# 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* (9.38%)	Benchmark (20.97%)
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 = 92.5% Benchmark = 95.5% (not meaningful for coverage below 50%)
% of AUM covered by CO2 intensity indicator: Portfolio
= 98.4% Benchmark = 99.9% (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* (%) | 12.48 | 15.23 | 12.78 | 15.32 |  |
| Benchmark Volatility (%) | 12.24 | 14.87 | 12.35 | 15.19 |  |
| Relative Risk/Tracking Error  (%) | 2.24 | 2.71 | 2.46 | 3.16 |  |
| Sharpe Ratio | 1.77 | 0.33 | 0.59 | 0.15 |  |
| Information Ratio | 0.14 | -0.72 | -0.41 | -0.18 |  |


## 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* | 3.95 | 5.66 | 4.06 | 10.92 | 9.38 | 31.54 | 20.14 | -5.32 | -3.84 | 7.82 | 11.54 | 51.32 |
| Benchmark | 4.53 | 7.07 | 5.26 | 12.30 | 20.97 | 48.56 | 21.64 | -0.51 | -0.04 | 11.44 | 10.20 | 123.80 |
| Excess Return | -0.58 | -1.40 | -1.20 | -1.38 | -11.59 | -17.02 | -1.50 | -4.81 | -3.80 | -3.62 | 1.33 | -72.48 |

Annual Calendar Performance (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -3.44 | 21.42 | -15.62 | 12.11 | 4.25 | 26.18 | 8.38 | 17.71 | 2.26 | -10.66 |
| Benchmark | 2.86 | 21.68 | -10.29 | 10.81 | 6.94 | 23.32 | 9.84 | 20.97 | 5.87 | -9.92 |
| Excess Return | -6.31 | -0.26 | -5.33 | 1.30 | -2.69 | 2.87 | -1.46 | -3.26 | -3.60 | -0.74 |

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 |  |  |
| Toyota Motor Corp | 3.20 | 3.64 | -0.44 | Consumer Discretionary | Japan |
| Sony Group Corp | 2.69 | 2.80 | -0.12 | Consumer Discretionary | Japan |
| Mitsubishi UFJ Financial Gr... | 2.67 | 1.59 | 1.07 | Financials | Japan |
| Hoya Corp | 2.32 | 1.22 | 1.10 | Health Care | Japan |
| Recruit Holdings Co Ltd | 2.28 | 1.68 | 0.60 | Industrials | Japan |
| Keyence Corp | 2.14 | 2.36 | -0.22 | Information Technology | Japan |
| Tokyo Electron Ltd | 2.10 | 1.05 | 1.05 | Information Technology | Japan |
| Honda Motor Co Ltd | 2.04 | 0.98 | 1.06 | Consumer Discretionary | Japan |
| Murata Manufacturing Co Ltd | 1.87 | 1.05 | 0.82 | Information Technology | Japan |
| Nintendo Co Ltd | 1.81 | 1.12 | 0.69 | Communication Services | Japan |
| Total (%) | 23.10 | 17.49 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Hoya Corp | 2.32 | 1.22 | 1.10 |  | ITOCHU Corp | 0.00 | 0.81 | -0.81 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| MS&AD Insurance Group Holdings Inc | 1.41 | 0.32 | 1.08 |  | Shin-Etsu Chemical Co Ltd | 0.46 | 1.23 | -0.77 |
| Oracle Corp Japan | 1.15 | 0.07 | 1.08 |  | Mitsubishi Corp | 0.00 | 0.76 | -0.76 |
| Mitsubishi UFJ Financial Group Inc | 2.67 | 1.59 | 1.07 |  | Mizuho Financial Group Inc | 0.01 | 0.76 | -0.75 |
| Honda Motor Co Ltd | 2.04 | 0.98 | 1.06 |  | Takeda Pharmaceutical Co Ltd | 0.38 | 1.11 | -0.73 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-5	-4	-3	-2	-1	0	1	2	3	4	5
Consumer Discretionary	22.54	18.20
Industrials	20.20	24.02
Information Technology	18.31	13.57
Health Care	10.49	9.13
Communication Services	8.79	7.90
Financials	7.57	9.19
Materials	5.91	6.28
Consumer Staples	2.95	7.57
Real Estate	1.42	2.28
Energy	0.24	0.69
Utilities	0.00	1.16
Cash	1.57	0.00
MarketCap Breakdown (JPY - %)
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30bn To
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65bn To
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650bn
650bn To
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13000bn
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33000bn
Cash
0
| Port. | 2.16 | 2.52 | 6.94 | 13.22 | 4.24 | 14.48 | 9.99 | 36.85 | 8.02 | 1.57 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Bench. | 1.41 | 2.09 | 3.95 | 9.06 | 5.30 | 14.84 | 16.12 | 38.44 | 8.80 | - |

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* (9.38%)	Benchmark (20.97%)
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 = 92.5% Benchmark = 95.5% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)
% des verwalteten Vermögens, das vom Indikator der CO2-Intensität abgedeckt wird: Portfolio = 98.4%
| berechnet sein. Weitere Informationen entnehmen Risikoanalyse | Sie bitte dem Fondsprospekt. |  |  | Benchmark = 99.9% (nicht bedeutend bei einer Abdeckung von weniger als 50 %) |
| --- | --- | --- | --- | --- |
|  | 1J | 3J | 5J | Auflage |  |
| Portfolio Volatilität* (%) | 12.48 | 15.23 | 12.78 | 15.32 |  |
| Benchmark Volatilität (%) | 12.24 | 14.87 | 12.35 | 15.19 |  |
| Relatives Risiko/Tracking Error  (%) | 2.24 | 2.71 | 2.46 | 3.16 |  |
| Sharpe Ratio | 1.77 | 0.33 | 0.59 | 0.15 |  |
| Information Ratio | 0.14 | -0.72 | -0.41 | -0.18 |  |


