High growth focused equity portfolio with strong momentum tilt and efficient risk allocation
Report created on Mar 23, 2026Risk profile
4/7
Diversification profile
3/5
Positions
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VW Vanguard FTSE All-World UCITS ETF USD Accumulation
VWCE - IE00BK5BQT80 60.00% -
SE iShares MSCI Global Semiconductors UCITS ETF USD Acc
SEC0 - IE000I8KRLL9 15.00% -
5J iShares Global Aerospace & Defence UCITS ETF USD (Acc)
5J50 - IE000U9ODG19 15.00% -
IU iShares MSCI World Small Cap UCITS ETF USD (Acc) EUR
IUSN - IE00BF4RFH31 10.00%
This portfolio is a pure equity mix built from four broad and thematic ETFs, with 60% in a global all‑world core, 15% in semiconductors, 15% in aerospace and defence, and 10% in global small caps. Everything is accumulation, so dividends are automatically reinvested. Structurally, this is a concentrated growth‑tilted equity setup rather than a classic multi‑asset “balanced” mix with bonds. That matters because, while it can compound strongly in good markets, it will also fully participate in equity downturns. The key takeaway is that the portfolio blends a diversified global core with punchy thematic satellites, creating a higher‑octane growth profile than a plain global index alone.
Growth
Over the measured period, €1,000 grew to €1,357, a compound annual growth rate (CAGR) of 34.21%. CAGR is the “average speed” of growth per year, smoothing out ups and downs. This outpaced both the US market (19.93%) and global market (22.10%), showing strong recent relative performance. Max drawdown, the worst peak‑to‑trough fall, was a mild ‑6.06%, only slightly deeper than the benchmarks. That mix of high return with limited drawdown is very attractive, but it’s based on less than a year of data. The main takeaway: recent results are excellent, yet too short to assume this performance is sustainable.
Projection
The Monte Carlo projection uses the portfolio’s recent return and volatility to simulate 1,000 possible 10‑year paths for a €1,000 investment. Think of it as running many “what if” futures, each drawing from the historical pattern of ups and downs. The median scenario ends near a huge gain, and even the pessimistic 5th percentile is extremely high, with all simulations finishing positive. However, this is driven by very strong short‑term history (232 data points) and likely overstates realistic long‑term returns. Monte Carlo is a useful stress‑testing tool, but here the limitation is critical: the input period is too short to treat these eye‑catching numbers as a reliable guide.
Asset classes
- Stocks 100%
Asset‑class allocation is straightforward: 100% stocks, 0% bonds, cash, or alternatives. That makes the portfolio simple and transparent, but it also means no built‑in cushion from traditionally safer assets during market stress. Many broad “balanced” reference portfolios blend equities with bonds to smooth volatility and limit drawdowns. Here, all risk and return come from equities alone. The positive side is higher long‑term growth potential, especially with reinvested earnings. The trade‑off is sharper swings and deeper temporary losses in bear markets. Anyone using this setup should be comfortable riding through full equity cycles without needing to sell at bad times.
Sectors
- Technology 32%
- Industrials 24%
- Financials 12%
- Consumer Discretionary 7%
- Health Care 6%
- Telecommunications 6%
- Consumer Staples 4%
- Basic Materials 3%
- Energy 3%
- Real Estate 2%
- Utilities 2%
Sector exposure is led by technology at 32% and industrials at 24%, with the rest spread across financials, consumer cyclicals, healthcare, communication services, defensive sectors, materials, energy, real estate, and utilities. That’s a wide sector spread, but the explicit semiconductor and aerospace funds drive a notable concentration in cyclical, growth‑oriented industries that can be sensitive to economic and rate cycles. Tech‑heavy and defence‑linked portfolios often shine in innovation booms and high spending periods but can be volatile when sentiment reverses or regulation headlines hit. The upside: strong participation in structural tech and defence trends; the downside: higher sensitivity to sector‑specific shocks.
Regions
- North America 63%
- Europe Developed 17%
- Asia Developed 7%
- Japan 6%
- Asia Emerging 4%
- Australasia 1%
- Africa/Middle East 1%
- Latin America 1%
Geographically, about 63% is in North America, with Europe developed at 17%, Japan 6%, other developed Asia 7%, and small slices in emerging regions and other areas. That US‑heavy tilt is quite similar to many global equity benchmarks, which is a positive sign of alignment with common global standards. It means a big share of exposure is to large, globally dominant companies. However, the relatively modest weighting to emerging markets and some regions means less diversification from differing economic cycles and currencies. The main implication: performance will be strongly linked to North American markets, especially the US, for better or worse.
Market capitalization
- Mega-cap 40%
- Large-cap 34%
- Mid-cap 18%
- Small-cap 6%
- Micro-cap 1%
Market‑cap exposure is dominated by mega (40%) and big (34%) companies, with 18% in mid caps, 6% in small, and a tiny slice in micro. This mix leans toward large, established firms but still includes a meaningful allocation to smaller businesses via the small‑cap ETF. Large caps tend to be more stable, with deeper liquidity and stronger balance sheets, while small caps can offer higher growth but more volatility. This blend is quite sensible: it anchors the portfolio in global blue‑chips while adding some extra growth potential. The takeaway: size diversification is decent, with a clear but not extreme bias toward giants.
