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Efficient looking stock salad hiding a boring all in on big US growth and factor buzzwords

Report created on Apr 23, 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

This portfolio is basically two giant world trackers wearing different badges plus three value-flavoured side dishes. On paper it looks nicely split 35 / 35 / 10 / 10 / 10, but in practice the first two funds are doing almost the same job while the three value ETFs are just sprinkling seasoning on top. It’s the investing version of ordering two large margherita pizzas and then three small “chef special” slices and calling it a buffet. The structure gives an illusion of sophistication while most of the heavy lifting is just plain global equity beta with some duplicated effort baked in.

Growth Info

Historically this thing has been on a heater: €1,000 turning into €1,650 in about two and a half years, with a 22.49% CAGR. That handily beats both the US and global benchmarks by around 3 percentage points a year, so yes, it’s been punching above its weight. But that came with a -20.69% max drawdown, so the ride wasn’t exactly smooth. Needing only 22 days to generate 90% of returns also screams “miss a handful of good days and the magic disappears.” Past data is yesterday’s weather: nice to brag about, terrible as a forecast.

Projection Info

The Monte Carlo projection basically says, “Expect something between champagne and mild disappointment.” Simulations put the median 15‑year outcome at €2,861 from €1,000, but the possible range stretches from about €1,093 to €7,997. Monte Carlo is just a fancy way of rerunning history a thousand different ways to see what could happen if markets throw dice again. The average annualized return across simulations at 8.27% is far tamer than your recent joyride, reminding that the last few years were closer to catching a good wave than unlocking a permanent cheat code.

Asset classes Info

  • Stocks
    100%

Asset class breakdown is simple: 100% stocks, 0% anything else. This isn’t “balanced” so much as “stocks with a marketing label.” There’s no bonds, no cash sleeve, no defensive anything — just one big equity bet dressed up in global and factor language. That’s fine if someone consciously wants a full-equity rollercoaster, but paired with a moderate risk label it’s a bit of a joke. Asset classes are the big building blocks; here all the bricks are the same colour. When markets are kind, it looks brave; when they aren’t, it just looks naked.

Sectors Info

  • Technology
    29%
  • Financials
    16%
  • Industrials
    10%
  • Consumer Discretionary
    9%
  • Health Care
    9%
  • Telecommunications
    8%
  • Consumer Staples
    5%
  • Energy
    5%
  • Basic Materials
    4%
  • Utilities
    3%
  • Real Estate
    2%

Sector-wise, this is a closet tech and growth fan pretending to be a value connoisseur. Technology at 29% is the main character, with financials a distant second at 16% and everything else picking up scraps. For a portfolio stuffed with “value factor” products, having mega‑cap growth darlings dominate via the broad funds is a bit ironic. It’s like talking nonstop about bargain hunting and then spending most of the budget in the flagship designer store. When one sector drives that much of the story, sector “diversification” becomes more of a comforting chart than genuine balance.

Regions Info

  • North America
    63%
  • Europe Developed
    18%
  • Asia Developed
    7%
  • Asia Emerging
    5%
  • Japan
    4%
  • Latin America
    1%
  • Africa/Middle East
    1%
  • Australasia
    1%

Geographically this is “US plus some tourists.” About 63% sits in North America, with developed Europe at 18% and the rest of the world fighting over leftovers. Asia emerging at 5% barely registers, and Latin America, Africa, and Australasia are rounding errors. For a portfolio featuring a global index and global value ETF, the end result is still “America or bust, apparently.” This isn’t unusual, but it’s a reminder that “global” in practice often means “mostly US with a sprinkling of everyone else.” Global diversification here is more accent than main ingredient.

Market capitalization Info

  • Mega-cap
    45%
  • Large-cap
    38%
  • Mid-cap
    16%

Market cap exposure screams comfort zone: 45% mega‑cap, 38% large‑cap, and a polite 16% mid‑cap. Small caps might as well not exist. So this portfolio is tied firmly to the fortunes of the world’s biggest, most widely owned companies. That reduces the idiosyncratic chaos of tiny names, but it also means the portfolio goes where the mega‑caps go, full stop. When big companies boom, everything looks genius; when they stall, the whole thing starts to feel sluggish. Calling it diversified while ignoring the lower end of the size spectrum is a bit generous.

True holdings Info

  • NVIDIA Corporation
    4.29%
    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
    3.78%
    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
    2.73%
    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
  • Amazon.com Inc
    2.04%
    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
    1.69%
    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.
    1.56%
    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
  • Broadcom Inc
    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
  • Alphabet Inc Class C
    1.39%
    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.
    1.27%
    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
    1.06%
    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 21.26%

The look‑through holdings reveal the usual suspects running the show: NVIDIA, Apple, Microsoft, Amazon, Alphabet, Meta, Tesla — the entire Magnificent‑ish lineup. NVIDIA alone at 4.29% and Apple at 3.78% show that overlapping ETFs are quietly stacking the same names again and again. And remember, this is only the top 10 of each ETF, so the real overlap is almost certainly higher. In other words, those different tickers are mostly just different wrappers around the same mega‑cap growth core. It's less a carefully curated orchestra and more the same hit single on repeat.

Risk contribution Info

  • SPDR S&P 500 UCITS ETF USD Acc EUR
    Weight: 35.00%
    37.5%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    Weight: 35.00%
    35.5%
  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
    Weight: 10.00%
    9.9%
  • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
    Weight: 10.00%
    9.2%
  • iShares MSCI Europe Value Factor UCITS
    Weight: 10.00%
    7.9%

Risk contribution exposes who’s actually driving the drama: the S&P 500 ETF and ACWI ETF together are about 70% of total risk, with the EM value ETF rounding things out so the top three hit nearly 83%. The value funds look cute at 10% each, but they’re background characters in volatility terms. Risk contribution is like checking who’s shaking the table, not just who’s sitting at it; and here, the big bland core funds are doing all the shouting. The structure pretends to be a five‑way team, but it’s really a two‑and‑a‑half‑player game.

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 section gives the joke away: your S&P 500 ETF and ACWI ETF move almost identically. That means two huge positions are basically the same song in slightly different keys. Correlation just measures how often things move together; high correlation means when one jumps off a cliff, the other is usually right behind. So owning big slices of both doesn’t magically create safety — it mostly just piles more chips on the same equity square. It looks like diversification on a statement, but in a crash, they’re holding hands on the way down.

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 chart quietly roasts the current setup. At a 13.27% risk level, this portfolio sits 4.69 percentage points below what could be achieved by just rearranging the same funds more intelligently. The max‑Sharpe portfolio offers a Sharpe of 1.89 versus your 1.3, with higher returns for only a touch more risk. Even the min‑variance mix beats your Sharpe at 1.67. The efficient frontier is basically saying: “You picked decent ingredients, then made a slightly mediocre recipe.” The good news: the problem isn’t the ingredients, it’s the proportions.

Ongoing product costs Info

  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD 0.40%
  • iShares MSCI Europe Value Factor UCITS 0.25%
  • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR 0.30%
  • SPDR S&P 500 UCITS ETF USD Acc EUR 0.03%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF 0.12%
  • Weighted costs total (per year) 0.15%

Costs are the one area where this portfolio doesn’t embarrass itself. A total TER around 0.15% is impressively low, helped massively by that 0.03% S&P 500 ETF doing the heavy lifting. The factor and EM funds are pricier, but in small enough doses that they don’t wreck the overall bill. This is the rare case where the menu looks more expensive than the actual tab. Fees are under control — you must have clicked the cheap ETFs on purpose or got very lucky. At least the performance drag isn’t coming from the cost line.

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