## Wertentwicklung (Brutto, Netto in %)
30
|  |  |  |  |
| --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |

20
10
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 | 11.54 | 7.82 | -3.84 | -5.32 | 20.14 |  |
|  | Netto-Wertentwicklung | 6.74 | 7.82 | -3.84 | -5.32 | 20.14 |  |

-10
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* | 3.95 | 5.66 | 4.06 | 10.92 | 9.38 | 31.54 | 20.14 | -5.32 | -3.84 | 7.82 | 11.54 | 51.32 |
| Benchmark | 4.53 | 7.07 | 5.26 | 12.30 | 20.97 | 48.56 | 21.64 | -0.51 | -0.04 | 11.44 | 10.20 | 123.80 |
| Abstände | -0.58 | -1.40 | -1.20 | -1.38 | -11.59 | -17.02 | -1.50 | -4.81 | -3.80 | -3.62 | 1.33 | -72.48 |

Wertentwicklung im Kalenderjahr (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -3.44 | 21.42 | -15.62 | 12.11 | 4.25 | 26.18 | 8.38 | 17.71 | 2.26 | -10.66 |
| Benchmark | 2.86 | 21.68 | -10.29 | 10.81 | 6.94 | 23.32 | 9.84 | 20.97 | 5.87 | -9.92 |
| Abstände | -6.31 | -0.26 | -5.33 | 1.30 | -2.69 | 2.87 | -1.46 | -3.26 | -3.60 | -0.74 |

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 |  |  |
| Toyota Motor Corp | 3.20 | 3.64 | -0.44 | Dauerh. Konsumg. | Japan |
| Sony Group Corp | 2.69 | 2.80 | -0.12 | Dauerh. Konsumg. | Japan |
| Mitsubishi UFJ Financial Gr... | 2.67 | 1.59 | 1.07 | Finanzen | Japan |
| Hoya Corp | 2.32 | 1.22 | 1.10 | Gesundheit | Japan |
| Recruit Holdings Co Ltd | 2.28 | 1.68 | 0.60 | Industrieunternehmen | Japan |
| Keyence Corp | 2.14 | 2.36 | -0.22 | Informatik | Japan |
| Tokyo Electron Ltd | 2.10 | 1.05 | 1.05 | Informatik | Japan |
| Honda Motor Co Ltd | 2.04 | 0.98 | 1.06 | Dauerh. Konsumg. | Japan |
| Murata Manufacturing Co Ltd | 1.87 | 1.05 | 0.82 | Informatik | Japan |
| Nintendo Co Ltd | 1.81 | 1.12 | 0.69 | Kommunikationsdienste | Japan |
| Summe (%) | 23.10 | 17.49 |  |  |  |


## Top 5 übergewichtete Positionen (%)	Top 5 untergewichtete Positionen (%)
Port. Bench. Relative	Port. Bench. Relative
| Hoya Corp | 2.32 | 1.22 | 1.10 |  | ITOCHU Corp | 0.00 | 0.81 | -0.81 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| MS&AD Insurance Group Holdings Inc | 1.41 | 0.32 | 1.08 |  | Shin-Etsu Chemical Co Ltd | 0.46 | 1.23 | -0.77 |
| Oracle Corp Japan | 1.15 | 0.07 | 1.08 |  | Mitsubishi Corp | 0.00 | 0.76 | -0.76 |
| Mitsubishi UFJ Financial Group Inc | 2.67 | 1.59 | 1.07 |  | Mizuho Financial Group Inc | 0.01 | 0.76 | -0.75 |
| Honda Motor Co Ltd | 2.04 | 0.98 | 1.06 |  | Takeda Pharmaceutical Co Ltd | 0.38 | 1.11 | -0.73 |


## Sektorengewichtung (%)
Portfolio	Benchmark

## Aktives Engagement nach Sektoren (%)
-5	-4	-3	-2	-1	0	1	2	3	4	5
Dauerh. Konsumg.	22.54	18.20
Industrieunternehmen	20.20	24.02
Informatik	18.31	13.57
Gesundheit	10.49	9.13
Kommunikationsdienste	8.79	7.90
Finanzen	7.57	9.19
Werkstoffe	5.91	6.28
Kurzleb. Konsumg.	2.95	7.57
Immobilien	1.42	2.28
Energie	0.24	0.69
Öffentliche Dienste	0.00	1.16
Liquide Mittel	1.57	0.00

## Aufgliederung nach Marktkapitalisierung (JPY - %)
50
40
30
20
10
Von 0 bis 30
Mrd
Von 30 bis 65
Mrd
Von 65 bis 150
Mrd
Von 150 bis
400 Mrd
Von 400 bis
650 Mrd
Von 650 bis
1500 Mrd
Von 1500 bis
3000 Mrd
Von 3000 bis
13000 Mrd
Von 13000 bis
33000 Mrd
Liquide Mittel
0
| Port. | 2.16 | 2.52 | 6.94 | 13.22 | 4.24 | 14.48 | 9.99 | 36.85 | 8.02 | 1.57 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Bench. | 1.41 | 2.09 | 3.95 | 9.06 | 5.30 | 14.84 | 16.12 | 38.44 | 8.80 | - |