Global tracker with a small cap side quest pretending to be complicated diversification
Report created on Apr 4, 2026Risk profile
4/7
Diversification profile
3/5
Positions
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SP SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
SPYI - IE00B3YLTY66 80.00% -
AV Avantis Global Small Cap Value UCITS ETF USD Acc EUR
AVWS - IE0003R87OG3 20.00%
This portfolio is basically a one–ETF world tracker with a 20% “spicy garnish” of global small cap value. Calling this “moderately diversified” is generous: it’s diversified the way a mixed pizza is diversified — still all bread and cheese. You’ve outsourced almost every decision to one broad fund, then tried to look clever by bolting on a factor ETF. Because it’s 100% stocks, the “balanced” label is doing some creative writing here. Takeaway: structurally simple and actually not stupid, but let’s not pretend it’s some finely tuned machine — it’s a world index with a personality quirk.
Growth
Over the 1.5-year window, this thing beat both the US market and global market on paper, with a 9.77% annual growth rate versus 6.55% and 8.35%. Nice, but with such a tiny history, that’s more “lucky streak at the casino” than “proven edge.” Max drawdown of almost -22% shows it can hurt just as much as the benchmarks; it just bounced back slightly better this time. Also, 90% of returns came from just five days — so blink and you miss the magic. Past data over this short period is like yesterday’s weather report: informative, but not a life plan.
Projection
The Monte Carlo projection — basically a thousand “what if the next 15 years rhymed with the last 1.5?” dice rolls — says median outcome is €2,806 from €1,000. The possible range is wide: roughly €900 to €8,100, which is analyst-speak for “could be fine, could be chaos.” With such a short history feeding the simulation, these numbers are more vibe than forecast. It’s like using one season of weather to predict the next decade. Takeaway: the long-term odds look decent for growth, but anyone treating these numbers as destiny rather than rough sketches is kidding themselves.
Asset classes
- Stocks 100%
Asset classes: 100% stocks, zero of everything else. That’s not “balanced,” that’s “I heard bonds are for old people.” It’s like building a diet entirely out of protein — sure, you’ll grow, but you’ll also suffer when your system panics. With no bonds, cash, or anything stabilizing, every market tantrum goes straight through to your net worth. On the flip side, you are at least honest about chasing growth. Takeaway: this setup suits someone who can emotionally and financially stomach big swings, not someone who wants a smooth ride.
Sectors
- Technology 21%
- Financials 17%
- Industrials 14%
- Consumer Discretionary 11%
- Health Care 8%
- Energy 7%
- Telecommunications 7%
- Basic Materials 5%
- Consumer Staples 5%
- Utilities 2%
- Real Estate 2%
Sector-wise, it’s a pretty textbook global spread, but with a clear tech-and-financials backbone: technology at 21%, financials at 17%, then industrials and consumer areas filling out the middle. No single sector is totally off the rails, which is surprisingly sane, but don’t be fooled — that tech chunk is effectively glued to those mega-cap darlings we saw earlier. When growthy parts of the market wobble, this portfolio won’t be shy about it. Takeaway: sector risk is not extreme, but it’s also not the calm, boring profile that “balanced” might lead someone to expect.
Regions
- North America 65%
- Europe Developed 14%
- Japan 7%
- Asia Developed 5%
- Asia Emerging 4%
- Australasia 2%
- Africa/Middle East 1%
- Latin America 1%
Geographically, this is “America and friends.” Around 65% in North America, then Europe, Japan, and the rest of the world sharing the scraps. It’s basically trusting the global index to decide where the party is, and surprise: the US dominates. To be fair, that actually mirrors the real global market weightings, so it’s not crazy — just heavily tied to one economic region’s fate. Takeaway: decent global footprint for something so simple, but anyone thinking they’re insulated from US market drama is in for a rude awakening.
Market capitalization
- Mega-cap 36%
- Large-cap 26%
- Mid-cap 16%
- Small-cap 14%
- Micro-cap 7%
The market cap split is what you’d expect from a broad index plus a small-cap value bolt-on: 36% mega-cap, 26% large, then a real tail into mid, small, and even micro caps (7%). That Avantis small cap value fund is clearly dragging the portfolio down the size spectrum. This adds some welcome difference from a pure mega-cap hugger, but it also invites extra volatility from the scrappier end of the market. Takeaway: the size mix is actually interesting — not reckless, but definitely not for someone who panics when the small stuff gets noisy.
True holdings
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NV NVIDIA Corporation 3.13%
Part of fund(s):- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
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AA Apple Inc 2.84%
Part of fund(s):- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
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MS Microsoft Corporation 2.00%
Part of fund(s):- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
-
AM Amazon.com Inc 1.46%
Part of fund(s):- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
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GO Alphabet Inc Class A 1.36%
Part of fund(s):- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
-
23 Taiwan Semiconductor Manufacturing Co. Ltd. 1.18%
Part of fund(s):- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
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GO Alphabet Inc Class C 1.09%
Part of fund(s):- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
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AV Broadcom Inc 1.04%
Part of fund(s):- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
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ME Meta Platforms Inc. 1.03%
Part of fund(s):- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
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TS Tesla Inc 0.83%
Part of fund(s):- LS 1x Tesla Tracker ETP Securities GBP
- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
- Top 10 total 15.97%
The look-through holdings scream “index hugger with a mega-cap crush.” NVIDIA, Apple, Microsoft, Amazon, Alphabet, Meta, Tesla — it’s the usual celebrity guest list of global ETFs. You don’t hold them directly, but they’re very much driving the bus through the SPDR ACWI IMI ETF. Overlap is surely higher than reported because we only see top-10 holdings, so your apparent diversification hides a classic concentration in the giants. Takeaway: if those top tech-ish names collectively sneeze, your portfolio catches a cold, no matter how diversified the marketing materials claim it is.
Risk contribution
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SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
Weight: 80.00% 77.9% -
Avantis Global Small Cap Value UCITS ETF USD Acc EUR
Weight: 20.00% 22.1%
Risk contribution shows who’s really shaking the portfolio, not just who looks big on paper. Your 80% SPDR ACWI IMI fund contributes about 78% of risk; the 20% small cap value fund punches slightly above its weight at 22%. Nothing absurd here, but that 20% chunk is clearly the “troublemaker friend” — smaller slice, more attitude. Risk contribution is basically asking, “who’s causing the mood swings?” Takeaway: if the ride ever feels too bumpy, trimming the noisy 20% would do more than fiddling with the main index chunk, even though that one looks bigger.
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 actually behaving itself. The current mix sits on or very near the frontier, meaning that for the level of risk you’re taking, you’re not leaving obvious return on the table — at least according to the short, slightly flimsy dataset. Sharpe ratio of 0.43 isn’t heroic, but the fact it lines up with the “best possible” from these holdings suggests the weights are not random chaos. Takeaway: structurally, the risk/return tradeoff is surprisingly respectable. Just don’t forget the whole picture rests on only 1.5 years of history, which is barely an economic sneeze.
Ongoing product costs
- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF 0.40%
- Weighted costs total (per year) 0.32%
Total TER around 0.32% is… fine. Not egregious, not brag-worthy. You’re not getting robbed, but you’re not shopping in the absolute bargain bin either. Fees are like slow leaks in a tire — you only notice after a long drive. Over decades, paying an extra fraction of a percent adds up to a real number, even if it looks harmless now. Mild roast: for a portfolio this simple — one big index and a factor tilt — you could probably achieve something similar a bit cheaper, but at least you didn’t wander into 1%+ clown territory.
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