# Performance & Risk
## Performance Evolution (EUR)
% of AUM covered by ESG absolute rating: Portfolio = 81.0% (not meaningful for coverage below 50%)
|  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |

108
105
102
99
96
93
90
30/08/19
29/02/20
31/08/20
28/02/21
31/08/21
28/02/22 31/08/22
Portfolio* (-3.02%)
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 basis of net or gross dividend. Please refer to the prospectus for more information.
| Risk Analysis |  |
| --- | --- |
|  | 1Y | 3Y | 5Y | Launch |
| Portfolio Volatility* (%) | 5.82 | 5.26 | 4.49 | 6.19 |
| Sharpe Ratio | -0.58 | 0.13 | 0.20 | 0.34 |
| Rolling Performance (%) |  |  |  |  |
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 31/08/21 31/08/22 | 31/08/20 31/08/21 | 31/08/19 31/08/20 | 31/08/18 31/08/19 | 31/08/17 31/08/18 | Launch |
| Portfolio* | -1.28 | -2.00 | -2.97 | -5.08 | -3.02 | -3.78 | -5.07 | 1.70 | 0.45 | -1.73 | 0.98 | 26.62 |
| Annual Calendar Performance (%) |
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| Portfolio* | -0.34 | 0.30 | 4.31 | -3.90 | 5.21 | 6.28 | -1.52 | 5.28 | 2.00 | 9.88 |

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.

## Asset Allocation (%)
0	10	20	30	40	50	60	70	80	90	100	110
| Equities | 26.62 | 32.49 | 24.84 | 34.64 | 26.35 | 18.91 | 18.53 | 18.90 | 16.84 | 13.53 | 13.94 | 13.36 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversif. | 0.70 | 0.73 | 0.75 | 0.75 | 0.78 | 0.80 | 0.81 | 2.84 | 5.26 | 6.54 | 7.51 | 7.57 |
| Bonds | 48.51 | 49.21 | 51.20 | 49.88 | 49.89 | 53.44 | 54.79 | 45.68 | 43.08 | 44.15 | 43.54 | 42.76 |
| Monetary | 24.16 | 17.57 | 23.21 | 14.72 | 22.98 | 26.85 | 25.87 | 32.57 | 34.83 | 35.78 | 35.01 | 36.31 |

30/09/2021
29/10/2021
30/11/2021
31/12/2021
31/01/2022
28/02/2022
31/03/2022
29/04/2022
31/05/2022
30/06/2022
29/07/2022
31/08/2022
For the Asset allocation, the equities derivatives exposure is included in the equities part . The counterpart of this exposure is included in the monetary part and gives an overall exposure of 100%.

## Currency Breakdown (%)
80
70
60
50
40
30
20
10
0	EUR	USD	GBP	HKD	CHF	JPY	Other
Portfolio	67.53	18.24	3.62	2.81	2.55	2.12	3.12
Source(s): AXA Investment Managers - GICS as at 31/08/2022
For more information about AXA IM, visit axa-im.com
| Sector Breakdown (%) |  |  | Geographical Breakdown (%) |  |
| --- | --- | --- | --- | --- |
|  | Portfolio |  |  | Portfolio |
| Cons. stap. | 24.53 |  | Others | 4.09 |
| Industrials | 23.72 |  | Emerging Markets | 3.66 |
| IT | 22.99 |  | Japan | 3.19 |
| Health Care | 14.88 |  | European Economic Area | 0.67 |
| Financials | 13.30 |  | North America | 0.56 |
| Cons. disc. | 13.19 |  | Asia ex Japan | 0.20 |
| Materials | 2.80 |  |
| Communication Services | 2.05 |
| Real estate | -2.02 |
| Energy | -2.97 |
| Utilities | -6.17 |
| Not classified | -6.28 |
| MarketCap Breakdown (EUR - %) |  |

