# Portfolio analysis
Sector breakdown
Sector over/underweight
Inf. techno. Industrials Health Care Cons. disc.
Financials Cons. stap. Energy Materials Real estate
Utilities
Telecomm. serv.
-20%	-10%	0%	10%	20%	30%	40%
| Geographical breakdown |  |
| --- | --- |
|  | Portfolio | Perf. indicator* |
| USA | 66.24% | 55.26% |
| Japan | 16.26% | 7.40% |
| Germany | 8.49% | 2.95% |
| France | 2.39% | 3.42% |
| Netherlands | 2.03% | 1.11% |
| China | 1.94% | 3.43% |
| Taiwan | 1.93% | 1.36% |
| United Kingdom | 0.73% | 5.27% |
| Canada | 0.00% | 3.00% |
| Switzerland | 0.00% | 2.56% |
| Australia | 0.00% | 2.12% |
| South Korea | 0.00% | 1.63% |
| Other | 0.00% | 10.50% |

Country over/underweight
USA
Japan Germany France Netherlands China Taiwan
United Kingdom Canada Switzerland Australia
South Korea Other
-12%	-9%	-6%	-3%	0%	3%	6%	9%	12%
| Main stocks |  |
| --- | --- |
| Equity |  | Weighting |  | Sector | Country |
|  | Portfolio | Perf. indicator* | Spread |  |  |
| Amazon.com Inc | 3.28% | 1.77% | 1.51% | Cons. disc. | USA |
| Alphabet Inc | 3.25% | 1.61% | 1.65% | Inf. techno. | USA |
| Keyence Corp | 3.11% | 0.12% | 2.99% | Inf. techno. | Japan |
| PTC Inc | 2.82% | - | 2.82% | Inf. techno. | USA |
| Intuitive Surgical Inc | 2.59% | 0.13% | 2.46% | Health Care | USA |
| Apple Inc | 2.51% | 2.47% | 0.04% | Inf. techno. | USA |
| Cisco Systems Inc | 2.35% | 0.49% | 1.86% | Inf. techno. | USA |
| Siemens AG | 2.31% | 0.21% | 2.10% | Industrials | Germany |
| Thermo Fisher Scientific Inc | 2.26% | 0.21% | 2.06% | Health Care | USA |
| QUALCOMM Inc | 2.19% | 0.22% | 1.97% | Inf. techno. | USA |
| Number of Holdings | 59 | 2778 |  |  |  |
| Turnover (1 rolling year) | 9.92% |  |  |  |  |
| Active Share | 89.75% |  |  |  |  |
| Cash | 3.13% |  |  |  |  |

Top 5 overweight	Top 5 underweight
| Portfolio Performance Indicator* Spread |  | Portfolio Performance Indicator* Spread |
| --- | --- | --- |
| Keyence Corp | 3.02% | 0.12% | 2.90% |  | Microsoft Corp | 0.00% | 1.76% | -1.76% |
| PTC Inc | 2.74% | 0.00% | 2.74% |  | Facebook Inc | 0.00% | 0.90% | -0.90% |
| Intuitive Surgical Inc | 2.51% | 0.13% | 2.38% |  | JPMorgan Chase & Co | 0.00% | 0.84% | -0.84% |
| Cadence Design Systems Inc | 2.12% | 0.03% | 2.09% |  | Johnson & Johnson | 0.00% | 0.77% | -0.77% |
| Siemens AG | 2.24% | 0.21% | 2.03% |  | Exxon Mobil Corp | 0.00% | 0.73% | -0.73% |

