# AXA WF Euro Short Duration Bonds A EUR
## Benchmark
Since: 31/10/2018
100% FTSE Euro Broad Investment-Grade Bond Index 1-5y
| Fund Key Metrics |  |
| --- | --- |
|  | Port. | Bench. |
| Linear Average Rating | A- | A+ |
| Mod. Duration | 2.47 | 2.84 |
| Mod. Duration To Worst | 2.48 | 2.85 |
| Yield To Worst (%) | 0.55 | 0.24 |
| Number of Holdings | 145 | 2889 |
| Number of Issuers | 95 | 608 |
| Fund Profile |  |  |
| ESG Rating |  |  |
| ESG Relative Rating |  |  |

% of AUM covered by ESG absolute rating: Portfolio = 95.8% Benchmark = 98.6% (not meaningful for coverage below 50%)
| Key Figures (EUR)* Fund Cumulative Performance (%)		Current NAV YTD	1Y	3Y	10Y	Launch	Acc.		Inc. -1.25	-1.80	-0.26	+10.94	+37.96	137.96	104.33 Fund Annualized Performance (%)	Assets Under Management (M) 3 Y.	5 Y.	10 Y.	Launch		EUR -0.09	-0.60	+1.04	+2.05	226.40 Dividend Record |  |
| --- | --- |
|  | Record Date | Ex-Date | Dividend per Share | 12 month Yield (%) |
| Jun 2014 | 05/06/2014 | 06/06/2014 | 3.03 | 2.81 |
| Jun 2015 | 05/06/2015 | 08/06/2015 | 3.06 | 2.87 |
| Jun 2016 | 10/06/2016 | 13/06/2016 | 0.82 | 0.76 |
| Dec 2016 | 29/12/2016 | 30/12/2016 | 0.24 | 0.99 |
| 12 Month Yield = (Sum of Dividends) / (Ending NAV). The 12 Month yield is calculated based on the sum of the |
| distributions over the previous 12 months and the latest NAV. The 12 month yield may be higher or lower than |
| the actual annual dividend yield. A positive distribution yield does not imply positive return. Dividends are not |
| guaranteed. Past dividends are not indicative of future dividends. |
| Please note that a positive distribution yield does not imply a positive return. Investors should not make any |
| investment decision solely based on information contained in the table above. You should read the relevant |
| offering document (including the key facts statement) of the fund for further details including the risk factors. |
| Performance & Risk |
| Performance Evolution (EUR) |
| 103 |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
| 102 |
|  |  |  |  |  |  |  |
| 101 |
|  |  |  |  |  |  |  |
| 100 |
|  |  |  |  |  |  |  |
| 99 |
|  |  |  |  |  |  |  |
| 98 |
| 28/02/19 | 28/08/19 | 28/02/20 | 28/08/20	28/02/21 | 28/08/21 28/02/22 |  |
| Portfolio* (-0.26%)	Benchmark (-0.16%) |  |
| 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* (%) | 1.17 | 1.81 | 1.59 | 2.23 |
| Benchmark Volatility (%) | 1.20 | 1.50 | 1.32 | 2.12 |
| Relative Risk/Tracking Error  (%) | 0.41 | 0.60 | 0.62 | 0.78 |
| Sharpe Ratio | -0.39 | 0.66 | 0.41 | 0.96 |
| Information Ratio | 1.58 | 1.36 | 0.34 | -0.03 |
| Rolling Performance (%) |  |  |  |  |
| 1M	3M	6M	YTD	3Y	5Y	28/02/21	28/02/20	28/02/19	28/02/18	28/02/17	Launch |
|  |  |  |  |  |  |  | 28/02/22 | 28/02/21 | 29/02/20 | 28/02/19 | 28/02/18 |  |
| Portfolio* | -0.83 | -1.34 | -1.74 | -1.25 | -0.26 | -2.99 | -1.80 | 0.33 | 1.24 | -1.98 | -0.77 | 37.96 |
| Benchmark | -0.78 | -1.54 | -1.88 | -1.24 | -0.16 | 0.15 | -1.61 | 0.03 | 1.44 | 0.23 | 0.09 | 56.28 |
| Excess Return | -0.05 | 0.20 | 0.14 | -0.01 | -0.10 | -3.14 | -0.19 | 0.30 | -0.20 | -2.21 | -0.85 | -18.32 |


## Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -0.90 | 0.71 | 1.33 | -2.49 | -0.28 | 1.08 | 0.29 | 5.77 | 1.74 | 7.47 |
| Benchmark | -0.72 | 0.73 | 1.27 | -0.17 | 0.33 | 1.83 | 1.11 | 5.30 | 2.38 | 8.86 |
| Excess Return | -0.18 | -0.02 | 0.06 | -2.32 | -0.61 | -0.75 | -0.81 | 0.48 | -0.63 | -1.39 |
| 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 |
| Italy (Republic of) 1.85% 07/01/2025 | 5.51 | Italy | 3.2 | 0.18 |
| Italy (Republic of) 4.5% 03/01/2024 | 4.42 | Italy | 1.9 | 0.09 |
| Italy (Republic of) 12/15/2024 | 4.02 | Italy | 2.8 | 0.11 |
| France Government Bond OAT 1.75% 11/25/2024 | 3.94 | France | 2.7 | 0.11 |
| Spain Government Bond 1.6% 04/30/2025 | 2.20 | Spain | 3.1 | 0.07 |
| Spain Government Bond 4.8% 01/31/2024 | 2.09 | Spain | 1.9 | 0.04 |
| Belgium Government Bond 0.5% 10/22/2024 | 1.81 | Belgium | 2.6 | 0.05 |
| Austria Government Bond 1.2% 10/20/2025 | 1.63 | Austria | 3.6 | 0.06 |
| Ireland Government Bond 3.4% 03/18/2024 | 1.47 | Ireland | 2.0 | 0.03 |
| ADIF Alta Velocidad 3.5% 05/27/2024 | 1.46 | Spain | 2.1 | 0.03 |
| Total (%) | 28.56 |  |  |  |

Sector Breakdown (%)
|  | Portfolio | Benchmark |
| --- | --- | --- |
| Sovereign | 30.08 | 49.78 |
| Financial | 20.93 | 11.67 |
| Industrials | 19.40 | 13.13 |

Quasi & Foreign Gvt	18.90	15.48
Utility	4.97	1.99
Covered	2.72	7.92
Other	0.29	0.02
Cash	2.72	0.00

## Contribution to duration by sector
1.5
1.2
0.9
0.6
0.3
Sovereign
Quasi &
Foreign Gvt
Financial
Industrials
Utility
Other
0.0
Port.	0.7	0.6	0.6	0.5	0.1	-
Bench.	1.4	0.4	0.3	0.4	0.1	0.2

## Securities Exposure by geographical area (%)	Contribution to Duration by Geography
Portfolio	Benchmark
France	24.08	22.04
Italy	19.99	14.77
Spain	14.65	10.09
Germany	6.54	19.29
United States	4.93	4.16
Netherlands	3.93	4.75
Supra National	3.64	5.34
Belgium	3.35	2.86
United Kingdom	2.80	2.62
Ireland	2.51	1.15
Other	10.87	7.05
Cash	2.72	0.00
0.8
0.6
0.4
0.2
Germany
Italy
Spain
Supra National
Netherlands
United States
Belgium
United Kingdom
France
Other
0.0
Port.	0.7	0.5	0.4	0.1	0.1	0.1	0.1	0.1	0.1	0.3
Bench. 0.5	0.4	0.3	0.2	0.1	0.1	0.1	0.1	0.6	0.4

## Maturity Breakdown (%)
60
50
40
30
20
10
0	0-1 year	1-3 years	3-5 years	5-7 years	7-10 years	+20 years
Portfolio	4.92	49.85	35.35	4.40	3.75	1.72
Benchmark	0.50	50.36	47.60	0.67	0.52	0.35

## Rating Breakdown (%)
60
50
40
30
20
10
0	AAA	AA	A	BBB	BB	NR	Cash
Portfolio	6.42	19.50	15.87	52.02	3.13	0.35	2.72
Benchmark	24.60	28.88	15.46	30.52	0.54	-	-

## Currency Breakdown (%)
120
100
80
60
40
20
0
EUR
Portfolio	100.00
Benchmark	100.00

Translation (ENDE, 2022-02-28):
# AXA WF Euro Short Duration Bonds A EUR
## Benchmark
Schon seit: 31/10/2018
100% FTSE Euro Broad Investment-Grade Bond Index 1-5y

