Balanced global and regional equity mix with strong historic results and efficient risk use

Report created on Apr 17, 2026

Risk profile

  • Secure
    Speculative

The risk profile, derived from past market volatility, reflects the level of risk the portfolio is exposed to. This assessment helps align your investments with your financial goals and comfort with market fluctuations.

Diversification profile

  • Focused
    Diversified

The diversification assessment evaluates the spread of investments across asset classes, regions, and sectors. This ensures a balanced mix, reducing risk and maximizing returns by not concentrating in any single area.

Positions

The portfolio is made of three equity ETFs in almost equal weights, so it’s a very clean structure. One fund gives broad global stock exposure, while the other two tilt specifically toward one European market and Japan with currency hedging. Being 100% in stocks means growth is clearly the focus, not capital stability. This kind of simple three‑fund layout is easy to understand and maintain, which is a big plus. The key takeaway is that the main levers here are region tilts and equity risk level; any changes would mostly be about dialing those up or down rather than adding complexity.

Growth Info

Over the period since mid‑2019, €1,000 grew to about €2,590, with a compound annual growth rate (CAGR) of 15.31%. CAGR is like the average yearly “speed” of growth, smoothing out the bumps. That growth beat both the US market and a global benchmark, despite a similar maximum drawdown of around ‑33% during the 2020 crash. This shows the mix has historically been rewarded for the risk taken. The main limitation is that this window includes a strong post‑COVID rebound and low‑rate environment, so future results could be very different even with the same holdings.

Projection Info

The Monte Carlo projection uses thousands of simulated paths based on historical patterns to estimate a range of future outcomes. Think of it as rolling the dice on many possible return paths rather than assuming a straight line. For €1,000 over 15 years, the median outcome is about €2,772, with a wide but reasonable range around that. The average annual return across simulations is 8.12%, and roughly 85% of runs end positive. This is encouraging, but it still relies on the past as a guide. Structural shifts, interest‑rate changes, or new crises could push actual returns above or below these estimates.

Asset classes Info

  • Stocks
    100%

All of the portfolio sits in stocks, with no bonds, cash substitutes, or alternative assets. That’s why the overall risk score is in the middle‑high area for a “balanced” label: volatility can be meaningful, but diversification across different equities softens it somewhat. Compared with more traditional balanced mixes that include bonds, this approach leans more toward growth and less toward downside cushioning. The upside is a higher expected long‑term return; the trade‑off is deeper and longer drawdowns during equity bear markets. As a result, staying invested through rough periods becomes a crucial behavioral requirement.

Sectors Info

  • Financials
    26%
  • Industrials
    16%
  • Technology
    16%
  • Consumer Discretionary
    11%
  • Utilities
    7%
  • Telecommunications
    6%
  • Health Care
    6%
  • Energy
    5%
  • Consumer Staples
    3%
  • Basic Materials
    3%
  • Real Estate
    2%

Sector exposure is spread across financials, industrials, technology, consumer areas, and utilities, with financials being the single largest bucket. This shape reflects the strong weight to an Italian index plus global and Japanese stocks, leading to more financials and less of some defensive areas than a typical global‑only portfolio. A higher financials share can benefit from economic growth, rising activity, and healthy credit markets, but it can also be more sensitive to interest‑rate or banking‑sector stress. On the positive side, the presence of meaningful technology and industrials exposure helps capture innovation and global trade cycles.

Regions Info

  • Japan
    35%
  • Europe Developed
    35%
  • North America
    24%
  • Asia Developed
    3%
  • Asia Emerging
    2%
  • Australasia
    1%

Geographically, exposure is fairly split: roughly one‑third Japan, one‑third developed Europe, and just under one‑quarter North America, with small allocations to other developed and emerging markets. Compared with common global benchmarks, this is a noticeable tilt toward Japan and one European market, and an underweight to the US. That creates a nice balance away from US dominance, but it also means outcomes will differ more from mainstream global indices. When Japan or European markets do well, this can be a powerful tailwind; when they lag, the portfolio may trail US‑heavy peers even if global markets overall are strong.

Market capitalization Info

  • Mega-cap
    48%
  • Large-cap
    37%
  • Mid-cap
    14%

Most holdings are in mega‑cap and large‑cap companies, with a smaller slice in mid‑caps and little to none in small‑caps. Large and mega‑caps tend to be more established firms with deeper liquidity and more stable business models, which can help reduce idiosyncratic risk compared to a portfolio stuffed with small, volatile names. However, this does slightly dial down exposure to the potential higher long‑term growth of smaller companies. Overall, the market‑cap profile is very much in line with standard global equity indices, which is a positive sign that the size mix is broadly mainstream and well‑anchored.

