# Performance & Risk
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## Performance Evolution (USD)
175
150
125
100
75
50
USD

### 109.20
Port.	Bench.
Number of Holdings	253	1822
Turnover: Rolling 1Y (%)	138	-
Active Share (%)	89	-

## 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* (30.68%)	Benchmark (35.08%)
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 = 55.0% Benchmark = 68.4% (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 = 94.2% Benchmark = 95.3% (not meaningful for |
| --- | --- |
| coverage below 50%) |
| Risk Analysis |  |  |  |  |  |
|  | 1Y | 3Y | 5Y | Launch |  |
| Portfolio Volatility* (%) | 16.66 | 22.34 | 19.74 | 22.18 |  |
| Benchmark Volatility (%) | 17.21 | 22.25 | 19.41 | 22.31 |  |
| Relative Risk/Tracking Error  (%) | 4.38 | 4.91 | 4.43 | 7.18 |  |
| Sharpe Ratio | -0.79 | 0.44 | 0.17 | 0.41 |  |
| Information Ratio | 0.69 | 0.00 | 0.01 | 0.53 |  |


## 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* | 1.61 | -7.22 | -10.51 | -14.30 | 30.68 | 18.41 | -13.79 | 37.03 | 10.62 | -11.70 | 2.62 | 858.39 |
| Benchmark | 1.74 | -5.30 | -9.75 | -16.99 | 35.08 | 24.66 | -15.83 | 37.93 | 16.35 | -10.86 | 3.53 | 428.60 |
| Excess Return | -0.13 | -1.92 | -0.76 | 2.70 | -4.40 | -6.25 | 2.04 | -0.91 | -5.73 | -0.84 | -0.91 | 429.80 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 19.08 | 17.30 | 11.32 | -14.88 | 23.31 | 11.89 | -3.25 | -4.54 | 10.31 | 34.56 |
| Benchmark | 18.79 | 25.99 | 10.57 | -17.89 | 24.40 | -0.89 | 0.47 | -3.88 | 0.09 | 15.36 |
| Excess Return | 0.29 | -8.69 | 0.75 | 3.01 | -1.09 | 12.78 | -3.73 | -0.66 | 10.22 | 19.20 |

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 |  |  |
| Incitec Pivot Ltd | 1.50 | 0.45 | 1.05 | Materials | Australia |
| ALS Ltd | 1.47 | 0.32 | 1.15 | Industrials | Australia |
| Fletcher Building Ltd | 1.25 | 0.24 | 1.01 | Materials | New Zealand |
| Posco International Corp | 1.22 | 0.09 | 1.13 | Industrials | South Korea |
| Metcash Ltd | 1.21 | 0.24 | 0.97 | Consumer Staples | Australia |
| Simplo Technology Co Ltd | 1.20 | 0.14 | 1.07 | Information Technology | Taiwan |
| Beach Energy Ltd | 1.20 | 0.16 | 1.04 | Energy | Australia |
| National Storage REIT | 1.20 | 0.15 | 1.05 | Real Estate | Australia |
| Hanwha Corp | 1.19 | 0.10 | 1.09 | Industrials | South Korea |
| JB Hi-Fi Ltd | 1.19 | 0.28 | 0.91 | Consumer Discretionary | Australia |
| Total (%) | 12.64 | 2.17 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| ALS Ltd | 1.47 | 0.32 | 1.15 |  | OZ Minerals Ltd | 0.00 | 0.51 | -0.51 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Posco International Corp | 1.22 | 0.09 | 1.13 |  | Lynas Rare Earths Ltd | 0.00 | 0.48 | -0.48 |
| Alliance Global Group Inc | 1.15 | 0.04 | 1.10 |  | Atlas Arteria Ltd | 0.00 | 0.46 | -0.46 |
| Hanwha Corp | 1.19 | 0.10 | 1.09 |  | carsales.com Ltd | 0.00 | 0.45 | -0.45 |
| Simplo Technology Co Ltd | 1.20 | 0.14 | 1.07 |  | Whitehaven Coal Ltd | 0.00 | 0.44 | -0.44 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-4	-3	-2	-1	0	1	2	3	4	5
Materials	19.37	15.27
Information Technology	17.50	15.92
Industrials	12.99	14.85
Consumer Discretionary	11.01	12.14
Financials	9.75	9.67
Consumer Staples	7.02	4.65
Real Estate	6.32	9.52
Energy	5.81	2.83
Health Care	4.38	7.98
Utilities	2.48	2.79
Communication Services	1.66	4.40
Cash	1.70	0.00

