# Performance & Risk
## Performance Evolution (EUR)
Assets Under Management (M)
USD

### 22.43
Number of Holdings	180
Number of Issuers	147

## Fund Profile
120
115
110
105
100
95
28/02/19
28/08/19
28/02/20
28/08/20
28/02/21
28/08/21
28/02/22
ESG Rating
% of AUM covered by ESG absolute rating: Portfolio = 87.3% (not meaningful for coverage below 50%)
Portfolio* (8.29%)
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 basis of net or gross dividend. Please refer to the prospectus for more information.
| Risk Analysis |  |
| --- | --- |
|  | 1Y | 3Y | 5Y | Launch |
| Portfolio Volatility* (%) | 4.10 | 6.95 | 5.57 | 4.78 |
| Sharpe Ratio | -0.70 | 0.54 | 0.46 | 0.82 |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 28/02/21 28/02/22 | 28/02/20 28/02/21 | 28/02/19 29/02/20 | 28/02/18 28/02/19 | 28/02/17 28/02/18 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -2.40 | -5.40 | -6.39 | -4.93 | 8.29 | 7.80 | -4.06 | 2.96 | 9.63 | -0.74 | 0.29 | 41.34 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -1.48 | 7.84 | 9.23 | -4.51 | 3.36 | 5.19 | -1.03 | 7.58 | 0.28 | 12.29 |

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 |
| Name | Weighting (%) | Issuer country | Mod. Duration | Contribution |
| JPMorgan Chase & Co VAR 01/23/2029 | 2.01 | United States | 5.2 | 0.10 |
| UniCredit SpA VAR 07/03/2025 | 1.58 | Italy | 2.3 | 0.04 |
| Bank of America Corp VAR 10/22/2025 | 1.46 | United States | 2.5 | 0.04 |
| Webster Financial Corp 4.1% 03/25/2029 | 1.18 | United States | 5.9 | 0.07 |
| Anheuser-Busch InBev Worldwide 5.55% 01/23/2049 | 1.17 | Belgium | 15.0 | 0.17 |
| Amgen Inc 4.95% 10/01/2041 | 1.08 | United States | 12.8 | 0.14 |
| Teachers Insurance & Annuity 4.9% 09/15/2044 | 1.08 | United States | 13.9 | 0.15 |
| DONG Energy A/S VAR 02/18/3021 | 0.99 | Denmark | 9.2 | 0.09 |
| Credit Agricole SA/London VAR 06/16/2026 | 0.96 | France | 3.1 | 0.03 |
| Deutsche Bank AG VAR 09/03/2026 | 0.94 | Germany | 3.4 | 0.03 |
| Total (%) | 12.46 |  |  |  |

| Sector Breakdown (%) |  |
| --- | --- |
|  | Portfolio |
| Industrials | 43.48 |
| Financial | 38.50 |
| Utility | 7.94 |
| Cash | 10.07 |


## Contribution to duration by sector
5
4
3
2
1
0
|  | Industrials | Financial | Utility | Cash |
| --- | --- | --- | --- | --- |
|  | Port. | 4.0 | 1.8 | 0.6 | -0.6 |

-1

## Securities Exposure by geographical area (%)	Contribution to Duration by Geography
Portfolio
United States	49.16
France	5.54
United Kingdom	5.48
Canada	4.15
Italy	3.95
Spain	3.28
Netherlands	3.09
Germany	3.04
Sweden	1.63
Belgium	1.50
Other	9.10
Cash	10.07
4
3
2
1
United States
United Kingdom
France
Belgium
Spain
Italy
Netherlands
Canada
Sweden
Other
0
Port. 3.6	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.1	0.5

## Maturity Breakdown (%)
28
24
20
16
12
8
4
0	0-1 year	1-3 years	3-5 years	5-7 years	7-10 years	10-20 years	+20 years
Portfolio	0.87	4.75	25.93	17.60	20.15	12.34	18.36

## Rating Breakdown (%)
70
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |  |  |
|  |  |  |  |  |

60
50
40
30
20
10
| 0 | AA | A | BBB | BB | B | NR | Cash |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 1.59 | 22.93 | 59.67 | 4.72 | 0.70 | 0.32 | 10.07 |


## Currency Breakdown (%)
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |  |  |

80
60
40
20
| 0 | USD | EUR | GBP | CAD |
| --- | --- | --- | --- | --- |
| Portfolio | 70.89 | 23.30 | 4.24 | 1.57 |

Translation (ENDE, 2022-02-28):
# Wertentwicklung & Risiken
Wertentwicklung (EUR)
120
115
110
105
100
95
USD

### 22.43
Mod. Duration	5.82
| Mod. Duration To Worst | 5.96 |
| --- | --- |
| Yield-to-Worst (%) | 2.57 |
| Anzahl Positionen | 180 |

Anzahl Emittenten	147

## Fonds-Profile
ESG-Rating
% des verwalteten Vermögens, das vom absoluten ESG-Rating abgedeckt wird: Portfolio = 87.3% (nicht bedeutend bei einer Abdeckung von weniger als 50
%)
28/02/19
28/08/19
28/02/20
28/08/20
28/02/21
28/08/21
28/02/22
Portfolio* (8.29%)
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 berechnet sein. Weitere Informationen entnehmen Sie bitte dem Fondsprospekt.
| Risikoanalyse |  |
| --- | --- |
|  | 1J | 3J | 5J | Auflage |
| Portfolio Volatilität* (%) | 4.10 | 6.95 | 5.57 | 4.78 |
| Sharpe Ratio | -0.70 | 0.54 | 0.46 | 0.82 |


