Globally diversified equity portfolio with strong recent returns and slightly suboptimal risk efficiency

Report created on Apr 12, 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 very simple and clean: three global equity ETFs, with 80% in a global all‑world fund, 10% in a US market tracker, and 10% in an emerging markets value factor ETF. So it is 100% stocks, mostly riding broad global equity markets with a small tilt toward the US and value-tilted emerging markets. This kind of structure is easy to understand and maintain, which is a real strength. The heavy weight in the all‑world ETF means the overall mix stays close to global market weights. The main takeaway is that this is a straightforward, broadly diversified stock portfolio with just enough tilting to add some character without becoming complicated.

Growth Info

Over the period from late 2023 to April 2026, €1,000 grew to about €1,559, which is a compound annual growth rate (CAGR) of 19.88%. CAGR is like an average yearly “speed” over the whole journey. This beat both the US market and the global market benchmarks by around 2 percentage points per year, while having similar or slightly smaller maximum drawdowns. The worst drop was about -21%, which is meaningful but normal for an all‑equity portfolio. Only 18 days delivered 90% of gains, underlining how missing a few big days can hurt. Historically, this mix has been rewarded for the risk taken.

Projection Info

The Monte Carlo simulation projects many possible future paths by “shuffling” historical return and volatility patterns 1,000 times. Think of it like running 1,000 alternate timelines based on what markets have done before. The median outcome turns €1,000 into about €2,723 over 15 years, an annualized 8.16% across all simulations, with 75% of paths ending positive. However, the range is wide: from around €1,027 at the pessimistic 5th percentile to €7,612 at the optimistic 95th. This shows that long‑term stock investing has historically been rewarding but far from guaranteed; outcomes can vary a lot, especially over shorter periods or in unusual market regimes.

Asset classes Info

  • Stocks
    100%

All of the portfolio is invested in stocks, with no bonds, cash-like instruments, or alternatives. That means there is strong exposure to global economic growth and corporate earnings, but also full participation in equity market ups and downs. Compared with “balanced” benchmarks that usually include a meaningful bond allocation, this setup is more growth‑oriented and likely more volatile. On the positive side, this all‑equity stance is very simple and historically has offered higher long‑term returns than mixes with more defensive assets. The key implication is that this suits investors who can tolerate sizeable swings in value without needing to sell at bad times.

Sectors Info

  • Technology
    29%
  • Financials
    16%
  • Industrials
    10%
  • Consumer Discretionary
    10%
  • Telecommunications
    8%
  • Health Care
    8%
  • Energy
    5%
  • Consumer Staples
    5%
  • Basic Materials
    4%
  • Utilities
    3%
  • Real Estate
    2%

Sector exposure is tilted toward technology (about 29%), with financials, industrials, and consumer discretionary next in line. This broadly resembles major global indices today, where tech and tech‑adjacent firms dominate. A tech‑heavy profile benefits when innovation, digitalization, and productivity trends are strong, as seen in recent years, but can be more sensitive when interest rates rise or sentiment shifts away from growth companies. The positive here is that the mix across financials, industrials, health care, and other areas is still fairly balanced, which supports diversification. The main takeaway: risks are not one‑sector‑only, but tech remains a big performance driver.

Regions Info

  • North America
    62%
  • Europe Developed
    12%
  • Asia Developed
    9%
  • Asia Emerging
    7%
  • Japan
    4%
  • Latin America
    2%
  • Africa/Middle East
    1%
  • Australasia
    1%
  • Europe Emerging
    1%

Geographically, around 62% is in North America, with the rest spread across developed and emerging regions. That’s actually pretty close to global market weights, since US markets dominate world equity capitalization. This alignment with global standards is a good sign and suggests the portfolio is not making huge regional bets. That said, having most exposure tied to one major economy and currency means results will strongly follow North American market cycles. The emerging markets slice—particularly Asia—is modest but present, offering some growth potential and diversification. Overall, the geographic stance is well-balanced and consistent with a mainstream global equity approach.

