# Performance & Risk
## Performance Evolution (USD)
|  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |

160
140
120
100
80
60
40
USD

### 215.74
Port.	Bench.
Number of Holdings	520	4430
Turnover: Rolling 1Y (%)	103	-
Active Share (%)	84	-

## 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* (23.92%)	Benchmark (36.35%)
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,
% of AUM covered by ESG absolute rating: Portfolio = 90.2% Benchmark = 92.5% (not meaningful for coverage below 50%)
| 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. | % of AUM covered by CO2 intensity indicator: Portfolio = 96.6% Benchmark = 93.5% (not meaningful for |
| --- | --- |
| coverage below 50%) |
| Risk Analysis |  |  |  |  |  |
|  | 1Y | 3Y | 5Y | Launch |  |
| Portfolio Volatility* (%) | 15.09 | 24.45 | 19.40 | 17.78 |  |
| Benchmark Volatility (%) | 15.50 | 23.45 | 18.59 | 17.72 |  |
| Relative Risk/Tracking Error  (%) | 3.11 | 3.52 | 3.12 | 3.52 |  |
| Sharpe Ratio | 2.88 | 0.29 | 0.41 | 0.41 |  |
| Information Ratio | 1.31 | -0.70 | -1.00 | 0.09 |  |


## 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* | -2.65 | -0.75 | 4.03 | 18.04 | 23.92 | 48.92 | 43.02 | -6.03 | -7.79 | -0.27 | 20.50 | 499.39 |
| Benchmark | -3.11 | -1.43 | 3.48 | 12.96 | 36.35 | 79.62 | 40.24 | 2.79 | -5.42 | 10.18 | 19.57 | 580.85 |
| Excess Return | 0.46 | 0.68 | 0.55 | 5.08 | -12.43 | -30.70 | 2.78 | -8.82 | -2.38 | -10.45 | 0.93 | -81.46 |

Annual Calendar Performance (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 4.23 | 24.48 | -22.34 | 18.98 | 10.20 | 0.58 | 2.44 | 38.70 | 20.95 | -7.72 |
| Benchmark | 16.51 | 26.99 | -14.58 | 23.11 | 10.29 | 0.54 | 2.49 | 33.06 | 16.36 | -8.77 |
| Excess Return | -12.28 | -2.52 | -7.76 | -4.13 | -0.09 | 0.04 | -0.05 | 5.64 | 4.59 | 1.05 |

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 |  |  |
| Paylocity Holding Corp | 0.91 | 0.13 | 0.78 | Information Technology | North America |
| SiteOne Landscape Supply Inc | 0.80 | 0.11 | 0.69 | Industrials | North America |
| Entegris Inc | 0.71 | 0.20 | 0.51 | Information Technology | North America |
| Deckers Outdoor Corp | 0.67 | 0.12 | 0.55 | Consumer Discretionary | North America |
| Trex Co Inc | 0.67 | 0.14 | 0.53 | Industrials | North America |
| Quanta Services Inc | 0.64 | 0.19 | 0.46 | Industrials | North America |
| Jones Lang LaSalle Inc | 0.64 | 0.15 | 0.49 | Real Estate | North America |
| TriNet Group Inc | 0.64 | 0.04 | 0.60 | Industrials | North America |
| Western Alliance Bancorp | 0.64 | 0.13 | 0.50 | Financials | North America |
| Primerica Inc | 0.60 | 0.07 | 0.53 | Financials | North America |
| Total (%) | 6.91 | 1.29 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Paylocity Holding Corp | 0.91 | 0.13 | 0.78 |  | Bill.Com Holdings Inc | 0.00 | 0.22 | -0.22 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SiteOne Landscape Supply Inc | 0.80 | 0.11 | 0.69 |  | Diamondback Energy Inc | 0.00 | 0.19 | -0.19 |
| TriNet Group Inc | 0.64 | 0.04 | 0.60 |  | Nuance Communications Inc | 0.00 | 0.19 | -0.19 |
| Mapfre SA | 0.60 | 0.03 | 0.57 |  | Floor & Decor Holdings Inc | 0.00 | 0.15 | -0.15 |
| Deckers Outdoor Corp | 0.67 | 0.12 | 0.55 |  | LPL Financial Holdings Inc | 0.00 | 0.15 | -0.15 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-3	-2	-1	0	1	2	3	4
Industrials	21.70	18.36
Consumer Discretionary	16.43	13.50
Information Technology	14.06	12.85
Financials	10.94	13.48
Health Care	10.09	11.67
Materials	7.28	6.87
Real Estate	7.19	9.78
Communication Services	3.45	3.25
Energy	3.20	3.60
Consumer Staples	3.02	4.23
Utilities	1.17	2.42
Cash	1.47	0.00