## Wertentwicklung (Brutto, Netto in %)
12
8
4
0
-4
|  | 28/02/2017 - | 28/02/2018 - | 28/02/2019 - | 28/02/2020 - | 28/02/2021 - |  |
| --- | --- | --- | --- | --- | --- | --- |
| 28/02/2018 | 28/02/2019 | 28/02/2020 | 28/02/2021 | 28/02/2022 |  |
|  | Brutto-Wertentwicklung | 0.29 | -0.74 | 9.63 | 2.96 | -4.06 |  |
|  | Netto-Wertentwicklung | 0.26 | -0.74 | 9.63 | 2.96 | -4.06 |  |

-8
Berechnung nach BVI-Wertermittlungsstatistik (siehe Erläuterung unter 'Wichtige Hinweise')

## Rollierende Wertentwicklung (%)
|  | 1M | 3M | 6M | YTD | 3J | 5J | 28/02/21 28/02/22 | 28/02/20 28/02/21 | 28/02/19 29/02/20 | 28/02/18 28/02/19 | 28/02/17 28/02/18 | Auflage |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -2.40 | -5.40 | -6.39 | -4.93 | 8.29 | 7.80 | -4.06 | 2.96 | 9.63 | -0.74 | 0.29 | 41.34 |

Wertentwicklung im Kalenderjahr (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -1.48 | 7.84 | 9.23 | -4.51 | 3.36 | 5.19 | -1.03 | 7.58 | 0.28 | 12.29 |

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 |
| Name | Gewichtung (%) | Investiert in | Mod. Duration | Beitrag |
| JPMorgan Chase & Co VAR 01/23/2029 | 2.01 | Vereinigte Staaten Von Amerika | 5.2 | 0.10 |
| UniCredit SpA VAR 07/03/2025 | 1.58 | Italien | 2.3 | 0.04 |
| Bank of America Corp VAR 10/22/2025 | 1.46 | Vereinigte Staaten Von Amerika | 2.5 | 0.04 |
| Webster Financial Corp 4.1% 03/25/2029 | 1.18 | Vereinigte Staaten Von Amerika | 5.9 | 0.07 |
| Anheuser-Busch InBev Worldwide 5.55% 01/23/2049 | 1.17 | Belgien | 15.0 | 0.17 |
| Amgen Inc 4.95% 10/01/2041 | 1.08 | Vereinigte Staaten Von Amerika | 12.8 | 0.14 |
| Teachers Insurance & Annuity 4.9% 09/15/2044 | 1.08 | Vereinigte Staaten Von Amerika | 13.9 | 0.15 |
| DONG Energy A/S VAR 02/18/3021 | 0.99 | Dänemark | 9.2 | 0.09 |
| Credit Agricole SA/London VAR 06/16/2026 | 0.96 | Frankreich | 3.1 | 0.03 |
| Deutsche Bank AG VAR 09/03/2026 | 0.94 | Deutschland | 3.4 | 0.03 |
| Summe (%) | 12.46 |  |  |  |


## Sektorengewichtung (%)	Beitrag zur Duration nach Sektor
Portfolio
Industrie	43.48	5
4
Finanzen	38.50	3
Versorgungsbetr.	7.94	2
Liquide Mittel	10.07	1
0
Industrie
Finanzen
Versorgungsbetr.
Cash
-1
Port.	4.0	1.8	0.6	-0.6

## Geographische Ausrichtung (%)	Beitrag zur Duration nach Land
Portfolio
Vereinigte Staaten Von Amerika	49.16
Frankreich	5.54
Großbritannien	5.48
Kanada	4.15
Italien	3.95
Spanien	3.28
Niederlande	3.09
Deutschland	3.04
Schweden	1.63
Belgien	1.50
Sonstige	9.10
Liquide Mittel	10.07
4
3
2
1
Vereinigte Staaten
Von Amerika
Großbritannien
Frankreich
Belgien
Spanien
Italien
Niederlande
Kanada
Schweden
Sonstige
0
Port. 3.6	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.1	0.5

## Engagement nach Laufzeit (%)
28
24
20
16
12
8
4
0	0-1 Jahre	1-3 Jahre	3-5 Jahre	5-7 Jahre	7-10 Jahre	10-20 Jahre	+20 Jahre
Portfolio	0.87	4.75	25.93	17.60	20.15	12.34	18.36

## Engagement nach Rating (%)
70
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |
|  |  |  |  |
|  |  |  |  |  |

60
50
40
30
20
10
| 0 | AA | A | BBB | BB | B | NR | Liquide Mittel |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 1.59 | 22.93 | 59.67 | 4.72 | 0.70 | 0.32 | 10.07 |


## Engagement nach Währung (%)
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |  |  |

80
60
40
20
| 0 | USD | EUR | GBP | CAD |
| --- | --- | --- | --- | --- |
| Portfolio | 70.89 | 23.30 | 4.24 | 1.57 |