## Geographical Breakdown (%)
Portfolio	Benchmark
Australia	20.41	22.84
India	20.11	19.87
Taiwan	17.72	17.20
South Korea	14.68	12.10
Hong Kong	7.85	6.29
China	5.73	5.49
Singapore	3.45	4.57
Thailand	2.40	3.28
Philippines	1.71	0.80
New Zealand	1.60	2.46
Indonesia	1.19	2.26
Malaysia	1.04	2.44
Other	0.40	0.41
Cash	1.70	0.00

## Active Exposure by Geography (%)
-3	-2	-1	0	1	2	3
MarketCap Breakdown (USD - %)
55
50
45
40
35
30
25
20
15
10
5
0	0 To 250mn	250mn To 500mn	500mn To 1bn	1bn To 3bn	3bn To 5bn	5bn To 10bn	Cash
Port.	5.06	8.39	19.91	44.38	16.10	4.46	1.70
Bench.	0.12	5.90	23.39	50.96	14.82	4.81	-

Translation (ENDE, 2022-08-31):
# Wertentwicklung & Risiken
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Wertentwicklung (USD)
175
150
125
100
75
50
USD

### 109.20
Port.	Bench.
Anzahl Positionen	253	1822
Umschlagsrate 1J (%)	138	-
Aktiver Anteil (%)	89	-

## 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* (30.68%)	Benchmark (35.08%)
Die Daten von AXA IM sind auf der Basis von 100 zum Anfangsdatum der Grafik angegeben.
| Risikoanalyse |  |
| --- | --- |
|  | 1J | 3J | 5J | Auflage |
| Portfolio Volatilität* (%) | 16.66 | 22.34 | 19.74 | 22.18 |
| Benchmark Volatilität (%) | 17.21 | 22.25 | 19.41 | 22.31 |
| Relatives Risiko/Tracking Error  (%) | 4.38 | 4.91 | 4.43 | 7.18 |
| Sharpe Ratio | -0.79 | 0.44 | 0.17 | 0.41 |
| Information Ratio | 0.69 | 0.00 | 0.01 | 0.53 |

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 = 55.0% Benchmark = 68.4% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)
% des verwalteten Vermögens, das vom Indikator der CO2-Intensität abgedeckt wird: Portfolio = 94.2% Benchmark = 95.3% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)

## Wertentwicklung (Brutto, Netto in %)
40
20
0
|  | 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 | 2.62 | -11.70 | 10.62 | 37.03 | -13.79 |
| Netto-Wertentwicklung | 2.62 | -11.70 | 10.62 | 37.03 | -13.79 |

-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* | 1.61 | -7.22 | -10.51 | -14.30 | 30.68 | 18.41 | -13.79 | 37.03 | 10.62 | -11.70 | 2.62 | 858.39 |
| Benchmark | 1.74 | -5.30 | -9.75 | -16.99 | 35.08 | 24.66 | -15.83 | 37.93 | 16.35 | -10.86 | 3.53 | 428.60 |
| Abstände | -0.13 | -1.92 | -0.76 | 2.70 | -4.40 | -6.25 | 2.04 | -0.91 | -5.73 | -0.84 | -0.91 | 429.80 |

Wertentwicklung im Kalenderjahr (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 19.08 | 17.30 | 11.32 | -14.88 | 23.31 | 11.89 | -3.25 | -4.54 | 10.31 | 34.56 |
| Benchmark | 18.79 | 25.99 | 10.57 | -17.89 | 24.40 | -0.89 | 0.47 | -3.88 | 0.09 | 15.36 |
| Abstände | 0.29 | -8.69 | 0.75 | 3.01 | -1.09 | 12.78 | -3.73 | -0.66 | 10.22 | 19.20 |