True holdings
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NV NVIDIA Corporation 3.58%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
- iShares MSCI Global Semiconductors UCITS ETF USD Acc
-
AA Apple Inc 2.35%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
-
23 Taiwan Semiconductor Manufacturing Co. Ltd. 2.07%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
- iShares MSCI Global Semiconductors UCITS ETF USD Acc
-
AV Broadcom Inc 1.96%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
- iShares MSCI Global Semiconductors UCITS ETF USD Acc
-
MS Microsoft Corporation 1.78%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
-
AM Amazon.com Inc 1.23%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
-
GE GE Aerospace 1.14%
Part of fund(s):- iShares Global Aerospace & Defence UCITS ETF USD (Acc)
-
MU Micron Technology Inc 1.13%
Part of fund(s):- iShares MSCI Global Semiconductors UCITS ETF USD Acc
-
AS ASML Holding N.V. 1.13%
Part of fund(s):- iShares MSCI Global Semiconductors UCITS ETF USD Acc
-
GO Alphabet Inc Class A 1.11%
Part of fund(s):- Vanguard FTSE All-World UCITS ETF USD Accumulation
- Top 10 total 17.48%
Looking through the ETFs, the biggest underlying exposures are NVIDIA, Apple, TSMC, Broadcom, Microsoft, Amazon, GE Aerospace, Micron, ASML, and Alphabet. Several of these appear in more than one ETF, especially the global all‑world and semiconductor fund, creating hidden concentration in a handful of mega‑cap growth names. Because only ETF top‑10 holdings are used, true overlap is likely higher. This is not necessarily a problem, but it means portfolio behaviour is quite tied to a small group of large, tech‑linked companies. The takeaway: headline diversification masks a real tilt toward a narrow set of global leaders, especially in chips and big tech.
Factors
Factor exposure shows strong momentum and some size tilt. Momentum (61.3%) means the holdings have recently been strong performers; momentum strategies typically do well in trending markets but can suffer when leadership abruptly rotates. Size exposure here reflects an overweight to smaller companies versus a purely large‑cap market, adding potential long‑term return but also more volatility. Factor investing targets characteristics like value, quality, or low volatility that research links to returns. In this case, the portfolio behaves like a growthy, momentum‑driven equity mix rather than a defensive or income‑oriented one. That’s great in bull runs but may feel rough during sharp style reversals.
Risk contribution
-
Vanguard FTSE All-World UCITS ETF USD Accumulation
Weight: 60.00% 48.6% -
iShares MSCI Global Semiconductors UCITS ETF USD Acc
Weight: 15.00% 28.7% -
iShares Global Aerospace & Defence UCITS ETF USD (Acc)
Weight: 15.00% 13.8% -
iShares MSCI World Small Cap UCITS ETF USD (Acc) EUR
Weight: 10.00% 8.9%
Risk contribution shows how much each ETF adds to overall portfolio volatility, which can differ from simple weights. The all‑world ETF is 60% of the portfolio but only 48.62% of risk, so it’s relatively stabilising. The semiconductor ETF is 15% by weight yet contributes 28.73% of total risk, almost double its share, indicating it’s the main risk amplifier. Aerospace and small caps contribute risk roughly in line with their weights. With the top three holdings driving over 91% of risk, small tweaks to the semiconductor slice especially could meaningfully change overall behaviour. Rebalancing can align risk contributions more closely with intended conviction.
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 four ETFs, there’s no simple way to get a better return without taking more risk. That’s a strong sign of internal efficiency. However, it’s not at the point of highest Sharpe ratio, which measures return per unit of risk. The optimal portfolio on this frontier has higher expected return and higher risk, while a minimum‑variance mix has lower risk and lower return. There’s also a same‑risk optimized portfolio with far higher expected return but much more volatility. Within these holdings, you’re already efficient; further changes would be about choosing a different risk level.
Ongoing product costs
- iShares MSCI World Small Cap UCITS ETF USD (Acc) EUR 0.35%
- iShares MSCI Global Semiconductors UCITS ETF USD Acc 0.35%
- Vanguard FTSE All-World UCITS ETF USD Accumulation 0.19%
- Weighted costs total (per year) 0.20%
Total ongoing costs (TER) average around 0.20%, with the all‑world fund at 0.19% and the thematic and small‑cap ETFs at 0.35%. TER is the annual fee charged by the fund, quietly deducted from returns, like a small “membership fee” for being invested. At 0.20%, this portfolio is impressively low‑cost, especially considering the specialised exposures to semiconductors and aerospace. Low fees are a big plus: they’re one of the few things an investor can control, and the savings compound year after year. From a cost perspective, this setup is very efficient and strongly supports long‑term performance.
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