# Performance & Risk
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## Performance Evolution (EUR)
160
140
120
100
80
60
USD
271.33
Port.	Bench.
Number of Holdings	61	10979
Turnover: Rolling 1Y (%)	33	-
Active Share (%)	99	-

## 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* (2.00%)	Benchmark (32.94%)
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 = 99.8% Benchmark = 88.9% (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 = 92.4% Benchmark = 95.6% (not meaningful for |
| --- | --- |
| coverage below 50%) |
| Risk Analysis |  |  |  |  |  |
|  | 1Y | 3Y | 5Y | Launch |  |
| Portfolio Volatility* (%) | 25.47 | 21.61 | 18.62 | 15.46 |  |
| Benchmark Volatility (%) | 20.03 | 20.50 | 18.22 | 15.22 |  |
| Relative Risk/Tracking Error  (%) | 9.89 | 9.21 | 7.81 | 6.60 |  |
| Sharpe Ratio | -0.82 | 0.14 | 0.28 | 0.64 |  |
| Information Ratio | -1.66 | -0.79 | -0.46 | -0.10 |  |


## 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* | -5.10 | 0.20 | -6.06 | -21.84 | 2.00 | 14.60 | -23.05 | 33.29 | -0.56 | -2.19 | 14.87 | 103.30 |
| Benchmark | -1.11 | 1.39 | -0.97 | -7.20 | 32.94 | 49.77 | -5.08 | 41.63 | -1.11 | -3.28 | 16.48 | 160.70 |
| Excess Return | -3.99 | -1.19 | -5.09 | -14.64 | -30.94 | -35.17 | -17.97 | -8.33 | 0.55 | 1.09 | -1.61 | -57.40 |

Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 13.11 | 9.77 | 20.07 | -7.58 | 13.67 | 1.93 | 19.28 | 16.56 | - | - |
| Benchmark | 23.66 | 6.13 | 26.95 | -10.42 | 8.71 | 14.10 | 10.68 | 15.52 | - | - |
| Excess Return | -10.55 | 3.64 | -6.89 | 2.84 | 4.95 | -12.17 | 8.60 | 1.04 | - | - |

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 |  |  |
| Switch Inc | 3.50 | 0.05 | 3.45 | Information Technology | USA |
| Gsi Group Inc | 3.38 | 0.05 | 3.33 | Information Technology | USA |
| Edenred | 3.37 | 0.13 | 3.24 | Industrials | France |
| Badger Meter Inc | 3.18 | 0.03 | 3.16 | Information Technology | USA |
| ICON PLC | 3.06 | - | 3.06 | Health Care | USA |
| MGP Ingredients Inc | 2.90 | 0.01 | 2.89 | Consumer Staples | USA |
| Tetra Tech Inc | 2.80 | 0.08 | 2.72 | Industrials | USA |
| CyberArk Software Ltd | 2.43 | - | 2.43 | Information Technology | Israel |
| Nihon M&A Center Holdings Inc | 2.39 | - | 2.39 | Industrials | Japan |
| IDP Education Ltd | 2.27 | - | 2.27 | Consumer Discretionary | Australia |
| Total (%) | 29.28 | 0.35 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Switch Inc | 3.50 | 0.05 | 3.45 |  | Devon Energy Corp | 0.00 | 0.45 | -0.45 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Gsi Group Inc | 3.38 | 0.05 | 3.33 |  | VICI Properties Inc | 0.00 | 0.33 | -0.33 |
| Edenred | 3.37 | 0.13 | 3.24 |  | ON Semiconductor Corp | 0.00 | 0.31 | -0.31 |
| Badger Meter Inc | 3.18 | 0.03 | 3.16 |  | Constellation Energy Corp | 0.00 | 0.27 | -0.27 |
| ICON PLC | 3.06 | 0.00 | 3.06 |  | Cabot Oil & Gas Corp | 0.00 | 0.26 | -0.26 |


