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Diversified on paper but mostly just three global funds wearing slightly different hats

Report created on Apr 4, 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

Structurally this is the most “I skimmed one Bogleheads thread” portfolio imaginable: three chunky global-ish ETFs, 40/40/20, all equity, all the time. It looks diversified until you realize it’s basically the same world salad served three ways, with Europe getting an extra ladle for no clear reason. Nothing here is obviously reckless, but there’s also zero nuance: no tilt by design, just overlapping broad funds layered on top of each other. Think of it as buying three all-you-can-eat buffets on the same street. Takeaway: the structure isn’t awful, but you’re almost certainly paying for complexity that adds less than it pretends to.

Growth Info

Performance-wise, the portfolio has done that annoying thing where it looks pretty smart in hindsight. CAGR of 10.73% from €1,000 to €1,233 beats both the US market and global market by a hair, with slightly smaller drawdowns than either. Not bad for something that looks like it was assembled in 10 minutes. But let’s not pretend two years of data is a personality trait. CAGR is just the smoothed annual growth rate; over a short window, it’s more ego boost than insight. Takeaway: enjoy the win, but treat it like a lucky streak at the casino, not proof of genius.

Projection Info

The Monte Carlo projection is basically a polite way of saying, “Things will probably be okay, but don’t get cocky.” It runs 1,000 random market paths and spits out a wide range: your €1,000 most likely drifts to €2,830 over 15 years, but could just as easily end near €1,058 or as high as €7,550. That’s like being told you’ll “probably” arrive between lunchtime and midnight. Simulations use past-like behavior, which is useful but not magic; markets don’t read spreadsheets. Takeaway: expect decent odds of long-term growth, but emotionally prepare for the grim lower end too.

Asset classes Info

  • Stocks
    100%

Asset allocation is easy here: 100% stocks, 0% chill. For a “balanced” risk label, this thing has the emotional range of an all-equity roller coaster. No bonds, no cash buffer, nothing defensive — just pure growth exposure pretending to be moderate because it’s sliced into three ETFs. In real life, that means when markets wobble, this portfolio doesn’t have a seatbelt; it just tries to ride it out. There’s nothing inherently wrong with being all equity, but calling it “balanced” is like calling hot sauce a beverage. Takeaway: either own the risk, or rethink what “balanced” means.

Sectors Info

  • Financials
    21%
  • Industrials
    17%
  • Technology
    15%
  • Health Care
    10%
  • Consumer Discretionary
    8%
  • Consumer Staples
    6%
  • Basic Materials
    6%
  • Telecommunications
    5%
  • Energy
    5%
  • Utilities
    3%
  • Real Estate
    2%

Sector mix looks almost index-like, but with a slight “grown-up” tilt: financials and industrials lead, tech is chunky but not dominant, health care and consumer areas round it out. So instead of pure tech addiction, this is more like a functional generalist who still checks their banking app too often. The downside: when the economy slows or rates behave weirdly, financials and industrials can both sulk at the same time. Takeaway: this is broadly reasonable, but don’t kid yourself — it’s still very tied to the global economic cycle, not some magical all-weather mix.

Regions Info

  • Europe Developed
    48%
  • North America
    31%
  • Japan
    11%
  • Asia Developed
    4%
  • Australasia
    3%
  • Asia Emerging
    2%
  • Africa/Middle East
    1%

Geographically, this thing screams “European investor who can’t quite quit home bias but knows the US matters.” About 48% in developed Europe, 31% in North America, with Japan and other developed regions sprinkled on top. The good news: you’re not locked in one country fantasy-land. The bad news: you’re still leaning hard toward Europe, which historically hasn’t exactly been the return powerhouse of the world. Takeaway: it’s a respectable global spread, but the tilt suggests comfort over optimization — like always sitting on the same side of the bus, no matter the view.

Market capitalization Info

  • Mega-cap
    49%
  • Large-cap
    34%
  • Mid-cap
    13%
  • Small-cap
    2%

Market cap exposure is very “index standard corporate”: 49% mega-cap, 34% large-cap, plus a token 15% or so in mid and small caps pretending they matter. So yes, you technically own smaller companies, but the big boys completely run the show. When mega-caps sneeze, your portfolio catches pneumonia. This setup is stable-ish, but it also means your fate is tied heavily to a few gigantic firms and the general mood of global large caps. Takeaway: nothing outrageous here, just be aware you’re mostly betting on the giants and only flirting with the little guys.