16
14
12
10
8
6
4
2
0	0 To
250mn
500mn To 1bn
1bn To 3bn
3bn To 5bn
5bn To 10bn
10bn To 25bn
25bn To 100bn
100bn To 250bn
More Than 250bn
Port.	0.15	0.33	0.89	2.64	3.83	4.51	13.39	3.93	5.74
Source(s): AXA Investment Managers - GICS as at 31/08/2022
For more information about AXA IM, visit axa-im.com
| Top 10 Holdings |  |
| --- | --- |
| Equity | Weighting (%) | Sector | Issuer country | Currency |
| Nestle SA | 1.48 | Cons. stap. | European Economic Area | CHF |
| Prysmian SpA | 0.97 | Industrials | European Economic Area | EUR |
| Keyence Corp | 0.86 | IT | Japan | JPY |
| Diageo PLC | 0.79 | Cons. stap. | Others | GBP |
| Moody's Corp | 0.77 | Financials | North America | USD |
| Volvo AB | 0.77 | Industrials | European Economic Area | SEK |
| L'Occitane Ltd | 0.75 | Cons. stap. | European Economic Area | HKD |
| Rio Tinto PLC | 0.73 | Materials | Others | GBP |
| Tencent Holdings Ltd | 0.67 | Communication Services | Emerging Markets | HKD |
| Roche Holding AG | 0.65 | Health Care | European Economic Area | CHF |
| Total (%) | 8.43 |  |  |  |

Fixed Income : 43% of the overall portfolio
| Fund Key Metrics |  |
| --- | --- |
|  | Portfolio |  |  |  | Portfolio |
| Number of Holdings | 253 |  | Mod. Duration |  | 2.57 |
| Number of Issuers | 154 |  | Yield To Worst (%) |  | 3.18 |
| Linear Average Rating | BBB+ |  |  |  |  |
| Top 10 Holdings |  |  |  |  |  |
| Name | Weighting (%) |  | Issuer country | Modified duration | Contribution |
| Schneider Electric SE 0.25% 09/09/2024 | 0.56 |  | European Economic Area | 1.7 | 0.00 |
| BNP Paribas SA 1.125% 11/22/2023 | 0.54 |  | European Economic Area | 1.2 | 0.00 |
| LVMH Moet Hennessy Louis Vuitton 02/11/2024 | 0.42 |  | European Economic Area | 1.3 | 0.00 |
| Belfius Bank SA/NV 0.75% 09/12/2022 | 0.40 |  | European Economic Area | 0.0 | 0.00 |
| Merck Financial Services GmbH 0.005% 12/15/2023 | 0.39 |  | European Economic Area | 1.0 | 0.00 |
| Scentre Group Trust 2 3.25% 09/11/2023 | 0.37 |  | Asia ex Japan | 1.0 | 0.00 |
| HSBC Holdings PLC 3% 06/30/2025 | 0.36 |  | Others | 2.7 | 0.00 |
| Becton Dickinson and Co 1.4% 05/24/2023 | 0.36 |  | North America | 0.6 | 0.00 |
| Banco Santander SA 3.25% 04/04/2026 | 0.36 |  | European Economic Area | 3.3 | 0.00 |
| Elia Transmission Belgium SA 1.375% 05/27/2024 | 0.35 |  | European Economic Area | 1.4 | 0.00 |
| Total (%) | 4.11 |  |  |  |  |

Source(s): AXA Investment Managers - GICS as at 31/08/2022
For more information about AXA IM, visit axa-im.com

## Maturity Breakdown (%)
25
20
15
10
5
0	0-1 year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 years
Portfolio	4.79	19.10	12.59	5.14	0.98	0.53	0.79

## Rating Breakdown (%)
30
20
10
0	AAA	AA	A	BBB	BB	B	CCC	NR
Portfolio	0.06	0.97	10.96	24.91	4.52	1.57	0.08	0.84

## Instrument Type Breakdown (%)
25
|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  |  |
|  |  |  |
|  |  |  |  |  |