Market capitalization Info

  • Mega-cap
    50%
  • Large-cap
    35%
  • Mid-cap
    14%

About half the portfolio is in mega‑cap companies, with most of the rest in large caps and a smaller slice in mid caps. Mega‑caps are the very largest firms in the market; they typically have global footprints, stronger balance sheets, and more stable access to capital. This tilt tends to reduce idiosyncratic risk compared with heavy small‑cap exposure and aligns closely with standard global indices. The trade‑off is potentially less exposure to the higher growth—but higher volatility—often seen in smaller companies. The key takeaway is that risk here is more about broad market swings and less about individual company blow‑ups.

True holdings Info

  • NVIDIA Corporation
    4.49%
    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
    3.95%
    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.
    2.28%
    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
    2.12%
    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
    1.80%
    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
    1.49%
    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
    1.49%
    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.
    1.33%
    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
    1.13%
    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 22.83%

Looking through ETF top holdings, a lot of exposure clusters in a handful of mega‑cap growth names: NVIDIA, Apple, Microsoft, TSMC, Amazon, Alphabet, Broadcom, Meta, and Tesla together already form a notable slice. Several of these appear through multiple ETFs, creating hidden concentration even though the portfolio looks simple. Overlap is likely even higher because only top‑10 ETF holdings are captured here. This pattern is typical for broad global equity funds today and aligns with global indices. The takeaway is that while the structure feels diversified, performance will still be strongly driven by a relatively small group of dominant global companies.

Risk contribution Info

  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    Weight: 80.00%
    79.7%
  • SPDR S&P 500 UCITS ETF USD Acc EUR
    Weight: 10.00%
    10.6%
  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
    Weight: 10.00%
    9.8%

Risk contribution measures how much each holding drives overall portfolio ups and downs, which can differ from simple weights. Here, the all‑world ETF is 80% of the capital and contributes about 80% of total risk, which is neatly aligned. The S&P 500 ETF slightly over‑contributes to risk versus weight, while the emerging markets value ETF contributes a bit less than its 10% allocation. There are no single positions with outsized risk beyond their size, and the three funds together explain 100% of volatility. The implication is that risk is concentrated where the money is—primarily in broad global equities—rather than in any niche satellite bet.

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

Correlation shows how similarly investments move; a correlation close to 1 means they move almost in lockstep. Here, the S&P 500 ETF and the global all‑world ETF are highly correlated, which makes sense since US stocks are a big piece of global indices. This means that adding the S&P 500 fund doesn’t dramatically change the portfolio’s overall behavior; it mostly layers extra US exposure on top of what’s already there. High correlation isn’t bad, but it limits diversification benefits. The emerging markets value ETF likely brings more differentiated movement, modestly improving diversification even though its weight is relatively small.

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 efficient frontier plot compares the current portfolio’s risk/return mix with the best achievable combinations using the same three holdings. The Sharpe ratio, a measure of return per unit of risk above the risk‑free rate, is 1.11 for the current mix, versus 1.65 for the optimal and 1.34 for the minimum variance portfolio. The current portfolio sits about 1.39 percentage points below the frontier at its risk level, meaning the same holdings could be weighted slightly better for more return or less risk. The good news is it’s already in a decent zone; fine‑tuning weights would be about optimization, not fixing something broken.

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) 0.40%

Total ongoing fees, measured by TER (Total Expense Ratio), sit around 0.40–0.45% for the main ETFs, with a blended portfolio TER of about 0.40%. TER is the annual percentage charged by funds to cover management and operating costs. These levels are competitive for factor and all‑world products, though some plain vanilla index funds can be cheaper. Over long periods, even small cost differences compound, but staying around the 0.4% range is already a solid, cost‑conscious starting point. Overall, costs here are reasonable and not a major drag on returns, which is a meaningful positive for long‑term compounding.

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