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A global index portfolio trying to be clever and mostly just buying the same stuff twice

Report created on Apr 30, 2026

Risk profile Info

4/7
Balanced
Less risk More risk

Diversification profile Info

4/5
Broadly Diversified
Less diversification More diversification

Positions

This portfolio is basically one big global index with a couple of side quests pretending to add spice. Seventy percent in a world tracker, then 15% in a US tracker that heavily overlaps it, plus 15% in emerging value that at least tries to be different. Structurally, this is “three funds cosplaying as diversification” while two of them are almost glued together. It’s lazy in a weirdly efficient way: everything is equities, almost everything is big, and the main decision is essentially “more of the same US mega-caps, please.” Simple isn’t bad, but here the simplicity borders on copy‑paste territory with a tiny value-factor flourish tacked on.

Growth Info

Historically, this portfolio has done the financial equivalent of flexing in the mirror. A €1,000 investment turning into €1,648 in under three years with a 22.24% CAGR is objectively spicy, beating both the US and global markets by a couple of percentage points. The max drawdown of -21.17% is not gentle, but roughly in line with broad equities, so no extra medal for resilience. Also, 90% of returns came from just 21 days — classic equity behavior: miss a handful of good days and the magic vanishes. Past data is like yesterday’s weather: nice to brag about, useless for guarantees.

Projection Info

The Monte Carlo projection basically says, “Yeah, this could go great… or not.” Monte Carlo is just a fancy way of running thousands of what-if scenarios using historical volatility as the chaos engine. Median result: €1,000 becomes about €2,677 in 15 years, which is decent but not exactly yacht money. The “likely” range runs from €1,716 to €4,026, while the ugly tail starts below your starting €1,000. So even with a 71.8% chance of a positive outcome, there’s a non-trivial shot at “15 years later and that went nowhere fast.” The portfolio is clearly growth-leaning, but absolutely not disaster-proof.

Asset classes Info

  • Stocks
    100%

Asset class “diversification” here is just a polite way of saying “100% stocks and nothing else.” No bonds, no cash, no alternatives — just pure equity roller coaster. That’s fine if the intention is to embrace volatility, but calling this “balanced” is generous marketing at best. Asset classes are like food groups: this portfolio lives entirely on protein shakes and coffee. Great during the boom times, less fun when markets remind everyone that drawdowns exist. The upside is simplicity; the downside is there’s nowhere to hide. When stocks sneeze, this portfolio catches pneumonia instantly.

Sectors Info

  • Technology
    30%
  • Financials
    16%
  • Consumer Discretionary
    10%
  • Industrials
    10%
  • Telecommunications
    8%
  • Health Care
    8%
  • Energy
    5%
  • Consumer Staples
    5%
  • Basic Materials
    5%
  • Utilities
    3%
  • Real Estate
    2%

Sector-wise, there’s an unmistakable tech crush: 30% technology, which is basically saying, “I’d like my portfolio to swing with chip cycles and hype cycles, thanks.” Financials aren’t small at 16%, and everything else fights for leftovers. It’s still broadly diversified on paper, but the steering wheel is clearly in the hands of growth-sensitive sectors. This kind of tilt means that when innovation stories are in fashion, the portfolio looks brilliant; when they’re not, it just looks overexposed. Compared with a plain broad-market setup, this skews more toward the boom-or-bust engines rather than the boring-but-steady stuff.

Regions Info

  • North America
    62%
  • Asia Developed
    11%
  • Europe Developed
    10%
  • Asia Emerging
    8%
  • Japan
    4%
  • Latin America
    2%
  • Africa/Middle East
    1%
  • Australasia
    1%
  • Europe Emerging
    1%

Geographically, the portfolio is doing the classic “global” thing where 62% is still North America. So yes, it’s diversified, but with a strong belief that the rest of the world exists mainly to fill the remaining pie-chart space. Europe and developed Asia get scraps in the low double digits, emerging Asia is basically the supporting cast. This is very on-brand for global indices but still a bet: one region is allowed to dominate everything from sector exposure to currency risk. The portfolio isn’t screaming home bias, but it is quietly saying, “If US leadership cracks, I don’t really have a Plan B.”

Market capitalization Info

  • Mega-cap
    50%
  • Large-cap
    35%
  • Mid-cap
    15%

Market-cap distribution is super top-heavy: 50% mega-cap, another 35% large-cap, and a token 15% in mid-caps just to avoid total embarrassment. This is a portfolio that trusts giants and doesn’t bother much with the scrappier side of the market. That means less idiosyncratic blowups but also less exposure to the companies that can actually grow from small to huge. It’s the equivalent of only backing already-famous headliners at a festival and ignoring up-and-coming acts. When mega-caps dominate the index, the portfolio basically moves at their mercy, for better or worse.

