# Performance & Risk
## Performance Evolution (EUR)
EUR

### 200.96
Linear Average Rating	A-
% of 10 first lines	20.59
Weighted Average Maturity	27
Current yield	-0.35
Number of Holdings	90
Number of Issuers	61

## Fund Profile
ESG Rating
30/09/20
30/11/20
30/01/21
30/03/21
30/05/21
30/07/21 30/09/21
Portfolio* (-0.12%)	Benchmark (-0.55%)
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. | % of AUM covered by ESG absolute rating: Portfolio = 99.5% (not meaningful for coverage below 50%) |
| --- | --- |
| Risk Analysis |  |  |  |  |  |  |  |  |
|  | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y |  |
| Portfolio Volatility* (%) | 0.05 | 0.06 | 0.06 | 0.06 | 0.09 | 0.69 | 0.54 |  |
| Benchmark Volatility (%) | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 |  |
| Relative Risk/Tracking Error  (%) | 0.05 | 0.06 | 0.06 | 0.06 | 0.09 | 0.69 | 0.54 |  |
| Sharpe Ratio | 6.31 | 3.92 | 7.26 | 6.15 | 5.57 | 0.63 | 0.68 |  |
| Information Ratio | 7.77 | 5.23 | 8.30 | 7.57 | 6.51 | 0.67 | 0.72 |  |


## Rolling Performance (%)
|  | 1M | 3M | 6M | YTD | 3Y | 5Y | 30/09/20 30/09/21 | 30/09/19 30/09/20 | 30/09/18 30/09/19 | 30/09/17 30/09/18 | 30/09/16 30/09/17 | Launch |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -0.03 | -0.10 | -0.12 | -0.19 | -0.44 | -0.97 | -0.12 | -0.15 | -0.18 | -0.34 | -0.20 | 3.66 |
| Benchmark | -0.05 | -0.15 | -0.29 | -0.43 | -1.38 | -2.09 | -0.55 | -0.46 | -0.37 | -0.36 | -0.36 | -1.09 |
| Excess Return | 0.02 | 0.04 | 0.17 | 0.24 | 0.94 | 1.12 | 0.43 | 0.32 | 0.19 | 0.03 | 0.16 | 4.75 |

Annual Calendar Performance (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -0.05 | 0.03 | -0.53 | -0.19 | 0.14 | 0.05 | 0.81 | 0.69 | 1.79 | 1.04 |
| Benchmark | -0.47 | -0.40 | -0.37 | -0.36 | -0.32 | -0.11 | 0.10 | 0.09 | 0.24 | 0.88 |
| Excess Return | 0.42 | 0.42 | -0.17 | 0.17 | 0.46 | 0.15 | 0.71 | 0.60 | 1.55 | 0.15 |

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 |  |
| --- | --- |
| Sector Breakdown (%) |  |  | Geographical Breakdown (%) |  |
|  | 30/09/2021 |  |  | Portfolio |
| Banking | 38.81 |  | France | 36.03 |
| Utility | 10.57 |  | Germany | 15.07 |
| Cash and misc. | 10.07 |  | Spain | 10.46 |
| Telecommunications | 9.15 |  | United States | 8.64 |
| Services | 5.08 |  | Netherlands | 6.91 |
| Capital Goods | 4.41 |  | Belgium | 6.68 |
| Automotive | 4.02 |  | Great Britain | 2.80 |
| Healthcare | 3.70 |  | Norway | 2.65 |
| Financial Services | 2.79 |  | Canada | 2.54 |
| Energy | 2.24 |  | Italy | 2.33 |
| Real Estate | 2.02 |  | Switzerland | 2.28 |
| Retail | 2.02 |  | Finland | 1.66 |
| Technology & Electronics | 1.81 |  | Australia | 1.05 |
| Basic Industry | 1.33 |  | Austria | 0.92 |
| Consumer Goods | 1.01 |  | Others | 0.00 |
| Transportation | 0.78 |  |  |  |
| Sovereign | 0.19 |  |  |  |


## Instrument Type Breakdown (%)
100
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |

80
60
40
20
| 0 | Fixed rate bonds | Money Market Fund | Variable rate bonds | Deposit & Liquidity | CP&MTN |
| --- | --- | --- | --- | --- | --- |
| Portfolio | 82.68 | 9.61 | 7.06 | 0.45 | 0.19 |


## Rating / Maturity Exposure Breakdown (%)
|  | A | AA | BBB | NR | Total |
| --- | --- | --- | --- | --- | --- |
| 0 - 1 day | 0.42 |  |  | 0.04 | 0.45 |
| 1 - 3 months |  | 0.17 | 1.00 |  | 1.18 |
| 3 - 6 months | 14.34 |  | 11.89 |  | 26.23 |
| 6 months - 1 year | 5.14 | 0.02 | 2.30 |  | 7.45 |
| 12 - 18 months | 19.41 | 1.66 | 10.59 |  | 31.66 |
| > 18 months | 16.95 | 4.54 | 11.54 |  | 33.04 |
| Total | 56.25 | 6.40 | 37.31 | 0.04 |  |

Evolution of Average Maturity (Years)
1.50
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |

1.20
0.90
0.60
0.30
0.00
April 2021	May 2021	June 2021	July 2021	August 2021	September 2021
Average maturity	1.21	1.22	1.23	1.22	1.18	1.18

Translation (ENDE, 2021-09-30):
# Wertentwicklung & Risiken
Wertentwicklung (EUR)
200.96
% von 10 der ersten Linien	20.59
Gewichtete Durchschnittl. Laufzeit	27
Laufende Verzinsung	-0.35
Anzahl Positionen	90
Anzahl Emittenten	61

