# Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -1.51 | 7.37 | 9.57 | -1.07 | 3.56 | 3.47 | 0.41 | 4.07 | 0.02 | 8.87 |
| Benchmark | -1.00 | 7.47 | 10.14 | -0.23 | 3.92 | 4.17 | 0.95 | 4.35 | 0.08 | 8.84 |
| Excess Return | -0.52 | -0.10 | -0.57 | -0.84 | -0.36 | -0.70 | -0.54 | -0.27 | -0.06 | 0.03 |

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 |  |
| --- | --- |
| Fund Key Metrics |
|  | Portfolio | Benchmark |  |  | Portfolio | Benchmark |
| Cash (%) | 2.41 | - |  | Option Adjusted Spread | 123 | 119 |
| Number of Holdings | 230 | 4562 |  | Average Coupon (%) | 3.41 | 3.35 |
| Number of Issuers | 160 | 700 |  | Current yield (%) | 3.58 | 3.63 |
| Years to Maturity | 4.72 | 4.84 |  | Yield To Worst (%) | 5.16 | 5.22 |
| Modified duration to worst | 4.07 | 4.22 |  | Yield to maturity (%) | 5.17 | 5.22 |

| Sector Breakdown (%) |  |
| --- | --- |
|  | Portfolio | Benchmark* |
| Banking | 35.23 | 31.77 |
| Consumer Non-Cyclical | 10.01 | 12.36 |
| Communications | 7.74 | 6.56 |
| Insurance | 6.58 | 3.68 |
| Energy | 6.13 | 5.84 |
| Technology | 5.97 | 9.73 |
| Electric | 5.61 | 5.34 |
| REITS | 3.87 | 3.63 |
| Consumer Cyclical | 3.72 | 7.53 |
| Transportation | 3.44 | 1.55 |
| Capital Goods | 2.50 | 5.40 |
| Treasury | 1.64 | 0.00 |
| Brokerage | 1.43 | 1.65 |
| Finance Companies | 1.37 | 1.79 |
| Basic Industry | 1.29 | 2.21 |
| Natural Gas | 0.79 | 0.46 |
| Other Industrial | 0.27 | 0.14 |
| Other Financial | 0.00 | 0.10 |
| Other Utility | 0.00 | 0.26 |
| Cash | 2.41 | 0.00 |
| Modified Duration to Worst Breakdown (%) |  |  |

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| 0 | Cash | 0-1 | 1-3 | 3-5 | 5-7 | 7-10 |
| --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 2.41 | 3.28 | 30.99 | 30.37 | 17.02 | 15.92 |
| Benchmark* | - | 0.69 | 33.37 | 30.75 | 20.76 | 14.44 |

Translation (ENIT, 2022-11-30):
# Performance annua (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portafoglio* | -1.51 | 7.37 | 9.57 | -1.07 | 3.56 | 3.47 | 0.41 | 4.07 | 0.02 | 8.87 |
| Benchmark | -1.00 | 7.47 | 10.14 | -0.23 | 3.92 | 4.17 | 0.95 | 4.35 | 0.08 | 8.84 |
| Differenze | -0.52 | -0.10 | -0.57 | -0.84 | -0.36 | -0.70 | -0.54 | -0.27 | -0.06 | 0.03 |

Le performance pregresse non costituiscono un indicatore affidabile dei risultati futuri. I calcoli della performance sono al netto di commissioni e si basano sul reinvestimento dei dividendi. Il benchmark, ove presente, può essere calcolato sulla base del dividendo netto o lordo. Si rimanda al prospetto informativo per maggiori informazioni.
| Analisi del portafoglio |  |
| --- | --- |
| Caratteristiche del portafoglio |
|  | Portafoglio | Benchmark |  |  | Portafoglio | Benchmark |
| Liquidità (%) | 2.41 | - |  | Opzione adjusted spread | 123 | 119 |
| Numero complessivo di titoli | 230 | 4562 |  | Cedola media (%) | 3.41 | 3.35 |
| Numero di emittenti | 160 | 700 |  | Current yield (%) | 3.58 | 3.63 |
| Years to Maturity | 4.72 | 4.84 |  | Yield to worst (%) | 5.16 | 5.22 |
| Modified duration to worst | 4.07 | 4.22 |  | Yield to maturity (%) | 5.17 | 5.22 |

| Ripartizione per settore (%) |  |
| --- | --- |
|  | Portafoglio | Benchmark |
| Banca | 35.23 | 31.77 |
| Consumi non ciclici | 10.01 | 12.36 |
| Comunicazioni | 7.74 | 6.56 |
| Assicurazione | 6.58 | 3.68 |
| Energia | 6.13 | 5.84 |
| Tecnologia | 5.97 | 9.73 |
| Elettrico | 5.61 | 5.34 |
| REIT | 3.87 | 3.63 |
| Consumi ciclici | 3.72 | 7.53 |
| Trasporti | 3.44 | 1.55 |
| Beni di investimento | 2.50 | 5.40 |
| Titoli di stato | 1.64 | 0.00 |
| Intermediazione | 1.43 | 1.65 |
| Società finanziarie | 1.37 | 1.79 |
| Industria di base | 1.29 | 2.21 |
| Gas naturale | 0.79 | 0.46 |
| Altri settori industriali | 0.27 | 0.14 |
| Altro finanziario | 0.00 | 0.10 |
| Altri servizi pubblici | 0.00 | 0.26 |
| Cash | 2.41 | 0.00 |
| Ripartizione sulla base della Modified Duration to Worst (%) |  |  |

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| 0 | Cash | 0-1 | 1-3 | 3-5 | 5-7 | 7-10 |
| --- | --- | --- | --- | --- | --- | --- |
| Portafoglio | 2.41 | 3.28 | 30.99 | 30.37 | 17.02 | 15.92 |
| Benchmark | - | 0.69 | 33.37 | 30.75 | 20.76 | 14.44 |