## Sector Breakdown (%)
Portfolio	Benchmark

## Active Exposure by Sector (%)
-9	-6	-3	0	3	6	9	12	15	18	21
Information Technology	30.73	13.08
Industrials	17.53	17.98
Health Care	13.08	10.59
Consumer Discretionary	12.46	11.14
Financials	9.40	13.12
Communication Services	4.79	3.18
Consumer Staples	4.76	4.36
Real Estate	3.82	8.65
Materials	1.38	8.23
Not classified	0.00	0.01
Utilities	0.00	3.72
Energy	0.00	5.93
Cash	2.05	0.00

## Geographical Breakdown (%)
Portfolio	Benchmark
USA	56.89	60.03
Japan	7.87	6.46
France	6.87	1.88
United Kingdom	5.16	3.27
Italy	4.71	0.65
Australia	4.31	2.05
Israel	2.43	0.35
Luxemburg	1.85	0.09
Netherlands	1.79	1.13
Canada	1.66	3.21
Germany	1.49	1.69
Norway	1.36	0.35
Other	1.56	18.84
Cash	2.05	0.00

## Active Exposure by Geography (%)
-18	-15	-12	-9	-6	-3	0	3	6
MarketCap Breakdown (USD - %)
36
33
30
27
24
21
18
15
12
9
6
3
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.	-	0.68	0.77	27.74	33.59	24.92	10.25	-	2.05
Bench.	2.65	4.94	9.52	26.61	17.74	22.46	15.01	1.08	-

Translation (ENDE, 2022-08-31):
# Wertentwicklung & Risiken
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Wertentwicklung (EUR)
160
140
120
100
80
60
USD
271.33
Port.	Bench.
Anzahl Positionen	61	10979
Umschlagsrate 1J (%)	33	-
Aktiver Anteil (%)	99	-

## 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* (2.00%)	Benchmark (32.94%)
Die Daten von AXA IM sind auf der Basis von 100 zum Anfangsdatum der Grafik angegeben.
| Risikoanalyse |  |
| --- | --- |
|  | 1J | 3J | 5J | Auflage |
| Portfolio Volatilität* (%) | 25.47 | 21.61 | 18.62 | 15.46 |
| Benchmark Volatilität (%) | 20.03 | 20.50 | 18.22 | 15.22 |
| Relatives Risiko/Tracking Error  (%) | 9.89 | 9.21 | 7.81 | 6.60 |
| Sharpe Ratio | -0.82 | 0.14 | 0.28 | 0.64 |
| Information Ratio | -1.66 | -0.79 | -0.46 | -0.10 |

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 = 99.8% Benchmark = 88.9% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)
% des verwalteten Vermögens, das vom Indikator der CO2-Intensität abgedeckt wird: Portfolio = 92.4% Benchmark = 95.6% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)

## Wertentwicklung (Brutto, Netto in %)
40
20
0
-20
|  | 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 | 14.87 | -2.19 | -0.56 | 33.29 | -23.05 |
| Netto-Wertentwicklung | 8.88 | -2.19 | -0.56 | 33.29 | -23.05 |

-40
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* | -5.10 | 0.20 | -6.06 | -21.84 | 2.00 | 14.60 | -23.05 | 33.29 | -0.56 | -2.19 | 14.87 | 103.30 |
| Benchmark | -1.11 | 1.39 | -0.97 | -7.20 | 32.94 | 49.77 | -5.08 | 41.63 | -1.11 | -3.28 | 16.48 | 160.70 |
| Abstände | -3.99 | -1.19 | -5.09 | -14.64 | -30.94 | -35.17 | -17.97 | -8.33 | 0.55 | 1.09 | -1.61 | -57.40 |

Wertentwicklung im Kalenderjahr (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 13.11 | 9.77 | 20.07 | -7.58 | 13.67 | 1.93 | 19.28 | 16.56 | - | - |
| Benchmark | 23.66 | 6.13 | 26.95 | -10.42 | 8.71 | 14.10 | 10.68 | 15.52 | - | - |
| Abstände | -10.55 | 3.64 | -6.89 | 2.84 | 4.95 | -12.17 | 8.60 | 1.04 | - | - |