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 |  |  |
| Incitec Pivot Ltd | 1.50 | 0.45 | 1.05 | Werkstoffe | Australien |
| ALS Ltd | 1.47 | 0.32 | 1.15 | Industrieunternehmen | Australien |
| Fletcher Building Ltd | 1.25 | 0.24 | 1.01 | Werkstoffe | Neuseeland |
| Posco International Corp | 1.22 | 0.09 | 1.13 | Industrieunternehmen | Südkorea |
| Metcash Ltd | 1.21 | 0.24 | 0.97 | Kurzleb. Konsumg. | Australien |
| Simplo Technology Co Ltd | 1.20 | 0.14 | 1.07 | Informatik | Taiwan |
| Beach Energy Ltd | 1.20 | 0.16 | 1.04 | Energie | Australien |
| National Storage REIT | 1.20 | 0.15 | 1.05 | Immobilien | Australien |
| Hanwha Corp | 1.19 | 0.10 | 1.09 | Industrieunternehmen | Südkorea |
| JB Hi-Fi Ltd | 1.19 | 0.28 | 0.91 | Dauerh. Konsumg. | Australien |
| Summe (%) | 12.64 | 2.17 |  |  |  |


## Top 5 übergewichtete Positionen (%)	Top 5 untergewichtete Positionen (%)
Port. Bench. Relative	Port. Bench. Relative
| ALS Ltd | 1.47 | 0.32 | 1.15 |  | OZ Minerals Ltd | 0.00 | 0.51 | -0.51 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Posco International Corp | 1.22 | 0.09 | 1.13 |  | Lynas Rare Earths Ltd | 0.00 | 0.48 | -0.48 |
| Alliance Global Group Inc | 1.15 | 0.04 | 1.10 |  | Atlas Arteria Ltd | 0.00 | 0.46 | -0.46 |
| Hanwha Corp | 1.19 | 0.10 | 1.09 |  | carsales.com Ltd | 0.00 | 0.45 | -0.45 |
| Simplo Technology Co Ltd | 1.20 | 0.14 | 1.07 |  | Whitehaven Coal Ltd | 0.00 | 0.44 | -0.44 |


## Sektorengewichtung (%)
Portfolio	Benchmark

## Aktives Engagement nach Sektoren (%)
-4	-3	-2	-1	0	1	2	3	4	5
Werkstoffe	19.37	15.27
Informatik	17.50	15.92
Industrieunternehmen	12.99	14.85
Dauerh. Konsumg.	11.01	12.14
Finanzen	9.75	9.67
Kurzleb. Konsumg.	7.02	4.65
Immobilien	6.32	9.52
Energie	5.81	2.83
Gesundheit	4.38	7.98
Öffentliche Dienste	2.48	2.79
Kommunikationsdienste	1.66	4.40
Liquide Mittel	1.70	0.00

## Geographische Ausrichtung (%)
Portfolio	Benchmark
Australien	20.41	22.84
Indien	20.11	19.87
Taiwan	17.72	17.20
Südkorea	14.68	12.10
Hong-Kong	7.85	6.29
China	5.73	5.49
Singapur	3.45	4.57
Thailand	2.40	3.28
Philippinen	1.71	0.80
Neuseeland	1.60	2.46
Indonesien	1.19	2.26
Malaysia	1.04	2.44
Sonstige	0.40	0.41
Liquide Mittel	1.70	0.00

## Aktives Engagement nach geografischen Regionen (%)
-3	-2	-1	0	1	2	3

## Aufgliederung nach Marktkapitalisierung (USD - %)
55
50
45
40
35
30
25
20
15
10
5
0	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	Liquide Mittel
Port.	5.06	8.39	19.91	44.38	16.10	4.46	1.70
Bench.	0.12	5.90	23.39	50.96	14.82	4.81	-