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Quietly overcomplicated global tracker that pays extra fees to mostly hug one big index

Report created on May 5, 2026

Risk profile Info

4/7
Balanced
Less risk More risk

Diversification profile Info

4/5
Broadly Diversified
Less diversification More diversification

Positions

Structurally this portfolio is basically a world index in a trench coat, with two sidekicks awkwardly hanging on. You’ve got 70% in a global all‑country ETF, then 15% in a US ETF that largely duplicates what’s already inside that global fund, plus 15% in an emerging markets value factor slice. It looks “diversified,” but most of the heavy lifting is just the big ACWI fund. The extra funds add a bit of spice but also some redundancy, like ordering three combo meals that all come with fries. Overall, the structure screams, “I want to tweak the market a bit,” while mostly just following it around.

Growth Info

Historically, this thing has actually crushed it: a 22.11% CAGR turning €1,000 into €1,649 in under three years is not exactly tragic. CAGR, by the way, is just the average yearly speed of growth, like your trip average including traffic jams. You even beat both the US and global benchmarks by a couple of percentage points, while suffering a max drawdown of “only” -21.17%, roughly in line with the world. But 21 days explain 90% of returns, so most of the time it just plods along and then randomly has a few hero days. Past data here is more lucky streak than guaranteed pattern.

Projection Info

The Monte Carlo projection basically says, “Relax, but not too much.” Monte Carlo is just a nerdy way of running the portfolio through a thousand alternate futures to see what might happen if markets go wild in different ways. Median outcome: €1,000 becomes about €2,772 over 15 years, which is fine but nowhere near the get-rich-fast fantasy implied by recent history. The likely range from about €1,786 to €4,148 shows reality has plenty of wiggle. And yes, a grim 5% of paths barely beat cash. So the portfolio’s future looks decent, but the simulation quietly reminds that the turbocharged backtest was probably the exception, not the rule.

Asset classes Info

  • Stocks
    100%

Asset class “diversification” here is easy to summarize: there isn’t any. You’re 100% in stocks, full send, no brakes, no seatbelt labelled bonds or cash. For a portfolio wearing a “balanced” risk label, this is more like an all‑equity growth engine pretending to be sensible. Asset classes are basically different flavours of risk, and you’ve decided every flavour should be equity. That means when markets are kind, you ride the wave; when they throw a tantrum, everything sulks at once. It’s a clean, simple structure, but simplicity here mainly means there’s nowhere to hide in a bad crash.

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, the portfolio has a very obvious tech crush: about 30% in technology, comfortably above what a truly neutral global mix would look like. Financials and industrials show up as supporting actors, but this is still a story dominated by chips, code, and platforms. That’s great when innovation is being rewarded and narratives are hot, not so fun if valuations finally discover gravity. Sectors are just different slices of the economy, and this slice is leaning heavily into the high‑beta, growthy end of things. It’s not outrageously concentrated, but let’s not pretend this is some sector‑balanced, boring‑is‑beautiful setup either.

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, this is “world portfolio” in theory and “US plus supporting cast” in practice. About 62% sits in North America, and then the rest of the planet gets divvied up into single‑digit consolation prizes. For a European investor, there’s almost no home‑bias at all; Europe Developed barely cracks 10%, which is ironically more index‑purist than many “professionally designed” setups. The downside: if US markets catch a cold, this portfolio gets pneumonia. Global diversification technically exists, but the weightings are so benchmark‑style that you’re still basically betting that the US remains the main character of the financial universe.

Market capitalization Info

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

Market cap exposure is very predictable: 50% mega‑caps, 35% large‑caps, and a token 14% in mid‑caps. So this is the classic “own the giants” arrangement, not some scrappy underdog small-cap fest. Market cap is just a fancy way of saying how big the companies are; you’ve clearly sided with the incumbents. That means stability and index‑like behaviour, but also a heavy dependence on a handful of global behemoths dragging everything around. If the titans stumble or just go sideways for years, there’s not much offset coming from the smaller end of town. It’s safe‑looking concentration disguised as diversification by headcount.

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 tell the real story: this is basically the Mega‑Cap Tech Fan Club. NVIDIA, Apple, Microsoft, TSMC, Amazon, Alphabet, Meta, Tesla — the usual suspects all show up, and they do it through multiple ETFs. With only top‑10 coverage you’re already at 4.43% in NVIDIA and 3.90% in Apple, which means the true exposure is probably higher. Overlap here isn’t a bug, it’s the whole design. Different ETFs, same giants. That’s the hidden concentration problem: it feels diversified because there are many tickers, but the actual drivers are a tiny handful of very famous logos.

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 where the illusion of complexity fully dies. Risk contribution shows which positions actually drive the portfolio’s mood swings, not just how big they are on paper. Here, the top three holdings are… literally the entire portfolio, contributing 100% of total risk in line with their weights. The ACWI ETF alone is responsible for almost 70% of it. There’s no secret wild child in the corner quietly blowing up your volatility — the risk is exactly where you’d expect, just concentrated in one giant “own everything” wrapper. It’s tidy, but also slightly pointless to pretend the smaller slices materially change the ride.

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 data politely points out that your S&P 500 ETF and your global ACWI ETF move almost identically. Correlation is just how much two things dance to the same beat, and these two are basically doing synchronized choreography. That’s not shocking — the US is a huge chunk of global equities — but it does make the separate holdings feel a bit theatrical. You pay for two products, get almost the same market rhythm, and call it diversification. In a real downturn, they’ll likely fall together in a very coordinated and unhelpful way. Different tickers, same roller coaster.

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 chart, this portfolio is politely underachieving. The efficient frontier is the curve showing the best possible return for each level of risk using only your existing ingredients. Your current mix sits about 1.09 percentage points below that curve at its risk level, which is like jogging with ankle weights for no reason. The Sharpe ratio — return per unit of risk, like “how much pain for each unit of gain” — is 1.24, while you could hit 1.76 with a better blend of the same stuff. Even the minimum variance version gets a higher Sharpe. The message: your ingredients are fine; the recipe is just mildly inefficient.

Ongoing product costs Info

  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD 0.40%
  • SPDR S&P 500 UCITS ETF USD Acc EUR 0.03%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF 0.45%
  • Weighted costs total (per year) 0.38%

Costs are where this portfolio quietly shoots itself in the foot. A total TER of 0.38% for what is essentially “buy the world and move on” is… generous to the fund providers. Especially when 70% sits in a 0.45% ACWI product while a 0.03% S&P ETF rides shotgun doing nearly the same large‑cap developed‑market job. TER is just the annual fee drag; think of it as a small but relentless leak in your return bucket. For a plain‑vanilla index‑hugging structure, you’re paying closer to craft‑beer prices for what tastes suspiciously like supermarket lager.

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