True holdings Info

  • UniCredit S.p.A.
    4.88%
    Part of fund(s):
    • iShares FTSE MIB UCITS
  • Intesa Sanpaolo SpA
    4.41%
    Part of fund(s):
    • iShares FTSE MIB UCITS
  • Enel SpA
    3.89%
    Part of fund(s):
    • iShares FTSE MIB UCITS
  • Eni S.p.A.
    1.94%
    Part of fund(s):
    • iShares FTSE MIB UCITS
  • Ferrari NV
    1.88%
    Part of fund(s):
    • iShares FTSE MIB UCITS
  • Assicurazioni Generali S.p.A.
    1.72%
    Part of fund(s):
    • iShares FTSE MIB UCITS
  • Prysmian SpA
    1.44%
    Part of fund(s):
    • iShares FTSE MIB UCITS
  • NVIDIA Corporation
    1.43%
    Part of fund(s):
    • Vanguard FTSE All-World UCITS ETF USD Accumulation
  • Toyota Motor Corp
    1.39%
    Part of fund(s):
    • iShares MSCI Japan EUR Hedged UCITS
  • Apple Inc
    1.33%
    Part of fund(s):
    • Vanguard FTSE All-World UCITS ETF USD Accumulation
  • Top 10 total 24.33%

Looking through the ETFs, the biggest identifiable company exposures include major Italian financials and utilities plus some global names like NVIDIA, Toyota, and Apple. Several Italian banks appear via the same regional ETF, which creates a pocket of hidden concentration even though there are only three funds. Because only top‑10 ETF holdings are visible, overlap is almost certainly understated. This matters because the portfolio may be more sensitive to a handful of large firms and local sectors than it appears from fund tickers alone. The practical point: diversification is good, but not perfectly even at the single‑stock level.

Risk contribution Info

  • iShares FTSE MIB UCITS
    Weight: 33.00%
    36.4%
  • iShares MSCI Japan EUR Hedged UCITS
    Weight: 33.00%
    34.4%
  • Vanguard FTSE All-World UCITS ETF USD Accumulation
    Weight: 34.00%
    29.2%

Risk contribution measures how much each holding adds to overall ups and downs, which can differ from its weight. Here, the Italian and Japanese ETFs each contribute slightly more risk than their one‑third weights, while the global fund contributes a bit less than its share. That means the regional tilts are driving a bit more of the volatility than the broad global base. This is not extreme, but it’s useful context: if future changes were considered, adjusting those two regional slices would be the most direct way to dial the portfolio’s risk level up or down without adding new holdings.

Risk vs. return

This chart shows the Efficient Frontier, calculated using your current assets with different allocation combinations. It highlights the best balance between risk and return based on historical data. "Efficient" portfolios maximize returns for a given risk or minimize risk for a given return. Portfolios below the curve are less efficient. This is informational and not a recommendation to buy or sell any assets.

Click on the colored dots to explore allocations.

The risk vs. return analysis shows the current portfolio sitting on or very near the efficient frontier. The efficient frontier is the curve of the best possible return for each risk level given these holdings. With a Sharpe ratio of 0.77, the portfolio is close to the max‑Sharpe mix at 0.88 and above the minimum‑risk option. That means the existing weights are already using risk effectively, not leaving an obvious “free lunch” on the table. Any improvement from adjusting weights alone would likely be incremental rather than transformational, which is a strong validation of the current overall structure.

Ongoing product costs Info

  • iShares FTSE MIB UCITS 0.33%
  • Vanguard FTSE All-World UCITS ETF USD Accumulation 0.19%
  • iShares MSCI Japan EUR Hedged UCITS 0.64%
  • Weighted costs total (per year) 0.38%

Total ongoing costs land around 0.38% per year, which is comfortably in the low‑to‑moderate range for a three‑ETF portfolio with regional tilts and currency hedging. TER (Total Expense Ratio) is the annual fee charged by each fund; it quietly comes off performance in the background. The global ETF is very cheap, the Italian fund is reasonable, and the Japan hedged ETF is pricier, which is common for hedged products. Overall, these costs are impressively low for the diversification achieved. Keeping expenses under control like this meaningfully supports long‑term compounding compared with higher‑fee active or niche strategies.

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