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 |  |  |
| Switch Inc | 3.50 | 0.05 | 3.45 | Informatik | Vereinigten Staaten |
| Gsi Group Inc | 3.38 | 0.05 | 3.33 | Informatik | Vereinigten Staaten |
| Edenred | 3.37 | 0.13 | 3.24 | Industrieunternehmen | Frankreich |
| Badger Meter Inc | 3.18 | 0.03 | 3.16 | Informatik | Vereinigten Staaten |
| ICON PLC | 3.06 | - | 3.06 | Gesundheit | Vereinigten Staaten |
| MGP Ingredients Inc | 2.90 | 0.01 | 2.89 | Kurzleb. Konsumg. | Vereinigten Staaten |
| Tetra Tech Inc | 2.80 | 0.08 | 2.72 | Industrieunternehmen | Vereinigten Staaten |
| CyberArk Software Ltd | 2.43 | - | 2.43 | Informatik | Israel |
| Nihon M&A Center Holdings Inc | 2.39 | - | 2.39 | Industrieunternehmen | Japan |
| IDP Education Ltd | 2.27 | - | 2.27 | Dauerh. Konsumg. | Australien |
| Summe (%) | 29.28 | 0.35 |  |  |  |


## Top 5 übergewichtete Positionen (%)	Top 5 untergewichtete Positionen (%)
Port. Bench. Relative	Port. Bench. Relative
| Switch Inc | 3.50 | 0.05 | 3.45 |  | Devon Energy Corp | 0.00 | 0.45 | -0.45 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Gsi Group Inc | 3.38 | 0.05 | 3.33 |  | VICI Properties Inc | 0.00 | 0.33 | -0.33 |
| Edenred | 3.37 | 0.13 | 3.24 |  | ON Semiconductor Corp | 0.00 | 0.31 | -0.31 |
| Badger Meter Inc | 3.18 | 0.03 | 3.16 |  | Constellation Energy Corp | 0.00 | 0.27 | -0.27 |
| ICON PLC | 3.06 | 0.00 | 3.06 |  | Cabot Oil & Gas Corp | 0.00 | 0.26 | -0.26 |


## Sektorengewichtung (%)
Portfolio	Benchmark

## Aktives Engagement nach Sektoren (%)
-9	-6	-3	0	3	6	9	12	15	18	21
Informatik	30.73	13.08
Industrieunternehmen	17.53	17.98
Gesundheit	13.08	10.59
Dauerh. Konsumg.	12.46	11.14
Finanzen	9.40	13.12
Kommunikationsdienste	4.79	3.18
Kurzleb. Konsumg.	4.76	4.36
Immobilien	3.82	8.65
Werkstoffe	1.38	8.23
Nicht klassifiziert	0.00	0.01
Öffentliche Dienste	0.00	3.72
Energie	0.00	5.93
Liquide Mittel	2.05	0.00

## Geographische Ausrichtung (%)
Portfolio	Benchmark
Vereinigten Staaten	56.89	60.03
Japan	7.87	6.46
Frankreich	6.87	1.88
Großbritannien	5.16	3.27
Italien	4.71	0.65
Australien	4.31	2.05
Israel	2.43	0.35
Luxemburg	1.85	0.09
Niederlande	1.79	1.13
Kanada	1.66	3.21
Deutschland	1.49	1.69
Norwegen	1.36	0.35
Sonstige	1.56	18.84
Liquide Mittel	2.05	0.00

## Aktives Engagement nach geografischen Regionen (%)
-18	-15	-12	-9	-6	-3	0	3	6

## Aufgliederung nach Marktkapitalisierung (USD - %)
36
33
30
27
24
21
18
15
12
9
6
3
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
Von 10 bis
25 Mrd
Von 25 bis
100 Mrd
Liquide Mittel
Port.	-	0.68	0.77	27.74	33.59	24.92	10.25	-	2.05
Bench.	2.65	4.94	9.52	26.61	17.74	22.46	15.01	1.08	-