## Geographical Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Geography (%)
-1	0	1	2
North America	61.10	61.98
Europe	22.04	22.01
Japan	10.35	10.81
Pacific ex-Japan	4.96	5.05
Emerging Markets	0.08	0.15
Cash	1.47	0.00
MarketCap Breakdown (USD - %)
36
32
28
24
20
16
12
8
4
0	0 To
250mn
250mn To 500mn
500mn To 1bn
1bn To 3bn
3bn To 5bn
5bn To 10bn
10bn To 25bn
25bn To 100bn
Cash
Port.	-	2.90	6.60	31.74	19.73	26.56	10.54	0.46	1.47
Bench.	0.02	0.95	6.37	29.84	25.54	29.34	7.71	0.22	-

Translation (ENDE, 2021-09-30):
# Wertentwicklung & Risiken
Wertentwicklung (USD)
|  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |

160
140
120
100
80
60
40
USD

### 215.74
Port.	Bench.
Anzahl Positionen	520	4430
Umschlagsrate 1J (%)	103	-
Aktiver Anteil (%)	84	-

## 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* (23.92%)	Benchmark (36.35%)
Die Daten von AXA IM sind auf der Basis von 100 zum Anfangsdatum der Grafik angegeben.
| Risikoanalyse |  |
| --- | --- |
|  | 1J | 3J | 5J | Auflage |
| Portfolio Volatilität* (%) | 15.09 | 24.45 | 19.40 | 17.78 |
| Benchmark Volatilität (%) | 15.50 | 23.45 | 18.59 | 17.72 |
| Relatives Risiko/Tracking Error  (%) | 3.11 | 3.52 | 3.12 | 3.52 |
| Sharpe Ratio | 2.88 | 0.29 | 0.41 | 0.41 |
| Information Ratio | 1.31 | -0.70 | -1.00 | 0.09 |

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.
% des verwalteten Vermögens, das vom absoluten ESG-Rating abgedeckt wird: Portfolio = 90.2% Benchmark = 92.5% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)
% des verwalteten Vermögens, das vom Indikator der CO2-Intensität abgedeckt wird: Portfolio = 96.6% Benchmark = 93.5% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)

## Wertentwicklung (Brutto, Netto in %)
60
|  |  |  |  |
| --- | --- | --- | --- |
|  |  |  |  |  |

40
20
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 | 20.50 | -0.27 | -7.79 | -6.03 | 43.02 |  |
|  | Netto-Wertentwicklung | 20.50 | -0.27 | -7.79 | -6.03 | 43.02 |  |

-20
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* | -2.65 | -0.75 | 4.03 | 18.04 | 23.92 | 48.92 | 43.02 | -6.03 | -7.79 | -0.27 | 20.50 | 499.39 |
| Benchmark | -3.11 | -1.43 | 3.48 | 12.96 | 36.35 | 79.62 | 40.24 | 2.79 | -5.42 | 10.18 | 19.57 | 580.85 |
| Abstände | 0.46 | 0.68 | 0.55 | 5.08 | -12.43 | -30.70 | 2.78 | -8.82 | -2.38 | -10.45 | 0.93 | -81.46 |

