# Performance & Risk
## Performance Evolution (EUR)
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180
160
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120
100
80
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## Fund Profile
ESG Rating
ESG Relative Rating
CO2 Relative rating
30/08/19	29/02/20	31/08/20	28/02/21	31/08/21	28/02/22 31/08/22
Portfolio* (36.82%)	Benchmark (38.09%)
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 = 93.4% Benchmark = 99.9% (not meaningful for coverage below 50%)
% of AUM covered by CO2 intensity indicator: Portfolio
= 92.9% Benchmark = 99.3% (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* (%) | 17.33 | 16.93 | 16.08 | 13.93 |  |
| Benchmark Volatility (%) | 14.72 | 16.30 | 14.88 | 12.90 |  |
| Relative Risk/Tracking Error  (%) | 6.24 | 6.77 | 6.05 | 4.82 |  |
| Sharpe Ratio | -0.55 | 0.72 | 0.79 | 0.92 |  |
| Information Ratio | -1.41 | 0.08 | 0.32 | 0.36 |  |


## 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* | -2.98 | 2.29 | -2.83 | -12.73 | 36.82 | 73.57 | -10.73 | 23.24 | 24.36 | 7.27 | 18.27 | 185.11 |
| Benchmark | -2.33 | 0.52 | -0.82 | -7.37 | 38.09 | 65.63 | -1.25 | 30.33 | 7.30 | 5.36 | 13.84 | 165.35 |
| Excess Return | -0.65 | 1.77 | -2.00 | -5.36 | -1.27 | 7.95 | -9.48 | -7.09 | 17.07 | 1.91 | 4.43 | 19.76 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 17.73 | 21.13 | 36.95 | -3.87 | 11.52 | 5.11 | 9.15 | 23.26 | - | - |
| Benchmark | 28.96 | 5.89 | 29.86 | -5.50 | 8.89 | 10.82 | 8.97 | 19.30 | - | - |
| Excess Return | -11.22 | 15.24 | 7.09 | 1.63 | 2.62 | -5.72 | 0.18 | 3.96 | - | - |

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 |  |  |
| Alphabet Inc | 5.22 | 2.22 | 3.00 | Communication Services | USA |
| Waste Connections Inc | 3.16 | 0.06 | 3.10 | Industrials | USA |
| UnitedHealth Group Inc | 3.13 | 0.85 | 2.28 | Health Care | USA |
| NextEra Energy Inc | 2.75 | 0.29 | 2.45 | Utilities | USA |
| Amazon.com Inc | 2.67 | 2.03 | 0.64 | Consumer Discretionary | USA |
| TE Connectivity Ltd | 2.63 | 0.07 | 2.56 | Information Technology | USA |
| Apple Inc | 2.56 | 4.49 | -1.93 | Information Technology | USA |
| Fiserv Inc | 2.55 | 0.11 | 2.44 | Information Technology | USA |
| National Grid PLC | 2.42 | 0.08 | 2.34 | Utilities | United Kingdom |
| Fidelity National Informati... | 2.40 | 0.10 | 2.30 | Information Technology | USA |
| Total (%) | 29.50 | 10.31 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Waste Connections Inc | 3.16 | 0.06 | 3.10 |  | Apple Inc | 2.56 | 4.49 | -1.93 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Alphabet Inc | 5.22 | 2.22 | 3.00 |  | Tesla Inc | 0.00 | 1.27 | -1.27 |
| TE Connectivity Ltd | 2.63 | 0.07 | 2.56 |  | Microsoft Corp | 2.33 | 3.26 | -0.92 |
| NextEra Energy Inc | 2.75 | 0.29 | 2.45 |  | Johnson & Johnson | 0.00 | 0.74 | -0.74 |
| Fiserv Inc | 2.55 | 0.11 | 2.44 |  | Exxon Mobil Corp | 0.00 | 0.71 | -0.71 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-8	-6	-4	-2	0	2	4	6	8	10	12
Information Technology	33.13	21.43
Health Care	18.32	12.17
Industrials	9.61	9.58
Communication Services	7.13	7.56
Financials	7.01	14.34
Utilities	6.35	3.20
Consumer Staples	5.20	7.51
Consumer Discretionary	5.12	11.58
Real Estate	1.53	2.75
Materials	0.00	4.64
Energy	0.00	5.25
Cash	6.60	0.00

