19.32% |
| Performance Indicator** | 18.98% | 15.51% | 11.80% | -0.14% | 24.47% | 17.92% |
| The figures provided relate to previous months or years and past performance is not a reliable indicator as to future performance. |  |  |  |
| Risk Analysis |  |  |  |
|  |  |  |  |
| 1 Y. | 3 Y. | 5 Y. | Launch |
| Annualized volatility |  |  |  |
| Portfolio*	10.38% | 9.26% | 9.55% | 13.10% |
| Performance Indicator**	10.12% | 9.43% | 9.58% | 13.17% |
| Relative risk ('tracking error')	1.10% | 1.00% | 0.97% | 1.23% |
| Sharpe ratio	1.81 | 1.54 | 1.35 | 1.17 |
| Information ratio	1.49 | 0.02 | -0.13 | 0.19 |
| Alpha	0.0196% | 0.0291% | -0.0007% | 0.0255% |
| Beta | 1.0201 | 0.9766	0.9919	0.9907 |
| * 1st NAV date: 22/01/2009 |  |  |
| ** Performance indicator : Please refer to the Benchmark section in the characteristics/disclaimers part of the document. Source(s): AXA Investment Managers - GICS as at 31/08/2018 Editor: AXA Investment Managers Paris |  |  |

Translation (ENES, 2018-08-31):
# Evolución de la rentabilidad (en USD)
Valor liquidativo (C)	37.51
Valor máximo en 12 meses	37.71
Valor mínimo en 12 meses	31.16
124
120
116
112
108
104
100
96
| 31/08/17 | 31/10/17 | 31/12/17 | 28/02/18 | 30/04/18 | 30/06/18 | 31/08/18 |
| --- | --- | --- | --- | --- | --- | --- |
|  |  | Cartera* (19.57%) |  | Indicador de rentabilidad** (18.98%) |  |  |

Datos ajustados a base 100 por AXA IM en la fecha de inicio del gráfico.
| Rentabilidad acumulada |  |
| --- | --- |
|  | 1 M. | 3 M. | YTD | 1 A. | 3 A. | 5 A. | 8 A. | Inicio |
| Cartera* | 3.36% | 7.05% | 9.61% | 19.57% | 49.80% | 81.82% | 204.71% | 280.04% |
| Indicador de rentabilidad** | 3.19% | 7.61% | 9.51% | 18.98% | 53.66% | 91.00% | 210.95% | 304.45% |
| Rentabilidad anualizada |  |  |  |  |  |  |  |  |
|  |  |  |  | 1 A. | 3 A. | 5 A. | 8 A. | Inicio |
| Cartera* |  |  |  | 19.57% | 14.41% | 12.69% | 14.93% | 14.90% |
| Indicador de rentabilidad** |  |  |  | 18.98% | 15.38% | 13.80% | 15.22% | 15.65% |
| Rentabilidad anual |  |  |  |  |  |  |  |  |
|  |  | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Cartera* |  | 20.20% | 9.67% | -1.70% | 11.95% | 34.42% | 15.23% | 3.04% |
| Indicador de rentabilidad** |  | 21.10% | 11.23% | 0.75% | 12.99% | 31.55% | 15.22% | 1.47% |
| Rentabilidad año sobre año |  |  |  |  |  |  |  |  |
|  | 31 Ago 17 | 31 Ago 16 | 31 Ago 15 | 31 Ago 14 | 31 Ago 13 | 31 Ago 12 |
|  | 31 Ago 18 | 31 Ago 17 | 31 Ago 16 | 31 Ago 15 | 31 Ago 14 | 31 Ago 13 |
| Cartera* | 19.57% | 13.29% | 10.58% | -2.72% | 24.77% | 19.32% |
| Indicador de rentabilidad** | 18.98% | 15.51% | 11.80% | -0.14% | 24.47% | 17.92% |

Las cifras proporcionadas relacionadas a meses o años anteriores y a rentabilidades pasadas no suponen un indicador fiable de las rentabilidad futura.
| Análisis del riesgo |  |
| --- | --- |
|  |  |  |  |  |
|  | 1 A. | 3 A. | 5 A. | Inicio |
| Volatilidad anualizada |  |  |  |  |
| Cartera* | 10.38% | 9.26% | 9.55% | 13.10% |
| Indicador de rentabilidad** | 10.12% | 9.43% | 9.58% | 13.17% |
| Riesgo relativo (' tracking error ') | 1.10% | 1.00% | 0.97% | 1.23% |
| Ratio de Sharpe | 1.81 | 1.54 | 1.35 | 1.17 |
| Ratio de información | 1.49 | 0.02 | -0.13 | 0.19 |
| Alpha | 0.0196% | 0.0291% | -0.0007% | 0.0255% |
| Beta | 1.0201 | 0.9766	0.9919	0.9907 |
| * Fecha del primer VL: 22/01/2009 |  |  |
| ** Indicador de rentabilidad : Consulte por favor la sección del Indicador de rentabilidad, en la parte del documento de características/aviso legal Fuente(s) : AXA Investment Managers - GICS a 31/08/2018 Redactor: AXA Investment Managers Paris. |  |  |