Wertentwicklung im Kalenderjahr (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 4.23 | 24.48 | -22.34 | 18.98 | 10.20 | 0.58 | 2.44 | 38.70 | 20.95 | -7.72 |
| Benchmark | 16.51 | 26.99 | -14.58 | 23.11 | 10.29 | 0.54 | 2.49 | 33.06 | 16.36 | -8.77 |
| Abstände | -12.28 | -2.52 | -7.76 | -4.13 | -0.09 | 0.04 | -0.05 | 5.64 | 4.59 | 1.05 |

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 |  |  |
| Paylocity Holding Corp | 0.91 | 0.13 | 0.78 | Informatik | Nordamerika |
| SiteOne Landscape Supply Inc | 0.80 | 0.11 | 0.69 | Industrieunternehmen | Nordamerika |
| Entegris Inc | 0.71 | 0.20 | 0.51 | Informatik | Nordamerika |
| Deckers Outdoor Corp | 0.67 | 0.12 | 0.55 | Dauerh. Konsumg. | Nordamerika |
| Trex Co Inc | 0.67 | 0.14 | 0.53 | Industrieunternehmen | Nordamerika |
| Quanta Services Inc | 0.64 | 0.19 | 0.46 | Industrieunternehmen | Nordamerika |
| Jones Lang LaSalle Inc | 0.64 | 0.15 | 0.49 | Immobilien | Nordamerika |
| TriNet Group Inc | 0.64 | 0.04 | 0.60 | Industrieunternehmen | Nordamerika |
| Western Alliance Bancorp | 0.64 | 0.13 | 0.50 | Finanzen | Nordamerika |
| Primerica Inc | 0.60 | 0.07 | 0.53 | Finanzen | Nordamerika |
| Summe (%) | 6.91 | 1.29 |  |  |  |


## Top 5 übergewichtete Positionen (%)	Top 5 untergewichtete Positionen (%)
Port. Bench. Relative	Port. Bench. Relative
| Paylocity Holding Corp | 0.91 | 0.13 | 0.78 |  | Bill.Com Holdings Inc | 0.00 | 0.22 | -0.22 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SiteOne Landscape Supply Inc | 0.80 | 0.11 | 0.69 |  | Diamondback Energy Inc | 0.00 | 0.19 | -0.19 |
| TriNet Group Inc | 0.64 | 0.04 | 0.60 |  | Nuance Communications Inc | 0.00 | 0.19 | -0.19 |
| Mapfre SA | 0.60 | 0.03 | 0.57 |  | Floor & Decor Holdings Inc | 0.00 | 0.15 | -0.15 |
| Deckers Outdoor Corp | 0.67 | 0.12 | 0.55 |  | LPL Financial Holdings Inc | 0.00 | 0.15 | -0.15 |


## Sektorengewichtung (%)
Portfolio	Benchmark

## Aktives Engagement nach Sektoren (%)
-3	-2	-1	0	1	2	3	4
Industrieunternehmen	21.70	18.36
Dauerh. Konsumg.	16.43	13.50
Informatik	14.06	12.85
Finanzen	10.94	13.48
Gesundheit	10.09	11.67
Werkstoffe	7.28	6.87
Immobilien	7.19	9.78
Kommunikationsdienste	3.45	3.25
Energie	3.20	3.60
Kurzleb. Konsumg.	3.02	4.23
Öffentliche Dienste	1.17	2.42
Liquide Mittel	1.47	0.00

## Geographische Ausrichtung (%)
Portfolio	Benchmark
Nordamerika	61.10	61.98
Europa	22.04	22.01
Japan	10.35	10.81
Pazifik (ohne Japan)	4.96	5.05
Emerging Markets	0.08	0.15
Liquide Mittel	1.47	0.00

## Aktives Engagement nach geografischen Regionen (%)
-1	0	1	2

## Aufgliederung nach Marktkapitalisierung (USD - %)
35
30
25
20
15
10
5
Von 0 bis
250 Moi
Von 250 bis
500 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
Liquide
Mittel
Nicht
definiert
0
| Port. | - | 2.90 | 6.60 | 31.74 | 19.73 | 26.56 | 10.54 | 0.46 | 1.47 | - |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Bench. | 0.02 | 0.92 | 6.41 | 30.01 | 25.33 | 29.75 | 7.55 | - | - | 0.01 |