## Geographical Breakdown (%)
Portfolio	Benchmark
USA	68.41	61.84
United Kingdom	6.38	3.68
Japan	2.98	5.46
India	2.87	1.64
Germany	2.19	1.78
Ireland	2.03	0.15
Taiwan	1.90	1.65
Hong Kong	1.68	0.74
Spain	1.18	0.56
Argentina	1.07	0.00
Netherlands	0.98	0.97
China	0.87	3.63
Other	0.87	17.92
Cash	6.60	0.00

## Active Exposure by Geography (%)
-18	-15	-12	-9	-6	-3	0	3	6	9
MarketCap Breakdown (USD - %)
39
36
33
30
27
24
21
18
15
12
9
6
3
0	500mn To
1bn
1bn To 3bn
3bn To 5bn
5bn To 10bn
10bn To 25bn
25bn To 100bn
100bn To 250bn
More Than 250bn
Cash
Port.	0.03	4.39	1.05	3.41	10.93	34.44	18.51	20.64	6.60
Bench.	-	0.27	1.20	5.03	14.36	33.25	19.37	26.52	-

Translation (ENDE, 2022-08-31):
# Wertentwicklung & Risiken
Wertentwicklung (EUR)
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## Fonds-Profile
ESG-Rating
Relatives ESG Rating
Relative CO2-Intensität
30/08/19	29/02/20	31/08/20	28/02/21	31/08/21	28/02/22 31/08/22
Portfolio* (36.82%)	Benchmark (38.09%)
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 = 93.4% Benchmark = 99.9% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)
% des verwalteten Vermögens, das vom Indikator der CO2-Intensität abgedeckt wird: Portfolio = 92.9%
| berechnet sein. Weitere Informationen entnehmen Risikoanalyse | Sie bitte dem Fondsprospekt. |  |  | Benchmark = 99.3% (nicht bedeutend bei einer Abdeckung von weniger als 50 %) |
| --- | --- | --- | --- | --- |
|  | 1J | 3J | 5J | Auflage |  |
| Portfolio Volatilität* (%) | 17.33 | 16.93 | 16.08 | 13.93 |  |
| Benchmark Volatilität (%) | 14.72 | 16.30 | 14.88 | 12.90 |  |
| Relatives Risiko/Tracking Error  (%) | 6.24 | 6.77 | 6.05 | 4.82 |  |
| Sharpe Ratio | -0.55 | 0.72 | 0.79 | 0.92 |  |
| Information Ratio | -1.41 | 0.08 | 0.32 | 0.36 |  |


## Wertentwicklung (Brutto, Netto in %)
30
20
10
0
-10
|  | 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 | 18.27 | 7.27 | 24.36 | 23.24 | -10.73 |
| Netto-Wertentwicklung | 18.27 | 7.27 | 24.36 | 23.24 | -10.73 |

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

## Rollierende Wertentwicklung (%)
| 1M	3M	6M	YTD	3J	5J	31/08/21 | 31/08/20 | 31/08/19 | 31/08/18 | 31/08/17	Auflage |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  | 31/08/22 | 31/08/21 | 31/08/20 | 31/08/19 | 31/08/18 |  |
| Portfolio* | -2.98 | 2.29 | -2.83 | -12.73 | 36.82 | 73.57 | -10.73 | 23.24 | 24.36 | 7.27 | 18.27 | 185.11 |
| Benchmark | -2.33 | 0.52 | -0.82 | -7.37 | 38.09 | 65.63 | -1.25 | 30.33 | 7.30 | 5.36 | 13.84 | 165.35 |
| Abstände | -0.65 | 1.77 | -2.00 | -5.36 | -1.27 | 7.95 | -9.48 | -7.09 | 17.07 | 1.91 | 4.43 | 19.76 |

Wertentwicklung im Kalenderjahr (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 17.73 | 21.13 | 36.95 | -3.87 | 11.52 | 5.11 | 9.15 | 23.26 | - | - |
| Benchmark | 28.96 | 5.89 | 29.86 | -5.50 | 8.89 | 10.82 | 8.97 | 19.30 | - | - |
| Abstände | -11.22 | 15.24 | 7.09 | 1.63 | 2.62 | -5.72 | 0.18 | 3.96 | - | - |