20
15
10
5
| 0 | Industrials | Financial | Utility | Not Classified | Sovereign | Quasi & Foreign Government |
| --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 19.60 | 18.07 | 4.70 | 0.84 | 0.56 | 0.14 |

Diversification : 8% of the overall portfolio
| Equity | Weighting (%) | Issuer country | Currency |
| --- | --- | --- | --- |
| iShares Physical Gold ETC | 4.60 | European Economic Area | USD |
| AXA WF Dynamic Optimal Income | 2.08 | European Economic Area | USD |
| AXA IM WAVe Cat Bonds Fund | 0.58 | Others | EUR |
| AXA IM WAVe Cat Bonds Fund | 0.31 | Others | USD |
| Total (%) | 7.58 |  |  |
| For more information about AXA IM, visit axa-im.com |  |  |  |


## Top 10 Holdings
Source(s): AXA Investment Managers - GICS as at 31/08/2022

Translation (ENDE, 2022-08-31):
# Wertentwicklung & Risiken
Wertentwicklung (EUR)
% des verwalteten Vermögens, das vom absoluten ESG-Rating abgedeckt wird: Portfolio = 81.0% (nicht bedeutend bei einer Abdeckung von weniger als 50
%)
|  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |

108
105
102
99
96
93
90
30/08/19
29/02/20
31/08/20
28/02/21
31/08/21
28/02/22 31/08/22
Portfolio* (-3.02%)
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 berechnet sein. Weitere Informationen entnehmen Sie bitte dem Fondsprospekt.
| Risikoanalyse |  |
| --- | --- |
|  | 1J | 3J | 5J | Auflage |
| Portfolio Volatilität* (%) | 5.82 | 5.26 | 4.49 | 6.19 |
| Sharpe Ratio | -0.58 | 0.13 | 0.20 | 0.34 |
| Wertentwicklung (Brutto, Netto in %) |  |  |  |  |

4
2
0
-2
-4
|  | 31/08/2017 - | 31/08/2018 - | 31/08/2019 - | 31/08/2020 - | 31/08/2021 - |  |
| --- | --- | --- | --- | --- | --- | --- |
| 31/08/2018 | 31/08/2019 | 31/08/2020 | 31/08/2021 | 31/08/2022 |  |
|  | Brutto-Wertentwicklung | 0.98 | -1.73 | 0.45 | 1.70 | -5.07 |  |
|  | Netto-Wertentwicklung | -4.29 | -1.73 | 0.45 | 1.70 | -5.07 |  |

-6
Berechnung nach BVI-Wertermittlungsstatistik (siehe Erläuterung unter 'Wichtige Hinweise')

## Rollierende Wertentwicklung (%)
|  | 1M | 3M | 6M | YTD | 3J | 5J | 31/08/21 31/08/22 | 31/08/20 31/08/21 | 31/08/19 31/08/20 | 31/08/18 31/08/19 | 31/08/17 31/08/18 | Auflage |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -1.28 | -2.00 | -2.97 | -5.08 | -3.02 | -3.78 | -5.07 | 1.70 | 0.45 | -1.73 | 0.98 | 26.62 |

Wertentwicklung im Kalenderjahr (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -0.34 | 0.30 | 4.31 | -3.90 | 5.21 | 6.28 | -1.52 | 5.28 | 2.00 | 9.88 |

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.

