# Performance & Risk
Number of Holdings	20
Number of Issuers	5
| Performance Evolution (EUR) |  |  |  |  | Fund Profile |
| --- | --- | --- | --- | --- | --- |
| 112 |  |  |  |  |  |  | ESG Rating |
| 108 |  |  |  |  |  |  |  |
| 104 |  |  |  |  |  |  |  |
| 100 |  |  |  |  |  |  | % of AUM covered by ESG absolute rating: Portfolio = |
| 96 |  |  |  |  |  |  | 99.8% (not meaningful for coverage below 50%) |
| 92 |  |  |  |  |  |  |  |
| 88 |  |  |  |  |  |  |  |
| 28/02/19 | 28/08/19 | 28/02/20 | 28/08/20 | 28/02/21 | 28/08/21 28/02/22 |  |  |

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Portfolio* (9.59%)
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* (%) | 3.95 | 3.82 | - | 3.63 |
| Sharpe Ratio | 2.63 | 1.05 | - | 0.76 |


## 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* | 1.80 | 2.46 | 5.39 | 2.15 | 9.59 | - | 9.57 | 1.91 | -1.86 | - | - | 6.83 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 8.58 | -1.00 | -0.08 | - | - | - | - | - | - | - |

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 |
| US Treasury Inflation Idx Bonds 3.375% 04/15/2032 | 21.62 | United States | 8.9 | 1.93 |
| UK Gilt Inflation Linked 0.125% 08/10/2031 | 15.33 | United Kingdom | 9.5 | 1.46 |
| US Treasury Inflation Idx Bonds 0.125% 07/15/2031 | 12.20 | United States | 9.4 | 1.14 |
| UK Gilt Inflation Linked 1.25% 11/22/2032 | 8.48 | United Kingdom | 10.3 | 0.88 |
| German Inflation Linked Bond 0.1% 04/15/2033 | 6.80 | Germany | 11.3 | 0.77 |
| UK Gilt Inflation Linked 0.125% 11/22/2036 | 6.48 | United Kingdom | 14.8 | 0.96 |
| German Inflation Linked Bond 0.5% 04/15/2030 | 4.17 | Germany | 8.1 | 0.34 |
| France Government Bond OAT 3.15% 07/25/2032 | 4.07 | France | 9.4 | 0.38 |
| Italy (Republic of) 0.4% 05/15/2030 | 3.65 | Italy | 8.1 | 0.30 |
| France Government Bond OAT 0.1% 07/25/2031 | 3.53 | France | 9.5 | 0.34 |
| Total (%) | 86.32 |  |  |  |


## Sector Breakdown (%)	Contribution to duration by sector
Portfolio
Treasury	99.76
Cash	0.24	3
2
1
0	Treasury
Port.	2.2
| Securities Exposure by geographical area (%) |  |
| --- | --- |
|  | Portfolio |
| United States | 36.24 |
| United Kingdom | 30.29 |
| Italy | 11.34 |
| Germany | 10.97 |
| France | 10.92 |
| Cash | 0.24 |


## Contribution to Duration by Geography
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0.0
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United Kingdom
United States
Italy	France	Germany
Port.	0.8	0.7	0.3	0.2	0.2

## Maturity Breakdown (%)
60
50
40
30
20
10
0	Cash	7-10 years	10-20 years
Portfolio	0.24	42.74	57.01

## Rating Breakdown (%)
50
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| --- | --- | --- |
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40
30
20
10
| 0 | AAA | AA | BBB | Cash |
| --- | --- | --- | --- | --- |
| Portfolio | 47.21 | 41.21 | 11.34 | 0.24 |


## Currency Breakdown (%)
40
30
20
10
0	USD	EUR	GBP
Portfolio	36.33	33.31	30.36

Translation (ENDE, 2022-02-28):
# Wertentwicklung & Risiken
Wertentwicklung (EUR)
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112
108
104
100
96
92
88
EUR

### 555.67
Mod. Duration	2.21
| Mod. Duration To Worst | 2.21 |
| --- | --- |
| Yield-to-Worst (%) | -2.68 |
| Anzahl Positionen | 20 |