True holdings Info

  • NVIDIA Corporation
    4.43%
    Part of fund(s):
    • SPDR S&P 500 UCITS ETF USD Acc EUR
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
  • Apple Inc
    3.90%
    Part of fund(s):
    • SPDR S&P 500 UCITS ETF USD Acc EUR
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
  • Microsoft Corporation
    2.76%
    Part of fund(s):
    • SPDR S&P 500 UCITS ETF USD Acc EUR
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
  • Taiwan Semiconductor Manufacturing Co. Ltd.
    2.60%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
  • Amazon.com Inc
    2.09%
    Part of fund(s):
    • SPDR S&P 500 UCITS ETF USD Acc EUR
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
  • Alphabet Inc Class A
    1.74%
    Part of fund(s):
    • SPDR S&P 500 UCITS ETF USD Acc EUR
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
  • Broadcom Inc
    1.47%
    Part of fund(s):
    • SPDR S&P 500 UCITS ETF USD Acc EUR
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
  • Alphabet Inc Class C
    1.46%
    Part of fund(s):
    • SPDR S&P 500 UCITS ETF USD Acc EUR
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
  • Meta Platforms Inc.
    1.30%
    Part of fund(s):
    • SPDR S&P 500 UCITS ETF USD Acc EUR
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
  • Tesla Inc
    1.10%
    Part of fund(s):
    • LS 1x Tesla Tracker ETP Securities GBP
    • SPDR S&P 500 UCITS ETF USD Acc EUR
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
  • Top 10 total 22.86%

The look-through holdings are a who’s who of the usual suspects: NVIDIA, Apple, Microsoft, Amazon, Alphabet, Meta, Tesla — basically the Magnificent Clones. They show up via all the ETFs, especially the global and US ones, so the overlap is baked in. NVIDIA alone at 4.43% and Apple at 3.90% tell you who’s really in charge, even though there are only three ETFs on the surface. Coverage is only about a quarter of the portfolio’s actual holdings because we’re seeing top-10s only, so real overlap is almost certainly worse. This is “diversified” in name and “big tech popularity contest” in practice.

Risk contribution Info

  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    Weight: 70.00%
    69.3%
  • SPDR S&P 500 UCITS ETF USD Acc EUR
    Weight: 15.00%
    15.7%
  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
    Weight: 15.00%
    15.1%

Risk contribution is incredibly literal here: each ETF contributes almost exactly in line with its weight — 70%, 15%, 15%. Risk contribution just tells you who is really causing the ups and downs, and in this case there are no sneaky troublemakers. The big global ETF is doing almost all the heavy lifting, while the US and EM funds add proportionate spice. That’s tidy, but also a bit boring: no small side position blowing up the volatility, just a steady wall of equity beta. When everything lines up that neatly, it usually means the real risk is systemic: the whole equity market, not one rogue position.

Redundant positions Info

  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    SPDR S&P 500 UCITS ETF USD Acc EUR
    High correlation

The correlation chart politely confirms what was already obvious: the S&P 500 ETF and the global ACWI ETF move almost identically. Correlation just means they dance to the same song — here, they’re basically doing a mirror routine. So that 15% US ETF isn’t adding much new behavior; it’s just turning up the volume on what the global ETF already owns. In a crash, both will fall together like synchronized divers. This isn’t diversification; it’s duplication with extra steps. The EM value ETF is at least somewhat different, but the core of the portfolio is one big, highly correlated blob.

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.

On the efficient frontier, this portfolio is politely told, “Nice effort, but you left free money on the table.” The Sharpe ratio — return per unit of risk, like miles per gallon for investing — is 1.25, while the best mix of the same three ETFs could hit 1.77. Even the minimum-variance version gets a higher Sharpe at similar risk. Being 1.06 percentage points below the frontier at this risk level means the current weights are basically a suboptimal guess. No need for new products; just rearranging what’s already here could give better risk-adjusted results. Right now, it’s like driving a sports car stuck in second gear.

Ongoing product costs Info

  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD 0.40%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF 0.45%
  • Weighted costs total (per year) 0.38%

Costs are… fine. A total TER of 0.38% isn’t robbery, but it’s not bargain-bin either for what is essentially a basic three-ETF global equity setup. The world and EM value funds at 0.40–0.45% are doing simple index or factor work without boutique-level complexity. Fees are like friction: small each year, but they never stop rubbing. Over decades, that 0.38% quietly siphons off a noticeable slice of performance. It’s not outrageous, just mildly annoying — like paying a service charge for the privilege of ordering what everyone else is already eating.

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