## Portfolio-Strukterierung (%)
0	10	20	30	40	50	60	70	80	90	100	110
| Aktien | 26.62 | 32.49 | 24.84 | 34.64 | 26.35 | 18.91 | 18.53 | 18.90 | 16.84 | 13.53 | 13.94 | 13.36 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Diversifizierung | 0.70 | 0.73 | 0.75 | 0.75 | 0.78 | 0.80 | 0.81 | 2.84 | 5.26 | 6.54 | 7.51 | 7.57 |
| Anleihen | 48.51 | 49.21 | 51.20 | 49.88 | 49.89 | 53.44 | 54.79 | 45.68 | 43.08 | 44.15 | 43.54 | 42.76 |
| Geldmarkt | 24.16 | 17.57 | 23.21 | 14.72 | 22.98 | 26.85 | 25.87 | 32.57 | 34.83 | 35.78 | 35.01 | 36.31 |

30/09/2021
29/10/2021
30/11/2021
31/12/2021
31/01/2022
28/02/2022
31/03/2022
29/04/2022
31/05/2022
30/06/2022
29/07/2022
31/08/2022
Im Bereich 'Anlagenaufteilung' sind Aktienderivate im Aktienanteil berücksichtigt. Der Gegenpart dazu ist im Geldmarktanteil berücksichtigt, so dass die Aufteilung insgesamt 100% ergibt.

## Engagement nach Währung (%)
80
70
60
50
40
30
20
10
0	EUR	USD	GBP	HKD	CHF	JPY	Sonstige
Portfolio	67.53	18.24	3.62	2.81	2.55	2.12	3.12
Quellen : AXA Investment Managers - GICS per 31/08/2022
Weitere Informationen über AXA IM finden Sie unter axa-im.com
| Sektorengewichtung (%) |  |  | Geographische Ausrichtung (%) |  |
| --- | --- | --- | --- | --- |
|  | Portfolio |  |  | Portfolio |
| Kurzleb. Konsumg. | 24.53 |  | Sonstige | 4.09 |
| Industrie | 23.72 |  | Aufstrebende Märkte | 3.66 |
| Informatik | 22.99 |  | Japan | 3.19 |
| Gesundheit | 14.88 |  | Europäischer Wirtschaftsraum | 0.67 |
| Finanzen | 13.30 |  | Nordamerika | 0.56 |
| Dauerh. Konsumg. | 13.19 |  | Asien ex Japan | 0.20 |
| Werkstoffe | 2.80 |  |
| Komm. Dienste | 2.05 |
| Immobilien | -2.02 |
| Energie | -2.97 |
| Öffentl. Dienste | -6.17 |
| Nicht klassifiziert | -6.28 |


## Aufgliederung nach Marktkapitalisierung (EUR - %)
16
14
12
10
8
6
4
2
0	Von 0 bis
250 Moi
Von 500 Mio
bis 1 Mrd
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.
Port.	0.15	0.33	0.89	2.64	3.83	4.51	13.39	3.93	5.74
Quellen : AXA Investment Managers - GICS per 31/08/2022
Weitere Informationen über AXA IM finden Sie unter axa-im.com
| Top 10 Positionen |  |
| --- | --- |
| Aktie | Gewichtung (%) | Kategorie | Investiert in | Währung |
| Nestle SA | 1.48 | Kurzleb. Konsumg. | Europäischer Wirtschaftsraum | CHF |
| Prysmian SpA | 0.97 | Industrie | Europäischer Wirtschaftsraum | EUR |
| Keyence Corp | 0.86 | Informatik | Japan | JPY |
| Diageo PLC | 0.79 | Kurzleb. Konsumg. | Sonstige | GBP |
| Moody's Corp | 0.77 | Finanzen | Nordamerika | USD |
| Volvo AB | 0.77 | Industrie | Europäischer Wirtschaftsraum | SEK |
| L'Occitane Ltd | 0.75 | Kurzleb. Konsumg. | Europäischer Wirtschaftsraum | HKD |
| Rio Tinto PLC | 0.73 | Werkstoffe | Sonstige | GBP |
| Tencent Holdings Ltd | 0.67 | Komm. Dienste | Aufstrebende Märkte | HKD |
| Roche Holding AG | 0.65 | Gesundheit | Europäischer Wirtschaftsraum | CHF |
| Summe (%) | 8.43 |  |  |  |

