Concentrated growth portfolio with strong single stock tilt and broadly diversified global backbone
Report created on Mar 24, 2026Risk 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
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VW Vanguard FTSE All-World UCITS ETF USD Accumulation
VWCE - IE00BK5BQT80 48.94% -
AI Airbus SE
AIR - NL0000235190 38.90% -
IS iShares Core MSCI Emerging Markets IMI UCITS
IS3N - IE00BKM4GZ66 7.48% -
DB Xtrackers II Eurozone Inflation-Linked Bond UCITS ETF 1C
DBXK - LU0290358224 4.68%
This portfolio is built around three main pieces: a big global equity ETF core, a very large single stock position, and a small allocation to emerging markets and inflation-linked bonds. Roughly half sits in the global ETF, just under 40% in one industrial company, with the rest in a diversified emerging markets ETF and a eurozone inflation-linked bond ETF. Structurally, this is mostly an equity portfolio with a “barbell” between broad diversification and a big, focused bet. That mix can work well if the single stock thesis is strong and intentional. The key question is whether this large tilt matches the desired comfort level with swings and company‑specific risk.
Growth
From mid‑2019 to early‑2026, €1,000 in this portfolio grew to about €1,690, a compound annual growth rate (CAGR) of 9.74%. CAGR is the “average yearly speed” of growth over the whole journey. This lagged the global market’s 10.85% CAGR and the US market’s much higher 19.93%. The portfolio also had a deep maximum drawdown of about -42%, compared with around -34% for global equities and only -5% for the US market in this period. That combination—slightly lower return than global with noticeably higher drawdowns—shows the cost of concentration. It underlines how a large single-stock exposure can dominate both upside and downside compared with broad indexes.
Projection
The Monte Carlo projection uses the portfolio’s past return and volatility patterns to simulate many possible future paths. Think of it as rerunning history 1,000 different ways by shuffling good and bad years, then seeing where €1,000 might end up in 10 years. The median outcome shows roughly a 126% gain, while the pessimistic 5th percentile suggests losses near -46%. About 83% of simulations ended positive, and the average simulated return was 8.82% a year. This range illustrates both the power and uncertainty of a growth‑oriented, equity‑heavy approach. It’s a useful guide, but not a promise—future markets can behave very differently from the past.
Asset classes
- Stocks 95%
- Bonds 5%
Asset‑class wise, about 95% is in stocks and only around 5% in bonds, via a eurozone inflation‑linked ETF. That’s clearly a growth‑oriented stance, typical of someone prioritizing long‑term upside over short‑term stability. The small bond slice helps a little with cushioning and inflation protection, but it’s too small to dramatically smooth volatility. Compared with a more balanced multi‑asset mix, this setup will feel much more equity‑like during crashes and rallies. If short‑term capital preservation or smoother returns matter more, increasing the stabilizing assets portion over time could help match emotional comfort with the actual ride.
Sectors
- Industrials 45%
- Technology 16%
- Financials 10%
- Consumer Discretionary 6%
- Telecommunications 5%
- Health Care 5%
- Consumer Staples 3%
- Basic Materials 2%
- Energy 2%
- Utilities 1%
- Real Estate 1%
Sector exposure is dominated by industrials at about 45%, driven by the large Airbus position, with technology, financial services, and consumer cyclicals making up much of the rest. Common global benchmarks tend to be far less tilted toward industrials and more toward technology and healthcare. An industrials‑heavy allocation can be quite cyclical: it may benefit from global growth, trade, and investment cycles but can hurt during recessions or sector‑specific shocks. The positive side is that the ETFs still spread remaining exposure across many sectors, which supports diversification. The key thing is recognising this strong industrials bet and deciding whether that cyclical profile is intentional.
Regions
- Europe Developed 46%
- North America 31%
- Asia Emerging 6%
- Asia Developed 6%
- Japan 3%
- Africa/Middle East 1%
- Latin America 1%
- Australasia 1%
Geographically, the mix leans toward developed Europe at about 46%, then North America around 31%, with smaller slices in emerging Asia, developed Asia, Japan, and a smattering of other regions. Global market benchmarks typically have a heavier US share and relatively less Europe. This tilt means returns and risks are more tied to European economic and policy developments than a purely global cap‑weighted portfolio. That can be attractive if there’s conviction in European recovery or local familiarity. At the same time, it slightly underweights some of the world’s largest growth engines. Still, the presence of multiple regions is a strong positive for basic international diversification.