Anzahl Emittenten	5

## Fonds-Profile
ESG-Rating
% des verwalteten Vermögens, das vom absoluten ESG-Rating abgedeckt wird: Portfolio = 99.8% (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* (9.59%)
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* (%) | 3.95 | 3.82 | - | 3.63 |
| Sharpe Ratio | 2.63 | 1.05 | - | 0.76 |


## Wertentwicklung (Brutto, Netto in %)
12
8
4
0
|  | 28/02/2019 - 28/02/2020 | 28/02/2020 - 28/02/2021 | 28/02/2021 - 28/02/2022 |  |
| --- | --- | --- | --- | --- |
|  | Brutto-Wertentwicklung | -1.86 | 1.91 | 9.57 |  |
|  | Netto-Wertentwicklung | -1.86 | 1.91 | 9.57 |  |

-4
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* | 1.80 | 2.46 | 5.39 | 2.15 | 9.59 | - | 9.57 | 1.91 | -1.86 | - | - | 6.83 |

Wertentwicklung im Kalenderjahr (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 8.58 | -1.00 | -0.08 | - | - | - | - | - | - | - |

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 |
| US Treasury Inflation Idx Bonds 3.375% 04/15/2032 | 21.62 | Vereinigte Staaten Von Amerika | 8.9 | 1.93 |
| UK Gilt Inflation Linked 0.125% 08/10/2031 | 15.33 | Großbritannien | 9.5 | 1.46 |
| US Treasury Inflation Idx Bonds 0.125% 07/15/2031 | 12.20 | Vereinigte Staaten Von Amerika | 9.4 | 1.14 |
| UK Gilt Inflation Linked 1.25% 11/22/2032 | 8.48 | Großbritannien | 10.3 | 0.88 |
| German Inflation Linked Bond 0.1% 04/15/2033 | 6.80 | Deutschland | 11.3 | 0.77 |
| UK Gilt Inflation Linked 0.125% 11/22/2036 | 6.48 | Großbritannien | 14.8 | 0.96 |
| German Inflation Linked Bond 0.5% 04/15/2030 | 4.17 | Deutschland | 8.1 | 0.34 |
| France Government Bond OAT 3.15% 07/25/2032 | 4.07 | Frankreich | 9.4 | 0.38 |
| Italy (Republic of) 0.4% 05/15/2030 | 3.65 | Italien | 8.1 | 0.30 |
| France Government Bond OAT 0.1% 07/25/2031 | 3.53 | Frankreich | 9.5 | 0.34 |
| Summe (%) | 86.32 |  |  |  |


## Sektorengewichtung (%)	Beitrag zur Duration nach Sektor
Portfolio
Treasury	99.76
Liquide Mittel	0.24	3
2
1
0	Treasury
Port.	2.2

## Geographische Ausrichtung (%)	Beitrag zur Duration nach Land
Portfolio
Vereinigte Staaten Von Amerika	36.24
1.0
| Großbritannien | 30.29 | 0.6 |
| --- | --- | --- |
| Italien | 11.34 | 0.4 |
| Deutschland | 10.97 | 0.2 |
| Frankreich | 10.92 | 0.0 |
| Liquide Mittel | 0.24 |  |

0.8
Großbritannien
Vereinigte Staaten
Von Amerika
Italien
Frankreich
Deutschland
Port.	0.8	0.7	0.3	0.2	0.2

## Engagement nach Laufzeit (%)
60
50
40
30
20
10
0	Liquide Mittel	7-10 Jahre	10-20 Jahre
Portfolio	0.24	42.74	57.01

## Engagement nach Rating (%)
50
|  |  |  |
| --- | --- | --- |
|  |  |  |  |
|  |  |  |
|  |  |  |
|  |  |  |  |  |

40
30
20
10
0	AAA	AA	BBB	Liquide Mittel
Portfolio	47.21	41.21	11.34	0.24

## Engagement nach Währung (%)
40
30
20
10
0	USD	EUR	GBP
Portfolio	36.33	33.31	30.36