# Performance & Risk
## Performance Evolution (EUR)
CO2 Relative rating
% of AUM covered by ESG absolute rating: Portfolio = 99.2% Benchmark = 99.9% (not meaningful for coverage below 50%)
% of AUM covered by CO2 intensity indicator: Portfolio
= 99.2% Benchmark = 99.7% (not meaningful for coverage below 50%)
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160
140
120
100
80
60
28/02/19
28/08/19
28/02/20
28/08/20
28/02/21
28/08/21 28/02/22
Portfolio* (15.57%)	Benchmark (28.04%)
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* (%) | 17.00 | 20.29 | 17.78 | 17.45 |
| Benchmark Volatility (%) | 13.81 | 19.04 | 16.53 | 17.54 |
| Relative Risk/Tracking Error  (%) | 9.72 | 7.45 | 5.97 | 3.76 |
| Sharpe Ratio | 0.19 | 0.31 | 0.29 | 0.25 |
| Information Ratio | -0.70 | -0.34 | -0.28 | -0.05 |
| 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* | -4.05 | -13.69 | -12.52 | -16.09 | 15.57 | 20.08 | 1.68 | 10.87 | 2.51 | -5.56 | 10.02 | 549.95 |
| Benchmark | -5.18 | -4.23 | -6.69 | -8.73 | 28.04 | 36.87 | 9.57 | 13.13 | 3.29 | -2.88 | 10.07 | 781.26 |
| Excess Return | 1.13 | -9.46 | -5.83 | -7.36 | -12.47 | -16.79 | -7.89 | -2.25 | -0.78 | -2.69 | -0.04 | -231.31 |


## Annual Calendar Performance (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 19.04 | 1.21 | 26.97 | -15.48 | 10.59 | 2.33 | 13.78 | 0.58 | 22.83 | 26.88 |
| Benchmark | 22.67 | 0.25 | 26.11 | -12.72 | 12.55 | 4.15 | 10.33 | 4.14 | 23.74 | 19.34 |
| Excess Return | -3.64 | 0.96 | 0.86 | -2.76 | -1.96 | -1.82 | 3.45 | -3.57 | -0.92 | 7.55 |

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 |  |  |
| Asml Holding NV | 7.45 | 4.93 | 2.52 | Technology | Netherlands |
| LVMH Moet Hennessy Louis Vu... | 4.48 | 3.46 | 1.02 | Consumer Discretionary | France |
| Koninklijke Dsm NV | 4.10 | 0.58 | 3.51 | Consumer Staples | Netherlands |
| L'Oreal SA | 4.05 | 1.71 | 2.34 | Consumer Discretionary | France |
| Adyen NV | 3.94 | 1.04 | 2.89 | Industrials | Netherlands |
| Pernod Ricard SA | 3.92 | 0.80 | 3.12 | Consumer Staples | France |
| Schneider Electric SE | 3.83 | 1.58 | 2.25 | Industrials | France |
| Iberdrola SA | 3.79 | 1.18 | 2.61 | Utilities | Spain |
| Ferrari NV | 3.52 | 0.45 | 3.07 | Consumer Discretionary | Italy |
| Dassault Systemes Sa | 3.47 | 0.62 | 2.86 | Technology | France |
| Total (%) | 42.54 | 16.35 |  |  |  |


## Top 5 Overweight (%)	Top 5 Underweight (%)
Port. Bench. Relative	Port. Bench. Relative
| Koninklijke Dsm NV | 4.10 | 0.58 | 3.51 |  | Linde Plc | 0.00 | 2.65 | -2.65 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Lotus Bakeries NV | 3.18 | 0.00 | 3.18 |  | TotalEnergies SE | 0.00 | 2.40 | -2.40 |
| Pernod Ricard SA | 3.92 | 0.80 | 3.12 |  | SAP SE | 0.00 | 2.20 | -2.20 |
| Tomra Systems ASA | 3.12 | 0.00 | 3.12 |  | Sanofi | 0.00 | 2.13 | -2.13 |
| Ferrari NV | 3.52 | 0.45 | 3.07 |  | Siemens AG | 0.00 | 1.89 | -1.89 |
| Sector Breakdown (%) |  |  |  |  | Active Exposure by Sector (%) |  |  |  |