Translation (ENDE, 2018-08-31):
# Portfolioanalyse
### Sektorengewichtung
Sektorüber-/-untergewichtung
Informatik Industrie Gesundheit Dauerh. Konsumg.
Finanzen
Kurzleb. Konsumg. Energie Werkstoffe Immobilien
Öffentl. Dienste
Telekom
-20%	-10%	0%	10%	20%	30%	40%
| Ländergewichtung |  |
| --- | --- |
|  | Portfolio | Vergleichsindex* |
| Vereinigten Staaten | 66.24% | 55.26% |
| Japan | 16.26% | 7.40% |
| Deutschland | 8.49% | 2.95% |
| Frankreich | 2.39% | 3.42% |
| Niederlande | 2.03% | 1.11% |
| China | 1.94% | 3.43% |
| Taiwan | 1.93% | 1.36% |
| Großbritannien | 0.73% | 5.27% |
| Kanada | 0.00% | 3.00% |
| Schweiz | 0.00% | 2.56% |
| Australien | 0.00% | 2.12% |
| Südkorea | 0.00% | 1.63% |
| Sonstige | 0.00% | 10.50% |


### Länderüber-/-untergewichtung
Vereinigten Staaten Japan
Deutschland Frankreich Niederlande China Taiwan
Großbritannien Kanada Schweiz Australien Südkorea Sonstige
-12%	-9%	-6%	-3%	0%	3%	6%	9%	12%
* Interner Vergleichsindex : Wir verweisen auf die Angaben unter der Überschrift Interner Vergleichsindex in den Charakteristika/Disclaimern weiter unten Quellen : AXA Investment Managers - GICS - MSCI per 31/08/2018
| Die grössten Werte |  |
| --- | --- |
| Aktie |  | Gewichtung |  | Sektor | Land |
|  | Portfolio | Vergleichsindex* | Spanne |  |  |
| Amazon.com Inc | 3.18% | 1.77% | 1.41% | Dauerh. Konsumg. | Vereinigten Staaten |
| Alphabet Inc | 3.16% | 1.61% | 1.55% | Informatik | Vereinigten Staaten |
| Keyence Corp | 3.02% | 0.12% | 2.90% | Informatik | Japan |
| PTC Inc | 2.74% | - | 2.74% | Informatik | Vereinigten Staaten |
| Intuitive Surgical Inc | 2.51% | 0.13% | 2.38% | Gesundheit | Vereinigten Staaten |
| Apple Inc | 2.43% | 2.47% | -0.03% | Informatik | Vereinigten Staaten |
| Cisco Systems Inc | 2.28% | 0.49% | 1.79% | Informatik | Vereinigten Staaten |
| Siemens AG | 2.24% | 0.21% | 2.03% | Industrie | Deutschland |
| Thermo Fisher Scientific Inc | 2.19% | 0.21% | 1.99% | Gesundheit | Vereinigten Staaten |
| QUALCOMM Inc | 2.12% | 0.22% | 1.90% | Informatik | Vereinigten Staaten |
| Anzahl Positionen | 59 | 2778 |  |  |  |
| Umschlagsrate1 | 9.92% |  |  |  |  |
| Aktiver Anteil1 | 89.75% |  |  |  |  |
| Liquide Mittel | 3.04% |  |  |  |  |


### Top 5 übergewichtete Positionen	Top 5 untergewichtete Positionen
| Portfolio Interner Vergleichsindex* Spanne |  | Portfolio Interner Vergleichsindex* Spanne |
| --- | --- | --- |
| Keyence Corp | 3.02% | 0.12% | 2.90% |  | Microsoft Corp | 0.00% | 1.76% | -1.76% |
| PTC Inc | 2.74% | 0.00% | 2.74% |  | Facebook Inc | 0.00% | 0.90% | -0.90% |
| Intuitive Surgical Inc | 2.51% | 0.13% | 2.38% |  | JPMorgan Chase & Co | 0.00% | 0.84% | -0.84% |
| Cadence Design Systems Inc | 2.12% | 0.03% | 2.09% |  | Johnson & Johnson | 0.00% | 0.77% | -0.77% |
| Siemens AG | 2.24% | 0.21% | 2.03% |  | Exxon Mobil Corp | 0.00% | 0.73% | -0.73% |

* Interner Vergleichsindex : Wir verweisen auf die Angaben unter der Überschrift Interner Vergleichsindex in den Charakteristika/Disclaimern weiter unten Quellen : AXA Investment Managers - GICS - MSCI per 31/08/2018
1Komplexe Begriffe werden in einem Glossar auf unserer Webseite www.axa-im.de > Dokumente erläutert.