## Fondsindikatoren
Port.  Bench.
| Kennzahlen (EUR)* Kumulative Wertentwicklung des Fonds (%)		Aktueller NAV YTD	1J	3J	10J	Auflage	Acc		Aus. -1.25	-1.80	-0.26	+10.94	+37.96	137.96	104.33 Annualisierte Wertentwicklung des Fonds (%)	Nettovermögen (M) 3 J.	5 J.	10 J.	Auflage		EUR -0.09	-0.60	+1.04	+2.05	226.40 Dividendenentwicklung |  |
| --- | --- |
|  | Stichtag | ex-Datum |  | Dividende | 12-Monats-Rendite |
|  |  |  |  | je Anteil |  |
| Jun 2014 | 05/06/2014 | 06/06/2014 |  | 3.03 | 2.81 |
| Jun 2015 | 05/06/2015 | 08/06/2015 |  | 3.06 | 2.87 |
| Jun 2016 | 10/06/2016 | 13/06/2016 |  | 0.82 | 0.76 |
| Dez 2016 | 29/12/2016 | 30/12/2016 |  | 0.24 | 0.99 |
| 12-Monatsrendite = (Summe der Dividenden) / (Schluss-NIW). Die 12-Monatsrendite wird basierend auf der |
| Summe der Ausschüttungen in den vorherigen 12 Monaten und dem letzten NIW berechnet. Die |
| 12-Monatsrendite kann höher oder niedriger als die tatsächliche jährliche Dividendenrendite sein. Eine positive |
| Ausschüttungsrendite ist nicht mit einem positiven Gesamtertrag gleichzusetzen. Die Dividenden sind nicht |
| garantiert. Aus den Dividenden in der Vergangenheit kann nicht auf die künftigen Dividenden geschlossen |
| Bitte beachten Sie, dass eine positive Ausschüttungsrendite nicht unbedingt mit einem positiven Gesamtertrag |
| gleichzusetzen ist. Anleger sollten sich bei Anlageentscheidungen nicht ausschließlich auf die in der obigen |
| Tabelle enthaltenen Informationen verlassen. Sie sollten das Angebotsdokument (einschließlich der Eckdaten) |
| des Fonds lesen, das weitere Einzelheiten enthält, unter anderem zu den Risikofaktoren. |
| Wertentwicklung & Risiken |
| Wertentwicklung (EUR) |
| 103 |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
| 102 |
|  |  |  |  |  |  |  |
| 101 |
|  |  |  |  |  |  |  |
| 100 |
|  |  |  |  |  |  |  |
| 99 |
|  |  |  |  |  |  |  |
| 98 |
| 28/02/19 | 28/08/19 | 28/02/20 | 28/08/20 | 28/02/21 | 28/08/21 28/02/22 |  |
| Portfolio* (-0.26%)	Benchmark (-0.16%) |  |
| 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. |  |

| Durchschnittliches Rating (Linear) | A- | A+ |
| --- | --- | --- |
| Mod. Duration | 2.47 | 2.84 |
| Mod. Duration To Worst | 2.48 | 2.85 |
| Yield-to-Worst (%) | 0.55 | 0.24 |
| Anzahl Positionen | 145 | 2889 |
| Anzahl Emittenten | 95 | 608 |
| Fonds-Profile |  |  |
| ESG-Rating |  |  |
| Relatives ESG Rating |  |  |

% des verwalteten Vermögens, das vom absoluten ESG-Rating abgedeckt wird: Portfolio = 95.8% Benchmark = 98.6% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)
| Risikoanalyse |  |
| --- | --- |
|  | 1J | 3J | 5J | Auflage |
| Portfolio Volatilität* (%) | 1.17 | 1.81 | 1.59 | 2.23 |
| Benchmark Volatilität (%) | 1.20 | 1.50 | 1.32 | 2.12 |
| Relatives Risiko/Tracking Error  (%) | 0.41 | 0.60 | 0.62 | 0.78 |
| Sharpe Ratio | -0.39 | 0.66 | 0.41 | 0.96 |
| Information Ratio | 1.58 | 1.36 | 0.34 | -0.03 |
| Wertentwicklung (Brutto, Netto in %) |  |  |  |  |

2
0
-2
| -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 | -0.77 | -1.98 | 1.24 | 0.33 | -1.80 |
| Netto-Wertentwicklung | -3.66 | -1.98 | 1.24 | 0.33 | -1.80 |

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* | -0.83 | -1.34 | -1.74 | -1.25 | -0.26 | -2.99 | -1.80 | 0.33 | 1.24 | -1.98 | -0.77 | 37.96 |
| Benchmark | -0.78 | -1.54 | -1.88 | -1.24 | -0.16 | 0.15 | -1.61 | 0.03 | 1.44 | 0.23 | 0.09 | 56.28 |
| Abstände | -0.05 | 0.20 | 0.14 | -0.01 | -0.10 | -3.14 | -0.19 | 0.30 | -0.20 | -2.21 | -0.85 | -18.32 |

Wertentwicklung im Kalenderjahr (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -0.90 | 0.71 | 1.33 | -2.49 | -0.28 | 1.08 | 0.29 | 5.77 | 1.74 | 7.47 |
| Benchmark | -0.72 | 0.73 | 1.27 | -0.17 | 0.33 | 1.83 | 1.11 | 5.30 | 2.38 | 8.86 |
| Abstände | -0.18 | -0.02 | 0.06 | -2.32 | -0.61 | -0.75 | -0.81 | 0.48 | -0.63 | -1.39 |