Portfolio	Benchmark
Consumer Discretionary	22.41	16.98
Industrials	22.14	17.25
Technology	16.67	12.38
Consumer Staples	11.20	5.68
Health Care	11.00	8.06
Utilities	5.70	5.81
Basic Materials	5.32	8.03
Energy	2.41	4.65
Telecommunications	2.32	3.64
Financials	0.00	15.67
Real Estate	0.00	1.86
Cash	0.85	0.00
-18	-15	-12	-9	-6	-3	0	3	6	9

## Securities Exposure by geographical area (%)
Portfolio	Benchmark
France	27.26	33.14
Netherlands	19.49	13.24
Germany	17.68	27.24
Belgium	10.08	3.11
Spain	8.40	7.11
Italy	6.02	8.17
Norway	3.12	0.00
Sweden	2.55	0.00
Finland	2.41	4.02
Switzerland	2.13	0.00
Portugal	0.00	0.56
Luxemburg	0.00	0.41
Other	0.00	3.00
Cash	0.85	0.00

## Active Exposure by Geography (%)
-10	-8	-6	-4	-2	0	2	4	6	8
MarketCap Breakdown (EUR - %)
52
48
44
40
36
32
28
24
20
16
12
8
4
0	1bn To 3bn	3bn To 5bn	5bn To 10bn	10bn To 25bn	25bn To 100bn	100bn To 250bn	More Than 250bn	Cash
Port.	-	3.18	15.16	11.90	47.83	16.59	4.48	0.85
Bench.	0.20	2.04	7.22	17.93	47.73	21.42	3.46	-

Translation (ENDE, 2022-02-28):
# Wertentwicklung & Risiken
Wertentwicklung (EUR)
Relative CO2-Intensität
% des verwalteten Vermögens, das vom absoluten ESG-Rating abgedeckt wird: Portfolio = 99.2% Benchmark = 99.9% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)
% des verwalteten Vermögens, das vom Indikator der CO2-Intensität abgedeckt wird: Portfolio = 99.2% Benchmark = 99.7% (nicht bedeutend bei einer Abdeckung von weniger als 50 %)
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160
140
120
100
80
60
28/02/19
28/08/19
28/02/20
28/08/20
28/02/21
28/08/21 28/02/22
Portfolio* (15.57%)	Benchmark (28.04%)
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* (%) | 17.00 | 20.29 | 17.78 | 17.45 |
| Benchmark Volatilität (%) | 13.81 | 19.04 | 16.53 | 17.54 |
| Relatives Risiko/Tracking Error  (%) | 9.72 | 7.45 | 5.97 | 3.76 |
| Sharpe Ratio | 0.19 | 0.31 | 0.29 | 0.25 |
| Information Ratio | -0.70 | -0.34 | -0.28 | -0.05 |
| Wertentwicklung (Brutto, Netto in %) |  |  |  |  |

15
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10
5
0
-5
|  | 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 | 10.02 | -5.56 | 2.51 | 10.87 | 1.68 |  |
|  | Netto-Wertentwicklung | 10.02 | -5.56 | 2.51 | 10.87 | 1.68 |  |

-10
Berechnung nach BVI-Wertermittlungsstatistik (siehe Erläuterung unter 'Wichtige Hinweise')

## Rollierende Wertentwicklung (%)
| 1M	3M	6M	YTD	3J	5J	28/02/21 | 28/02/20 | 28/02/19 | 28/02/18 | 28/02/17	Auflage |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  | 28/02/22 | 28/02/21 | 29/02/20 | 28/02/19 | 28/02/18 |  |
| Portfolio* | -4.05 | -13.69 | -12.52 | -16.09 | 15.57 | 20.08 | 1.68 | 10.87 | 2.51 | -5.56 | 10.02 | 549.95 |
| Benchmark | -5.18 | -4.23 | -6.69 | -8.73 | 28.04 | 36.87 | 9.57 | 13.13 | 3.29 | -2.88 | 10.07 | 781.26 |
| Abstände | 1.13 | -9.46 | -5.83 | -7.36 | -12.47 | -16.79 | -7.89 | -2.25 | -0.78 | -2.69 | -0.04 | -231.31 |

