# Performance & Risk
## Performance Evolution (EUR)

## Fund Profile
ESG Rating
ESG Relative Rating
CO2 Relative rating
28/09/18	30/03/19	30/09/19	30/03/20	30/09/20	30/03/21 30/09/21
Portfolio* (17.52%)	Benchmark (25.29%)
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 = 99.4% Benchmark = 99.6% (not meaningful for coverage below 50%)
% of AUM covered by CO2 intensity indicator: Portfolio
= 99.0% Benchmark = 99.0% (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* (%) | 15.20 | 20.38 | 17.06 | 18.27 |  |
| Benchmark Volatility (%) | 14.90 | 19.67 | 16.39 | 17.88 |  |
| Relative Risk/Tracking Error  (%) | 2.77 | 2.43 | 2.20 | 2.81 |  |
| Sharpe Ratio | 2.22 | 0.36 | 0.49 | 0.10 |  |
| Information Ratio | 1.27 | -0.29 | -0.35 | 0.28 |  |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 30/09/20 30/09/21 | 30/09/19 30/09/20 | 30/09/18 30/09/19 | 30/09/17 30/09/18 | 30/09/16 30/09/17 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -2.51 | 1.17 | 7.27 | 17.61 | 17.52 | 36.54 | 31.90 | -9.17 | -1.91 | -5.42 | 22.85 | 47.60 |
| Benchmark | -3.37 | 0.30 | 6.12 | 15.02 | 25.29 | 52.33 | 30.35 | -7.72 | 4.16 | -0.54 | 22.24 | 69.01 |
| Excess Return | 0.86 | 0.86 | 1.15 | 2.59 | -7.77 | -15.79 | 1.55 | -1.45 | -6.07 | -4.88 | 0.61 | -21.41 |

Annual Calendar Performance (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -4.71 | 24.48 | -20.15 | 12.96 | 4.83 | 8.85 | 4.26 | 28.72 | 19.13 | -19.42 |
| Benchmark | -0.64 | 26.34 | -13.23 | 12.63 | 3.75 | 10.76 | 4.24 | 23.45 | 18.96 | -15.28 |
| Excess Return | -4.07 | -1.86 | -6.92 | 0.33 | 1.08 | -1.91 | 0.02 | 5.27 | 0.17 | -4.14 |

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 |  |  |
| Asml Holding NV | 3.88 | 5.64 | -1.76 | Information Technology | Netherlands |
| SAP SE | 3.45 | 2.54 | 0.90 | Information Technology | Germany |
| LVMH Moet Hennessy Louis Vu... | 3.32 | 3.58 | -0.26 | Consumer Discretionary | France |
| Sanofi | 2.68 | 1.96 | 0.72 | Health Care | France |
| L'Oreal SA | 2.64 | 1.87 | 0.77 | Consumer Staples | France |
| Allianz SE | 2.51 | 1.67 | 0.84 | Financials | Germany |
| Daimler AG | 2.33 | 1.37 | 0.97 | Consumer Discretionary | Germany |
| Schneider Electric SE | 2.24 | 1.61 | 0.62 | Industrials | France |
| BASF SE | 2.16 | 1.26 | 0.90 | Materials | Germany |
| Banco Santander SA | 1.98 | 1.13 | 0.84 | Financials | Spain |
| Total (%) | 27.18 | 22.65 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Banco Bilbao Vizcaya Argentaria SA | 1.86 | 0.79 | 1.07 |  | Asml Holding NV | 3.88 | 5.64 | -1.76 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Omv AG | 1.22 | 0.16 | 1.06 |  | Siemens AG | 0.70 | 2.26 | -1.56 |
| Repsol SA | 1.38 | 0.34 | 1.04 |  | TotalEnergies SE | 0.66 | 2.15 | -1.49 |
| Azimut Holding SpA | 1.03 | 0.00 | 1.03 |  | Air Liquide SA | 0.00 | 1.37 | -1.37 |
| Koninklijke Ahold Delhaize NV | 1.64 | 0.63 | 1.02 |  | Prosus NV | 0.00 | 1.34 | -1.34 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-3	-2	-1	0	1	2	3	4	5
Financials	19.67	14.84
Consumer Discretionary	16.10	17.67
Industrials	15.96	15.21
Information Technology	12.73	14.17
Materials	10.38	7.06
Consumer Staples	7.41	7.59
Communication Services	5.80	4.38
Health Care	4.72	7.52
Utilities	3.52	5.92
Energy	3.37	3.93
Real Estate	0.00	1.71
Cash	0.35	0.00