## Fonds-Profile
ESG-Rating
30/09/20
30/11/20
30/01/21
30/03/21
30/05/21
30/07/21 30/09/21
Portfolio* (-0.12%)	Benchmark (-0.55%)
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. | % des verwalteten Vermögens, das vom absoluten ESG-Rating abgedeckt wird: Portfolio = 99.5% (nicht bedeutend bei einer Abdeckung von weniger als 50 %) |
| --- | --- |
| Risikoanalyse |  |  |  |  |  |  |  |  |
|  | 1M | 3M | 6M | YTD | 1J | 3J | 5J |  |
| Portfolio Volatilität* (%) | 0.05 | 0.06 | 0.06 | 0.06 | 0.09 | 0.69 | 0.54 |  |
| Benchmark Volatilität (%) | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 |  |
| Relatives Risiko/Tracking Error  (%) | 0.05 | 0.06 | 0.06 | 0.06 | 0.09 | 0.69 | 0.54 |  |
| Sharpe Ratio | 6.31 | 3.92 | 7.26 | 6.15 | 5.57 | 0.63 | 0.68 |  |
| Information Ratio | 7.77 | 5.23 | 8.30 | 7.57 | 6.51 | 0.67 | 0.72 |  |


## Rollierende Wertentwicklung (%)
|  | 1M | 3M | 6M | YTD | 3J | 5J | 30/09/20 30/09/21 | 30/09/19 30/09/20 | 30/09/18 30/09/19 | 30/09/17 30/09/18 | 30/09/16 30/09/17 | Auflage |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -0.03 | -0.10 | -0.12 | -0.19 | -0.44 | -0.97 | -0.12 | -0.15 | -0.18 | -0.34 | -0.20 | 3.66 |
| Benchmark | -0.05 | -0.15 | -0.29 | -0.43 | -1.38 | -2.09 | -0.55 | -0.46 | -0.37 | -0.36 | -0.36 | -1.09 |
| Abstände | 0.02 | 0.04 | 0.17 | 0.24 | 0.94 | 1.12 | 0.43 | 0.32 | 0.19 | 0.03 | 0.16 | 4.75 |

Wertentwicklung im Kalenderjahr (%)
|  | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Portfolio* | -0.05 | 0.03 | -0.53 | -0.19 | 0.14 | 0.05 | 0.81 | 0.69 | 1.79 | 1.04 |
| Benchmark | -0.47 | -0.40 | -0.37 | -0.36 | -0.32 | -0.11 | 0.10 | 0.09 | 0.24 | 0.88 |
| Abstände | 0.42 | 0.42 | -0.17 | 0.17 | 0.46 | 0.15 | 0.71 | 0.60 | 1.55 | 0.15 |

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 |  |
| --- | --- |
| Sektorengewichtung (%) |  |  | Geographische Ausrichtung (%) |  |
|  | 30/09/2021 |  |  | Portfolio |
| Bankgeschäfte | 38.81 |  | Frankreich | 36.03 |
| Versorgungsbetr. | 10.57 |  | Deutschland | 15.07 |
| Cash und sonstiges | 10.07 |  | Spanien | 10.46 |
| Telekommunikation | 9.15 |  | Vereinigten Staaten | 8.64 |
| Services | 5.08 |  | Niederlande | 6.91 |
| Investitionsgüter | 4.41 |  | Belgien | 6.68 |
| Automobil | 4.02 |  | Großbritannien | 2.80 |
| Gesundheitspflege | 3.70 |  | Norwegen | 2.65 |
| Finanzdienstleistungen | 2.79 |  | Kanada | 2.54 |
| Energie | 2.24 |  | Italien | 2.33 |
| Immobilien | 2.02 |  | Schweiz | 2.28 |
| Retail | 2.02 |  | Finnland | 1.66 |
| Technol. und Elektr. | 1.81 |  | Australien | 1.05 |
| Basisindustrie | 1.33 |  | Österreich | 0.92 |
| Consumer Goods | 1.01 |  | Sonstige | 0.00 |
| Transportation | 0.78 |  |  |  |
| Sovereign | 0.19 |  |  |  |


## Titelstruktur (%)
100
|  |  |  |
| --- | --- | --- |
|  |  |
|  |  |
|  |  |

80
60
40
20
| 0 | Festverz. Wpe | Money Market Funds | Floater | Geldeinlage und Liquidität | Kurzläufer |
| --- | --- | --- | --- | --- | --- |
| Portfolio | 82.68 | 9.61 | 7.06 | 0.45 | 0.19 |

| Aufteilung nach rating / laufzeit (%) |  |
| --- | --- |
|  | A | AA | BBB | NR | Totaal |
| 0 - 1 tag | 0.42 |  |  | 0.04 | 0.45 |
| 1 - 3 monate |  | 0.17 | 1.00 |  | 1.18 |
| 3 - 6 monate | 14.34 |  | 11.89 |  | 26.23 |
| 6 monate - 1 jahre | 5.14 | 0.02 | 2.30 |  | 7.45 |
| 12 - 18 monate | 19.41 | 1.66 | 10.59 |  | 31.66 |
| > 18 monate | 16.95 | 4.54 | 11.54 |  | 33.04 |
| Total | 56.25 | 6.40 | 37.31 | 0.04 |  |


## Entwicklung der Durchschnittslaufzeit (Jahre)
1.50
|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |

1.20
0.90
0.60
0.30
0.00
April 2021	Mai 2021	Juni 2021	Juli 2021	August 2021	September 2021
Durchschnittslaufzeit	1.21	1.22	1.23	1.22	1.18	1.18