Wertentwicklung im Kalenderjahr (%)
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | 19.04 | 1.21 | 26.97 | -15.48 | 10.59 | 2.33 | 13.78 | 0.58 | 22.83 | 26.88 |
| Benchmark | 22.67 | 0.25 | 26.11 | -12.72 | 12.55 | 4.15 | 10.33 | 4.14 | 23.74 | 19.34 |
| Abstände | -3.64 | 0.96 | 0.86 | -2.76 | -1.96 | -1.82 | 3.45 | -3.57 | -0.92 | 7.55 |

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 |  |  |
| Asml Holding NV | 7.45 | 4.93 | 2.52 | Technologie | Niederlande |
| LVMH Moet Hennessy Louis Vu... | 4.48 | 3.46 | 1.02 | Verbrauchsgüter | Frankreich |
| Koninklijke Dsm NV | 4.10 | 0.58 | 3.51 | Basiskonsumgüter | Niederlande |
| L'Oreal SA | 4.05 | 1.71 | 2.34 | Verbrauchsgüter | Frankreich |
| Adyen NV | 3.94 | 1.04 | 2.89 | Industrieunternehmen | Niederlande |
| Pernod Ricard SA | 3.92 | 0.80 | 3.12 | Basiskonsumgüter | Frankreich |
| Schneider Electric SE | 3.83 | 1.58 | 2.25 | Industrieunternehmen | Frankreich |
| Iberdrola SA | 3.79 | 1.18 | 2.61 | Versorger | Spanien |
| Ferrari NV | 3.52 | 0.45 | 3.07 | Verbrauchsgüter | Italien |
| Dassault Systemes Sa | 3.47 | 0.62 | 2.86 | Technologie | Frankreich |
| Summe (%) | 42.54 | 16.35 |  |  |  |


## Top 5 übergewichtete Positionen (%)	Top 5 untergewichtete Positionen (%)
Port. Bench. Relative	Port. Bench. Relative
| Koninklijke Dsm NV | 4.10 | 0.58 | 3.51 |  | Linde Plc | 0.00 | 2.65 | -2.65 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Lotus Bakeries NV | 3.18 | 0.00 | 3.18 |  | TotalEnergies SE | 0.00 | 2.40 | -2.40 |
| Pernod Ricard SA | 3.92 | 0.80 | 3.12 |  | SAP SE | 0.00 | 2.20 | -2.20 |
| Tomra Systems ASA | 3.12 | 0.00 | 3.12 |  | Sanofi | 0.00 | 2.13 | -2.13 |
| Ferrari NV | 3.52 | 0.45 | 3.07 |  | Siemens AG | 0.00 | 1.89 | -1.89 |


## Sektorengewichtung (%)
Portfolio	Benchmark

## Aktives Engagement nach Sektoren (%)
-18	-15	-12	-9	-6	-3	0	3	6	9
Verbrauchsgüter	22.41	16.98
Industrieunternehmen	22.14	17.25
Technologie	16.67	12.38
Basiskonsumgüter	11.20	5.68
Gesundheitswesen	11.00	8.06
Versorger	5.70	5.81
Grundstoffe	5.32	8.03
Energie	2.41	4.65
Telekommunikation	2.32	3.64
Finanz-Dienstleistungen	0.00	15.67
Immobilien	0.00	1.86
Liquide Mittel	0.85	0.00

## Geographische Ausrichtung (%)
Portfolio	Benchmark
Frankreich	27.26	33.14
Niederlande	19.49	13.24
Deutschland	17.68	27.24
Belgien	10.08	3.11
Spanien	8.40	7.11
Italien	6.02	8.17
Norwegen	3.12	0.00
Schweden	2.55	0.00
Finnland	2.41	4.02
Schweiz	2.13	0.00
Portugal	0.00	0.56
Luxemburg	0.00	0.41
Sonstige	0.00	3.00
Liquide Mittel	0.85	0.00

## Aktives Engagement nach geografischen Regionen (%)
-10	-8	-6	-4	-2	0	2	4	6	8

## Aufgliederung nach Marktkapitalisierung (EUR - %)
52
48
44
40
36
32
28
24
20
16
12
8
4
0	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
Von 100 bis
250 Mrd
Mehr als 250 Mrd.
Liquide Mittel
Port.	-	3.18	15.16	11.90	47.83	16.59	4.48	0.85
Bench.	0.20	2.04	7.22	17.93	47.73	21.42	3.46	-