## Geographical Breakdown (%)
Portfolio	Benchmark
France	31.55	33.97
Germany	24.50	27.54
Netherlands	12.89	14.66
Spain	10.13	7.19
Italy	6.37	7.42
Finland	4.57	3.11
Belgium	3.18	2.72
Ireland	3.10	2.15
Austria	2.73	0.65
Portugal	0.62	0.58
Cash	0.35	0.00

## Active Exposure by Geography (%)
-4	-3	-2	-1	0	1	2	3
MarketCap Breakdown (EUR - %)
60
50
40
30
20
10
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.	0.23	6.82	3.75	9.78	21.34	41.07	9.47	7.20	0.35
Bench.	-	-	0.48	5.38	21.09	51.15	12.68	9.22	-

Translation (ENDE, 2021-09-30):
# Wertentwicklung & Risiken
Wertentwicklung (EUR)

## Fonds-Profile
ESG-Rating
Relatives ESG Rating
Relative CO2-Intensität
28/09/18	30/03/19	30/09/19	30/03/20	30/09/20	30/03/21 30/09/21
Portfolio* (17.52%)	Benchmark (25.29%)
Die Daten von AXA IM sind auf der Basis von 100 zum Anfangsdatum der Grafik angegeben.
Die Wertentwicklung in der Vergangenheit ist kein zuverlässiger Indikator für zukünftige Ergebnisse. Performanceberechnungen verstehen sich nach Abzug von Gebühren, bei Wiederanlage von Dividenden. Sofern eine Benchmark angegeben ist, könnte sie auf der Basis von Netto- oder Bruttodividenden
% des verwalteten Vermögens, das vom absoluten ESG-Rating abgedeckt wird: Portfolio = 99.4% Benchmark = 99.6% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)
% des verwalteten Vermögens, das vom Indikator der CO2-Intensität abgedeckt wird: Portfolio = 99.0%
| berechnet sein. Weitere Informationen entnehmen Risikoanalyse | Sie bitte dem Fondsprospekt. |  |  | Benchmark = 99.0% (nicht bedeutend bei einer Abdeckung von weniger als 50 %) |
| --- | --- | --- | --- | --- |
|  | 1J | 3J | 5J | Auflage |  |
| Portfolio Volatilität* (%) | 15.20 | 20.38 | 17.06 | 18.27 |  |
| Benchmark Volatilität (%) | 14.90 | 19.67 | 16.39 | 17.88 |  |
| Relatives Risiko/Tracking Error  (%) | 2.77 | 2.43 | 2.20 | 2.81 |  |
| Sharpe Ratio | 2.22 | 0.36 | 0.49 | 0.10 |  |
| Information Ratio | 1.27 | -0.29 | -0.35 | 0.28 |  |


## Wertentwicklung (Brutto, Netto in %)
40
20
0
|  | 30/09/2016 - | 30/09/2017 - | 30/09/2018 - | 30/09/2019 - | 30/09/2020 - |  |
| --- | --- | --- | --- | --- | --- | --- |
| 30/09/2017 | 30/09/2018 | 30/09/2019 | 30/09/2020 | 30/09/2021 |  |
|  | Brutto-Wertentwicklung | 22.85 | -5.42 | -1.91 | -9.17 | 31.90 |  |
|  | Netto-Wertentwicklung | 17.56 | -5.42 | -1.91 | -9.17 | 31.90 |  |

-20
Berechnung nach BVI-Wertermittlungsstatistik (siehe Erläuterung unter 'Wichtige Hinweise')

## Rollierende Wertentwicklung (%)
|  | 1M | 3M | 6M | YTD | 3J | 5J | 30/09/20 30/09/21 | 30/09/19 30/09/20 | 30/09/18 30/09/19 | 30/09/17 30/09/18 | 30/09/16 30/09/17 | Auflage |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -2.51 | 1.17 | 7.27 | 17.61 | 17.52 | 36.54 | 31.90 | -9.17 | -1.91 | -5.42 | 22.85 | 47.60 |
| Benchmark | -3.37 | 0.30 | 6.12 | 15.02 | 25.29 | 52.33 | 30.35 | -7.72 | 4.16 | -0.54 | 22.24 | 69.01 |
| Abstände | 0.86 | 0.86 | 1.15 | 2.59 | -7.77 | -15.79 | 1.55 | -1.45 | -6.07 | -4.88 | 0.61 | -21.41 |

Wertentwicklung im Kalenderjahr (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -4.71 | 24.48 | -20.15 | 12.96 | 4.83 | 8.85 | 4.26 | 28.72 | 19.13 | -19.42 |
| Benchmark | -0.64 | 26.34 | -13.23 | 12.63 | 3.75 | 10.76 | 4.24 | 23.45 | 18.96 | -15.28 |
| Abstände | -4.07 | -1.86 | -6.92 | 0.33 | 1.08 | -1.91 | 0.02 | 5.27 | 0.17 | -4.14 |