Anleihen : 43% des Gesamtportfolios

## Fondsindikatoren
Portfolio
Anzahl Positionen	253
Anzahl Emittenten	154
Portfolio
Mod. Duration	2.57
Yield-to-Worst (%)	3.18
| Durchschnittliches Rating (Linear) | BBB+ |  |
| --- | --- | --- |
| Die grössten Werte |  |
| Name | Gewichtung (%) | Investiert in | Sensitivität | Beitrag |
| Schneider Electric SE 0.25% 09/09/2024 | 0.56 | Europäischer Wirtschaftsraum | 1.7 | 0.00 |
| BNP Paribas SA 1.125% 11/22/2023 | 0.54 | Europäischer Wirtschaftsraum | 1.2 | 0.00 |
| LVMH Moet Hennessy Louis Vuitton 02/11/2024 | 0.42 | Europäischer Wirtschaftsraum | 1.3 | 0.00 |
| Belfius Bank SA/NV 0.75% 09/12/2022 | 0.40 | Europäischer Wirtschaftsraum | 0.0 | 0.00 |
| Merck Financial Services GmbH 0.005% 12/15/2023 | 0.39 | Europäischer Wirtschaftsraum | 1.0 | 0.00 |
| Scentre Group Trust 2 3.25% 09/11/2023 | 0.37 | Asien ex Japan | 1.0 | 0.00 |
| HSBC Holdings PLC 3% 06/30/2025 | 0.36 | Sonstige | 2.7 | 0.00 |
| Becton Dickinson and Co 1.4% 05/24/2023 | 0.36 | Nordamerika | 0.6 | 0.00 |
| Banco Santander SA 3.25% 04/04/2026 | 0.36 | Europäischer Wirtschaftsraum | 3.3 | 0.00 |
| Elia Transmission Belgium SA 1.375% 05/27/2024 | 0.35 | Europäischer Wirtschaftsraum | 1.4 | 0.00 |
| Summe (%) | 4.11 |  |  |  |

Quellen : AXA Investment Managers - GICS per 31/08/2022
Weitere Informationen über AXA IM finden Sie unter axa-im.com

## Engagement nach Laufzeit (%)
25
20
15
10
5
0	0-1 Jahre	1-3 Jahre	3-5 Jahre	5-7 Jahre	7-10 Jahre	10-20 Jahre	+20 Jahre
Portfolio	4.79	19.10	12.59	5.14	0.98	0.53	0.79

## Engagement nach Rating (%)
30
20
10
0	AAA	AA	A	BBB	BB	B	CCC	NR
Portfolio	0.06	0.97	10.96	24.91	4.52	1.57	0.08	0.84

## Titelstruktur (%)
25
|  |  |  |  |  |
| --- | --- | --- | --- | --- |
|  |  |  |
|  |  |  |
|  |  |  |  |  |

20
15
10
5
| 0 | Industrie | Finanzen | Versorgungsbetriebe | Ohne Zuordnung | Sovereign | Quasi & Foreign Government |
| --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 19.60 | 18.07 | 4.70 | 0.84 | 0.56 | 0.14 |

Diversifizierung : 8% des Gesamtportfolios
| Aktie | Gewichtung (%) | Investiert in | Währung |
| --- | --- | --- | --- |
| iShares Physical Gold ETC | 4.60 | Europäischer Wirtschaftsraum | USD |
| AXA WF Dynamic Optimal Income | 2.08 | Europäischer Wirtschaftsraum | USD |
| AXA IM WAVe Cat Bonds Fund | 0.58 | Sonstige | EUR |
| AXA IM WAVe Cat Bonds Fund | 0.31 | Sonstige | USD |
| Summe (%) | 7.58 |  |  |
| Weitere Informationen über AXA IM finden Sie unter axa-im.com |  |  |  |


## Top 10 Positionen
Quellen : AXA Investment Managers - GICS per 31/08/2022