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Concentrated home bias with strong tech tilt and historically high growth but meaningfully elevated downside risk

Report created on Aug 17, 2026

Risk profile Info

5/7
Growth
Less risk More risk

Diversification profile Info

5/5
Highly Diversified
Less diversification More diversification
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Positions

This portfolio is built around a single core ETF in Slovenia, which by itself makes up just over 44% of the total. Around 25% sits in a mix of global equity ETFs, while the remaining holdings are a collection of individual stocks plus modest positions in gold and cryptocurrencies. That structure combines a “one big anchor” with a satellite of more focused ideas. A setup like this means the overall behaviour is heavily shaped by that main ETF, while the smaller positions can still noticeably influence returns during big moves. When one position is this dominant, understanding its index, currency, and volatility profile is key to understanding the whole portfolio.

Growth Info

From late 2020 to mid‑2026, €1,000 in this portfolio grew to about €2,817, a compound annual growth rate (CAGR) of 20.94%. CAGR is the smoothed “per‑year” growth rate, like averaging your speed over a long road trip. Over the same period, both the US and global equity markets returned less, so this mix has outpaced broad benchmarks. The flip side is a deeper maximum drawdown of roughly ‑33%, meaning the portfolio fell by about a third from peak to trough and took nearly a year and a half to recover. That pattern—strong upside with sharper, longer drawdowns—is typical of more growth‑tilted, concentrated approaches.

Projection Info

The Monte Carlo projection uses the portfolio’s historical ups and downs to simulate many possible 15‑year paths for a €1,000 investment. Think of it as running the past in thousands of shuffled sequences to see a range of future outcomes, not a single forecast. The median outcome of around €2,287 suggests moderate real growth, but the wide possible range—roughly €962 to €5,170 between the 5th and 95th percentiles—shows substantial uncertainty. A 66% chance of ending with more than you started is positive, yet it still leaves meaningful room for flat or negative results. As always, these simulations depend on past behaviour, which may not repeat in the same way.

Asset classes Info

  • No data
    50%
  • Stocks
    42%
  • Crypto
    8%

On the asset‑class view, about 42% is clearly identified as stocks, 8% as crypto, and half falls into “no data,” which mainly reflects data gaps rather than a true asset mix. The visible slice already points to a growth‑oriented profile with higher‑volatility components like equities and cryptocurrencies rather than lower‑risk assets such as bonds. Crypto’s 8% share can meaningfully amplify swings even though it’s a minority position. Because half the portfolio isn’t classified in this breakdown, the true balance between growth and stability can’t be fully seen here, but the disclosed portion already leans clearly toward return‑seeking assets over defensive ones.

Sectors Info

  • Health Care
    12%
  • Technology
    9%
  • Crypto
    8%
  • Basic Materials
    7%
  • Consumer Discretionary
    5%
  • Financials
    4%
  • Industrials
    3%
  • Real Estate
    1%
  • Energy
    1%

This breakdown covers the equity portion of your portfolio only.

Sector‑wise, health care is the single largest identifiable area at 12%, followed by technology at 9%, then smaller allocations to basic materials, consumer, financials, industrials, real estate, energy, and an 8% slice in crypto. This creates a blend of defensive‑ish health care exposure and more cyclical or growth‑sensitive segments. Tech and crypto together form a meaningful innovation‑tilted bucket, which tends to benefit strongly in risk‑on markets but can be hit hard when interest rates rise or sentiment shifts. The presence of basic materials, energy and real estate adds some linkage to the real‑asset and commodity cycle, offering a different driver of returns than purely digital or service sectors.

Regions Info

  • Europe Developed
    14%
  • No data
    8%
  • North America
    8%
  • Australasia
    6%
  • Asia Developed
    3%
  • Asia Emerging
    3%

This breakdown covers the equity portion of your portfolio only.

Geographically, the visible data shows a tilt toward developed Europe at 14%, with additional exposure to North America, Australasia, and developed and emerging Asia. There is also an 8% “no data” category, and some regional detail is embedded inside ETFs that isn’t fully captured here. Even so, the picture suggests a broad spread across multiple regions rather than a pure single‑country focus, which supports the high diversification score. At the same time, the large Slovenian ETF introduces a noticeable home‑bias element relative to global benchmarks that are more heavily weighted to the US. That can help align the portfolio with local conditions but also ties outcomes more closely to one region’s fortunes.

Market capitalization Info

  • Large-cap
    22%
  • Mega-cap
    11%
  • Mid-cap
    4%
  • Small-cap
    3%
  • Micro-cap
    2%

This breakdown covers the equity portion of your portfolio only.