Die Wertentwicklung in der Vergangenheit ist kein zuverlässiger Indikator für zukünftige Ergebnisse. Performanceberechnungen verstehen sich nach Abzug von Gebühren, bei Wiederanlage von Dividenden. Sofern eine Benchmark angegeben ist, könnte sie auf der Basis von Netto- oder Bruttodividenden berechnet sein. Weitere Informationen entnehmen Sie bitte dem Fondsprospekt.
| Portfolioanalyse |  |
| --- | --- |
| Top 10 Positionen |
| Aktie |  |  | Gewichtung (%) | Sektor | Land |
|  | Portfolio | Benchmark | Relative |  |  |
| Asml Holding NV | 3.88 | 5.64 | -1.76 | Informatik | Niederlande |
| SAP SE | 3.45 | 2.54 | 0.90 | Informatik | Deutschland |
| LVMH Moet Hennessy Louis Vu... | 3.32 | 3.58 | -0.26 | Dauerh. Konsumg. | Frankreich |
| Sanofi | 2.68 | 1.96 | 0.72 | Gesundheit | Frankreich |
| L'Oreal SA | 2.64 | 1.87 | 0.77 | Kurzleb. Konsumg. | Frankreich |
| Allianz SE | 2.51 | 1.67 | 0.84 | Finanzen | Deutschland |
| Daimler AG | 2.33 | 1.37 | 0.97 | Dauerh. Konsumg. | Deutschland |
| Schneider Electric SE | 2.24 | 1.61 | 0.62 | Industrieunternehmen | Frankreich |
| BASF SE | 2.16 | 1.26 | 0.90 | Werkstoffe | Deutschland |
| Banco Santander SA | 1.98 | 1.13 | 0.84 | Finanzen | Spanien |
| Summe (%) | 27.18 | 22.65 |  |  |  |


## Top 5 übergewichtete Positionen (%)	Top 5 untergewichtete Positionen (%)
Port. Bench. Relative	Port. Bench. Relative
| Banco Bilbao Vizcaya Argentaria SA | 1.86 | 0.79 | 1.07 |  | Asml Holding NV | 3.88 | 5.64 | -1.76 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Omv AG | 1.22 | 0.16 | 1.06 |  | Siemens AG | 0.70 | 2.26 | -1.56 |
| Repsol SA | 1.38 | 0.34 | 1.04 |  | TotalEnergies SE | 0.66 | 2.15 | -1.49 |
| Azimut Holding SpA | 1.03 | 0.00 | 1.03 |  | Air Liquide SA | 0.00 | 1.37 | -1.37 |
| Koninklijke Ahold Delhaize NV | 1.64 | 0.63 | 1.02 |  | Prosus NV | 0.00 | 1.34 | -1.34 |


## Sektorengewichtung (%)
Portfolio	Benchmark

## Aktives Engagement nach Sektoren (%)
-3	-2	-1	0	1	2	3	4	5
Finanzen	19.67	14.84
Dauerh. Konsumg.	16.10	17.67
Industrieunternehmen	15.96	15.21
Informatik	12.73	14.17
Werkstoffe	10.38	7.06
Kurzleb. Konsumg.	7.41	7.59
Kommunikationsdienste	5.80	4.38
Gesundheit	4.72	7.52
Öffentliche Dienste	3.52	5.92
Energie	3.37	3.93
Immobilien	0.00	1.71
Liquide Mittel	0.35	0.00

## Geographische Ausrichtung (%)
Portfolio	Benchmark
Frankreich	31.55	33.97
Deutschland	24.50	27.54
Niederlande	12.89	14.66
Spanien	10.13	7.19
Italien	6.37	7.42
Finnland	4.57	3.11
Belgien	3.18	2.72
Irland	3.10	2.15
Österreich	2.73	0.65
Portugal	0.62	0.58
Liquide Mittel	0.35	0.00

## Aktives Engagement nach geografischen Regionen (%)
-4	-3	-2	-1	0	1	2	3

## Aufgliederung nach Marktkapitalisierung (EUR - %)
60
50
40
30
20
10
0	Von 0 bis
250 Moi
Von 1 bis 3 Mrd
Von 3 bis 5 Mrd
Von 5 bis
10 Mrd
Von 10 bis
25 Mrd
Von 25 bis
100 Mrd
Von 100 bis
250 Mrd
Mehr als 250 Mrd.
Liquide Mittel
Port.	0.23	6.82	3.75	9.78	21.34	41.07	9.47	7.20	0.35
Bench.	-	-	0.48	5.38	21.09	51.15	12.68	9.22	-