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.
| Top 10 Positionen |  |
| --- | --- |
| Aktie |  |  | Gewichtung (%) | Sektor | Land |
|  | Portfolio | Benchmark | Relative |  |  |
| Alphabet Inc | 5.22 | 2.22 | 3.00 | Kommunikationsdienste | Vereinigten Staaten |
| Waste Connections Inc | 3.16 | 0.06 | 3.10 | Industrieunternehmen | Vereinigten Staaten |
| UnitedHealth Group Inc | 3.13 | 0.85 | 2.28 | Gesundheit | Vereinigten Staaten |
| NextEra Energy Inc | 2.75 | 0.29 | 2.45 | Öffentliche Dienste | Vereinigten Staaten |
| Amazon.com Inc | 2.67 | 2.03 | 0.64 | Dauerh. Konsumg. | Vereinigten Staaten |
| TE Connectivity Ltd | 2.63 | 0.07 | 2.56 | Informatik | Vereinigten Staaten |
| Apple Inc | 2.56 | 4.49 | -1.93 | Informatik | Vereinigten Staaten |
| Fiserv Inc | 2.55 | 0.11 | 2.44 | Informatik | Vereinigten Staaten |
| National Grid PLC | 2.42 | 0.08 | 2.34 | Öffentliche Dienste | Großbritannien |
| Fidelity National Informati... | 2.40 | 0.10 | 2.30 | Informatik | Vereinigten Staaten |
| Summe (%) | 29.50 | 10.31 |  |  |  |


## Top 5 übergewichtete Positionen (%)	Top 5 untergewichtete Positionen (%)
Port. Bench. Relative	Port. Bench. Relative
| Waste Connections Inc | 3.16 | 0.06 | 3.10 |  | Apple Inc | 2.56 | 4.49 | -1.93 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Alphabet Inc | 5.22 | 2.22 | 3.00 |  | Tesla Inc | 0.00 | 1.27 | -1.27 |
| TE Connectivity Ltd | 2.63 | 0.07 | 2.56 |  | Microsoft Corp | 2.33 | 3.26 | -0.92 |
| NextEra Energy Inc | 2.75 | 0.29 | 2.45 |  | Johnson & Johnson | 0.00 | 0.74 | -0.74 |
| Fiserv Inc | 2.55 | 0.11 | 2.44 |  | Exxon Mobil Corp | 0.00 | 0.71 | -0.71 |


## Sektorengewichtung (%)
Portfolio	Benchmark

## Aktives Engagement nach Sektoren (%)
-8	-6	-4	-2	0	2	4	6	8	10	12
Informatik	33.13	21.43
Gesundheit	18.32	12.17
Industrieunternehmen	9.61	9.58
Kommunikationsdienste	7.13	7.56
Finanzen	7.01	14.34
Öffentliche Dienste	6.35	3.20
Kurzleb. Konsumg.	5.20	7.51
Dauerh. Konsumg.	5.12	11.58
Immobilien	1.53	2.75
Werkstoffe	0.00	4.64
Energie	0.00	5.25
Liquide Mittel	6.60	0.00

## Geographische Ausrichtung (%)
Portfolio	Benchmark
Vereinigten Staaten	68.41	61.84
Großbritannien	6.38	3.68
Japan	2.98	5.46
Indien	2.87	1.64
Deutschland	2.19	1.78
Irland	2.03	0.15
Taiwan	1.90	1.65
Hong-Kong	1.68	0.74
Spanien	1.18	0.56
Argentinien	1.07	0.00
Niederlande	0.98	0.97
China	0.87	3.63
Sonstige	0.87	17.92
Liquide Mittel	6.60	0.00

## Aktives Engagement nach geografischen Regionen (%)
-18	-15	-12	-9	-6	-3	0	3	6	9

## Aufgliederung nach Marktkapitalisierung (USD - %)
39
36
33
30
27
24
21
18
15
12
9
6
3
0	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.
Liquide Mittel
Port.	0.03	4.39	1.05	3.41	10.93	34.44	18.51	20.64	6.60
Bench.	-	0.27	1.20	5.03	14.36	33.25	19.37	26.52	-