By market capitalization, this portfolio leans toward larger companies: mega‑caps and large‑caps together make up about a third of the allocation, with mid‑, small‑, and micro‑caps filling in the rest. Market cap simply measures a company’s size on the stock market, and bigger firms often have more diversified businesses and steadier earnings, which can dampen some volatility. The smaller‑cap slice, while modest in percentage terms, can still add punch because those names often move more dramatically. This mix blends the stability of established leaders with some exposure to earlier‑stage growth, which can boost returns in strong markets but may lag when investors flock to safety.

True holdings Info

  • Novo Nordisk A/S
    5.91%
  • AstraZeneca PLC
    5.42%
  • Mercadolibre Inc
    4.76%
  • Tharisa plc
    2.95%
  • Ganfeng Lithium Co. Ltd
    2.62%
  • Invinity Energy Systems PLC
    1.77%
  • NVIDIA Corporation
    1.51%
    Part of fund(s):
    • Xtrackers MSCI World Information Technology UCITS ETF 1C
  • Apple Inc.
    1.38%
    Part of fund(s):
    • Xtrackers MSCI World Information Technology UCITS ETF 1C
  • Microsoft Corporation
    0.86%
    Part of fund(s):
    • Xtrackers MSCI World Information Technology UCITS ETF 1C
  • BHP Group Ltd
    0.81%
    Part of fund(s):
    • L&G Asia Pacific ex Japan Equity UCITS ETF
  • Top 10 total 27.99%

This breakdown covers the equity portion of your portfolio only.

The look‑through data, based only on ETF top‑10 holdings, shows relatively limited overlap between your individual stocks and the ETFs. Novo Nordisk, AstraZeneca, and other single‑name positions appear only as direct holdings, not via funds, while the ETFs add global giants like NVIDIA, Apple, and Microsoft. Overlap coverage is modest, so hidden concentration may be somewhat understated, but the available picture suggests that most of your stock‑specific risk is truly active rather than unintentionally doubled through funds. That means single‑company ideas like Mercadolibre or Tharisa have a clear, direct impact on the portfolio, which can be a strength if you want targeted bets but also increases idiosyncratic risk.

Risk contribution Info

  • Expat Slovenia SBI Top UCITS ETF
    Weight: 44.10%
    38.1%
  • Ethereum
    Weight: 6.49%
    20.7%
  • Xtrackers MSCI World Information Technology UCITS ETF 1C
    Weight: 8.80%
    7.5%
  • Mercadolibre Inc
    Weight: 4.76%
    7.1%
  • L&G Asia Pacific ex Japan Equity UCITS ETF
    Weight: 9.66%
    5.8%
  • Top 5 risk contribution 79.2%

Risk contribution shows how much each holding drives the portfolio’s overall ups and downs, which can differ a lot from simple weight. Your largest position, the Slovenia ETF, is 44% of the portfolio but contributes about 38% of total risk, so its volatility is significant but not extreme for its size. Ethereum is the standout: at just 6.5% weight, it drives over 20% of total risk, a risk/weight ratio above 3. That’s like a small but very loud instrument dominating the orchestra. Mercadolibre also punches above its weight in risk terms. Overall, the top three risk contributors account for about two‑thirds of total risk, signalling meaningful concentration in how the portfolio behaves day to day.

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.

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On the risk‑return chart, the current portfolio sits below the efficient frontier by about 3.7 percentage points at its current risk level. The efficient frontier is the curve of the best possible return for each level of risk using only your existing holdings in different weights. The Sharpe ratio, which measures return per unit of risk after a risk‑free rate, is 1.31 for the current mix, compared with 1.95 for the optimal reweighting and 1.62 for the minimum‑variance version. That gap implies there is room, in theory, to improve risk‑adjusted returns just by changing position sizes, without adding new assets. At the same time, the existing allocation already delivers high expected returns relative to its volatility.

Ongoing product costs Info

  • Xetra-Gold 0.36%
  • L&G Asia Pacific ex Japan Equity UCITS ETF 0.10%
  • Expat Slovenia SBI Top UCITS ETF 1.00%
  • Xtrackers MSCI World Information Technology UCITS ETF 1C 0.25%
  • Weighted costs total (per year) 0.49%

The overall total expense ratio (TER) across the funds is about 0.49% per year. TER is the annual fee taken by funds to cover management and running costs, and it comes out of returns before you see them. Within the mix, the Asia Pacific ETF and the tech ETF are relatively low‑cost, while the Slovenia ETF at 1.00% is noticeably higher. Because that ETF holds such a large weight, its cost has an outsized impact on the portfolio’s blended TER. Even differences of a few tenths of a percent can compound into a meaningful amount over many years, so this is an area where the structure is functional but not ultra‑low‑cost.

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