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 |
| Italy (Republic of) 1.85% 07/01/2025 | 5.51 | Italien | 3.2 | 0.18 |
| Italy (Republic of) 4.5% 03/01/2024 | 4.42 | Italien | 1.9 | 0.09 |
| Italy (Republic of) 12/15/2024 | 4.02 | Italien | 2.8 | 0.11 |
| France Government Bond OAT 1.75% 11/25/2024 | 3.94 | Frankreich | 2.7 | 0.11 |
| Spain Government Bond 1.6% 04/30/2025 | 2.20 | Spanien | 3.1 | 0.07 |
| Spain Government Bond 4.8% 01/31/2024 | 2.09 | Spanien | 1.9 | 0.04 |
| Belgium Government Bond 0.5% 10/22/2024 | 1.81 | Belgien | 2.6 | 0.05 |
| Austria Government Bond 1.2% 10/20/2025 | 1.63 | Österreich | 3.6 | 0.06 |
| Ireland Government Bond 3.4% 03/18/2024 | 1.47 | Irland | 2.0 | 0.03 |
| ADIF Alta Velocidad 3.5% 05/27/2024 | 1.46 | Spanien | 2.1 | 0.03 |
| Summe (%) | 28.56 |  |  |  |


## Sektorengewichtung (%)	Beitrag zur Duration nach Sektor
Portfolio	Benchmark
Sovereign	30.08	49.78
Finanzen	20.93	11.67
Industrie	19.40	13.13
Quasi & Foreign Gvt	18.90	15.48
1.5
1.2
0.9
0.6
0.3
Sovereign
Quasi & Foreign
Gvt
Finanzen
Industrie
Versorgungsbetr.
Sonstige
0.0
| Versorgungsbetr. | 4.97 | 1.99 |  |
| --- | --- | --- | --- |
| Covered | 2.72 | 7.92 |
| Sonstige | 0.29 | 0.02 |
| Liquide Mittel | 2.72 | 0.00 |  | Port. | 0.7 | 0.6 | 0.6 | 0.5 | 0.1 | - |
|  |  |  |  | Bench. | 1.4 | 0.4 | 0.3 | 0.4 | 0.1 | 0.2 |

|  | Portfolio | Benchmark |
| --- | --- | --- |
| Frankreich | 24.08 | 22.04 |
| Italien | 19.99 | 14.77 |
| Spanien | 14.65 | 10.09 |
| Deutschland | 6.54 | 19.29 |


## Geographische Ausrichtung (%)
Beitrag zur Duration nach Land
0.8
0.6
0.4
0.2
Deutschland
Italien
Spanien
Supranational
Niederlande
Vereinigte Staaten
Von Amerika
Belgien
Großbritannien
Frankreich
Sonstige
0.0
| Vereinigte Staaten Von Amerika | 4.93 | 4.16 |  |
| --- | --- | --- | --- |
| Niederlande | 3.93 | 4.75 |
| Supranational | 3.64 | 5.34 |
| Belgien | 3.35 | 2.86 |  | Port. | 0.7 | 0.5 | 0.4 | 0.1	0.1 | 0.1 | 0.1 | 0.1	0.1	0.3 |
| Großbritannien | 2.80 | 2.62 |  | Bench. | 0.5 | 0.4 | 0.3 | 0.2	0.1 | 0.1 | 0.1 | 0.1	0.6	0.4 |
| Irland | 2.51 | 1.15 |  |
| Sonstige | 10.87 | 7.05 |
| Liquide Mittel | 2.72 | 0.00 |
| Engagement nach Laufzeit (%) |  |  |

60
50
40
30
20
10
| 0 | 0-1 Jahre | 1-3 Jahre | 3-5 Jahre | 5-7 Jahre | 7-10 Jahre | +20 Jahre |
| --- | --- | --- | --- | --- | --- | --- |
| Portfolio | 4.92 | 49.85 | 35.35 | 4.40 | 3.75 | 1.72 |
| Benchmark | 0.50 | 50.36 | 47.60 | 0.67 | 0.52 | 0.35 |


## Engagement nach Rating (%)
60
50
40
30
20
10
0	AAA	AA	A	BBB	BB	NR	Liquide Mittel
Portfolio	6.42	19.50	15.87	52.02	3.13	0.35	2.72
Benchmark	24.60	28.88	15.46	30.52	0.54	-	-

## Engagement nach Währung (%)
120
100
80
60
40
20
0
EUR
Portfolio	100.00
Benchmark	100.00