True holdings Info

  • ASML Holding N.V.
    1.61%
    Part of fund(s):
    • Amundi Stoxx Europe 600 UCITS ETF C
    • Xtrackers MSCI World ex USA UCITS ETF 1C USD EUR
  • NVIDIA Corporation
    1.57%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
  • Apple Inc
    1.42%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
  • Microsoft Corporation
    1.00%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
  • Rogers Corporation
    0.96%
    Part of fund(s):
    • Amundi Stoxx Europe 600 UCITS ETF C
    • Xtrackers MSCI World ex USA UCITS ETF 1C USD EUR
  • AstraZeneca PLC
    0.92%
    Part of fund(s):
    • Amundi Stoxx Europe 600 UCITS ETF C
    • Xtrackers MSCI World ex USA UCITS ETF 1C USD EUR
  • Novartis AG
    0.92%
    Part of fund(s):
    • Amundi Stoxx Europe 600 UCITS ETF C
    • Xtrackers MSCI World ex USA UCITS ETF 1C USD EUR
  • HSBC Holdings PLC
    0.92%
    Part of fund(s):
    • Amundi Stoxx Europe 600 UCITS ETF C
    • Xtrackers MSCI World ex USA UCITS ETF 1C USD EUR
  • Nestle S.A.
    0.80%
    Part of fund(s):
    • Amundi Stoxx Europe 600 UCITS ETF C
    • Xtrackers MSCI World ex USA UCITS ETF 1C USD EUR
  • Amazon.com Inc
    0.73%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
  • Top 10 total 10.85%

The look-through holdings reveal the usual celebrity cast: NVIDIA, Apple, Microsoft, Amazon, ASML, Nestlé, the standard mega-cap Avengers. Overlap is already obvious even though only ETF top-10s are captured, which means the true duplication is definitely higher under the hood. You’re not as diversified across businesses as the fund names suggest; you’re just owning the same global giants via multiple wrappers. This is the classic “three outfits, same closet” problem. Takeaway: broad ETFs are fine, but stacking overlapping ones doesn’t give three times the diversification — just three times the illusion of control.

Risk contribution Info

  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF
    Weight: 40.00%
    41.6%
  • Xtrackers MSCI World ex USA UCITS ETF 1C USD EUR
    Weight: 40.00%
    39.3%
  • Amundi Stoxx Europe 600 UCITS ETF C
    Weight: 20.00%
    19.1%

Risk contribution is the one area where this portfolio is almost boringly proportional. Each ETF’s risk share matches its weight pretty closely: 40% weight giving ~40% risk, 20% weight taking ~19% risk. No secret drama queen position hogging all the volatility. That said, when three holdings contribute 100% of total risk, it’s a reminder that “diversified” here really just means “three big buckets that move together.” Takeaway: nothing is catastrophically overpowered, but if one fund structurally underperforms or glitches, a huge chunk of your outcome goes with it.

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 basically behaving itself. Sharpe ratio of 0.55 versus 0.8 for the optimal mix and 0.78 for minimum variance tells the story: you’re close enough that the math nerds can’t really dunk on you. The frontier is just the curve of best possible returns for each risk level using your existing ingredients, and you’re almost on it. In other words, you didn’t completely butcher the proportions. Takeaway: the risk/return tradeoff is already reasonably efficient; any improvement would be marginal tweaks, not a full rewrite. Try not to let that go to your head.

Ongoing product costs Info

  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI IMI UCITS ETF 0.40%
  • Amundi Stoxx Europe 600 UCITS ETF C 0.07%
  • Weighted costs total (per year) 0.17%

Costs are actually one of the most respectable parts here, which is mildly annoying from a roasting angle. A blended TER of 0.17% is decent, even with that 0.40% ACWI IMI fund dragging its heels a bit. You’ve clearly avoided the worst fee traps, but still ended up paying more than absolutely necessary for broad beta. It’s like taking a fairly-priced Uber instead of the bus — not outrageous, but not the cheapest path either. Takeaway: fees are under control, but if you simplified the lineup, you could probably shave a little more without losing exposure.

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