Market capitalization
- Large-cap 58%
- Mega-cap 28%
- Mid-cap 9%
By market capitalization, the portfolio is dominated by mega and large companies: roughly 86% in mega and big caps combined, with only about 9% in mid caps and very little in smaller companies. Large and mega caps tend to be more established businesses with deeper liquidity and, often, more stable earnings, which can dampen some extremes compared with a small‑cap‑heavy approach. However, it also means less exposure to the potentially higher growth—and higher risk—of smaller firms. This large‑cap tilt is quite aligned with broad global indexes, which is a good sign for structural robustness, even though the single‑stock weighting adds its own twist.
True holdings
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AI Airbus SE 38.90%
-
NV NVIDIA Corporation 2.06%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
-
AA Apple Inc 1.92%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
-
23 Taiwan Semiconductor Manufacturing Co. Ltd. 1.64%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
- iShares Core MSCI Emerging Markets IMI UCITS
-
MS Microsoft Corporation 1.45%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
-
AM Amazon.com Inc 1.00%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
-
GO Alphabet Inc Class A 0.90%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
-
AV Broadcom Inc 0.74%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
-
GO Alphabet Inc Class C 0.73%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
-
ME Meta Platforms Inc. 0.71%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
- Top 10 total 50.05%
Looking through the ETFs, the biggest underlying exposure by far is still the direct Airbus position, at almost 39% of the whole portfolio. The top ETF holdings introduce familiar global giants like NVIDIA, Apple, Microsoft, TSMC, Amazon, Alphabet, Broadcom, and Meta, but each at around 1–2% or less of total exposure. Hidden overlap between ETFs is modest here; the main concentration risk is not duplication but sheer size of the Airbus stake. Because only ETF top‑10 holdings are captured, other smaller positions sit in the background yet still add diversification. Overall, the ETFs provide a wide spread of companies, but their impact is capped by the dominant single stock.
Factors
Factor exposure shows strong tilts toward quality and low volatility, with moderate tilts toward value and yield, and a smaller positive tilt to momentum. Factors are like “personality traits” of investments—quality captures profitability and balance sheet strength, low volatility reflects smoother price movements, value looks at cheaper valuations, momentum tracks recent winners, and yield focuses on income. A strong quality and low‑volatility bias often helps in downturns and can make returns more resilient. The moderate value and yield signals suggest a slight lean toward reasonably priced, income‑generating holdings rather than pure high‑growth names. This overall factor profile is quite defensive for an equity‑heavy portfolio, which is a constructive alignment.
Risk contribution
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Airbus SE
Weight: 38.90% 64.9% -
Vanguard FTSE All-World UCITS ETF USD Accumulation
Weight: 48.94% 30.2% -
iShares Core MSCI Emerging Markets IMI UCITS
Weight: 7.48% 4.6% -
Xtrackers II Eurozone Inflation-Linked Bond UCITS ETF 1C
Weight: 4.68% 0.3%
Risk contribution shows how much each position actually drives the total ups and downs, which can differ a lot from weights. Here, Airbus is 38.9% of the portfolio but contributes about 64.9% of total risk. By contrast, the global ETF is almost half the weight but only about 30% of the risk, and the bond ETF barely moves the needle. That means overall volatility is effectively dominated by a single company outcome. If the goal is to keep a strong Airbus tilt but dial down company‑specific risk, one lever is gradually trimming that position or growing the rest of the portfolio, so risk contributions align more closely with broad weights.
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 risk‑return chart, the current portfolio sits on the efficient frontier, meaning that given these exact holdings, the weights already deliver a solid balance of return for the risk taken. The Sharpe ratio—return per unit of volatility—is 0.42. An “optimal” mix of the same holdings could improve that to 0.66 with lower risk, while a minimum‑variance version would cut risk much more but also reduce expected return sharply. Interestingly, a same‑risk optimized allocation could chase higher return but at a much higher volatility figure. Since you’re already on the frontier, fine‑tuning would be more about aligning with comfort around drawdowns and concentration than fixing inefficiency.
Ongoing product costs
- Xtrackers II Eurozone Inflation-Linked Bond UCITS ETF 1C 0.05%
- iShares Core MSCI Emerging Markets IMI UCITS 0.18%
- Vanguard FTSE All-World UCITS ETF USD Accumulation 0.19%
- Weighted costs total (per year) 0.11%
Costs are impressively low. The blended TER sits around 0.11%, thanks to very cheap ETFs: 0.05% for the inflation‑linked bonds, 0.18% for emerging markets, and 0.19% for the global equity fund. TER, or Total Expense Ratio, is the annual fee charged by a fund; even small differences compound over decades. Being this far down the cost scale is a big structural advantage, leaving more of the portfolio’s returns in the investor’s pocket each year. This aligns closely with best practices used by many institutional investors and is an area where no significant improvement is really needed.
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