Global equity core with a strong momentum tilt and gold as a defensive satellite
Report created on Mar 23, 2026Risk profile
4/7
Diversification profile
5/5
Positions
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WE Amundi Prime All Country World UCITS ETF Acc EUR
WEBN - IE0003XJA0J9 85.00% -
PP iShares Physical Gold ETC EUR
PPFB - IE00B4ND3602 15.00%
The structure is very straightforward: about 85% sits in a single broad global equity ETF, with the remaining 15% in a physical gold ETC. That means most of the growth potential comes from worldwide stocks, while gold plays the role of a diversifier and crisis hedge. Keeping the number of line items this low drastically cuts complexity and makes monitoring and rebalancing simple. The main trade-off is that almost all the risk and return are tied to one global equity sleeve, so the equity choice really matters. In practice, this setup works well for people who like a “set and mostly forget” framework but still want a built‑in shock absorber.
Growth
Over the short period from mid‑2024 to early‑2026, €1,000 grew to about €1,264, giving a compound annual growth rate (CAGR) of 14.31%. CAGR is just the “average speed” per year, smoothing the ride. The portfolio outpaced the global market benchmark (8.81% CAGR) but lagged the US market benchmark (19.72% CAGR). Max drawdown — the worst peak‑to‑trough fall — was -17.78%, deeper than the US market but milder than the global market. Only 11 days made up 90% of returns, underlining how a handful of strong days drove performance. Because this is less than two years of data, none of these figures should be seen as a reliable long‑term pattern.
Projection
The Monte Carlo projection simulates 1,000 possible 10‑year paths based on past daily moves of the portfolio. In plain language, it “re‑rolls the dice” of historical returns to see a range of potential futures. Here the median scenario (50th percentile) shows a huge 2,234% cumulative return and the average simulated annual return is 26.52%, which is extremely high. However, this is based on less than two years of data, which makes the outputs very fragile and likely overly optimistic. Monte Carlo is a useful way to think in ranges, not precise forecasts, and past return patterns can change dramatically as markets evolve.
Asset classes
- Stocks 85%
- Other 15%
Asset‑class exposure is clean: roughly 85% in stocks and 15% in “other,” which here is gold. That lines up nicely with a balanced‑to‑growth posture: most of the engine is in equities, but there is a meaningful ballast that doesn’t rely on company profits or interest payments. Compared with many multi‑asset benchmarks that also hold bonds, this setup leans more toward growth and may be more volatile in equity bear markets. On the positive side, the mix is very easy to understand: global ownership of businesses plus a timeless real asset. Topping up or trimming each bucket periodically can keep the risk profile where you want it.
Sectors
- Technology 23%
- Financials 14%
- Industrials 9%
- Consumer Discretionary 8%
- Telecommunications 8%
- Health Care 7%
- Consumer Staples 4%
- Energy 4%
- Basic Materials 3%
- Utilities 2%
- Real Estate 2%
Sector exposure inside the global ETF is broad, with all major sectors present, but there is a clear tilt. Technology is the largest at 23%, followed by financials, industrials, consumer cyclicals, communication services, and healthcare. A tech‑ and communication‑heavy mix often benefits when innovation, digitalization, and growth stories are in favor, but can be more sensitive to rising interest rates or sentiment shifts toward “safer” areas. The good news is that the allocation still spans all key parts of the economy, including defensives like consumer staples, utilities, and healthcare. That balance helps smooth sector‑specific shocks even when one area, like tech, is driving much of the upside.
Regions
- North America 54%
- Europe Developed 12%
- Asia Developed 5%
- Japan 5%
- Asia Emerging 5%
- Australasia 1%
- Africa/Middle East 1%
- Latin America 1%
Geographically, more than half of the equity exposure comes from North America, with the rest spread across developed Europe, Japan, other developed Asia, emerging Asia, and smaller allocations to Australasia, Latin America, and Africa/Middle East. This is quite similar to common global equity benchmarks, which also have a strong North American tilt because that market is large and valuable. Being aligned with global market weights is usually a positive sign, as it avoids heavy home‑country bias and idiosyncratic regional risks. The flip side is that outcomes are still strongly linked to the fortunes of one major region, so being comfortable with that influence is important.
Market capitalization
- Mega-cap 43%
- Large-cap 30%
- Mid-cap 12%
Most of the equity allocation sits in mega and large (“big”) companies, with some mid‑cap exposure and little to smaller firms. Market capitalization describes company size; mega‑caps are the global giants everyone knows, which tend to be more stable, better financed, and more widely researched. This large‑cap tilt often leads to smoother earnings profiles and easier liquidity, but reduces exposure to the potentially higher growth (and higher risk) of smaller firms. Aligning closely with global cap‑weighted benchmarks is generally considered sensible, as it mirrors how the investable market is structured and avoids over‑emphasizing niche or illiquid segments.
True holdings
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NV NVIDIA Corporation 4.03%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
-
AA Apple Inc 3.50%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
-
MS Microsoft Corporation 2.55%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
-
AM Amazon.com Inc 1.78%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
-
GO Alphabet Inc Class A 1.62%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
-
GO Alphabet Inc Class C 1.40%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
-
AV Broadcom Inc 1.35%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
-
23 Taiwan Semiconductor Manufacturing Co. Ltd. 1.33%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
-
ME Meta Platforms Inc. 1.24%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
-
TS Tesla Inc 1.06%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- LS 1x Tesla Tracker ETP Securities GBP
- Top 10 total 19.87%
Looking through to the top holdings, the biggest underlying exposures are to mega‑cap growth names like NVIDIA, Apple, Microsoft, Amazon, Alphabet, Broadcom, TSMC, Meta, and Tesla. These are all held via the broad global ETF, not directly, which means their influence is diversified within a very wide basket. Still, having over 4% in NVIDIA and meaningful weights in several other similar stocks creates a hidden tilt toward a narrow group of global leaders. Overlap is likely understated because only ETF top‑10 data is used. The key takeaway: even a simple “world” ETF can end up heavily influenced by a small set of dominant companies.
Factors
Factor exposure shows a strong tilt toward momentum and size. Momentum means the portfolio leans into stocks that have been doing well recently; this often helps in persistent uptrends but can hurt sharply when leadership reverses. Size here suggests a preference toward larger firms relative to a neutral baseline. Factor exposure is like checking which “personality traits” dominate your holdings. Because average signal coverage is only about 31%, there is some uncertainty in the exact strength of these tilts. Still, it’s fair to say the portfolio is likely to behave like a large‑cap, momentum‑friendly strategy that shines in strong, trending markets but can feel more painful during sudden rotations.
Risk contribution
-
Amundi Prime All Country World UCITS ETF Acc EUR
Weight: 85.00% 92.6% -
iShares Physical Gold ETC EUR
Weight: 15.00% 7.5%
Risk contribution shows how much each holding adds to overall portfolio ups and downs, which can differ from its plain weight. Here, the global equity ETF is 85% of the capital but contributes about 92.6% of the risk, giving it a risk‑to‑weight ratio above 1. Gold is 15% of capital but only 7.45% of risk, with a ratio of 0.5, so it’s pulling its weight as a diversifier. Think of it like an orchestra: one loud instrument (global equities) dominates the sound, while another (gold) softens it. If the goal is to dial down volatility further, increasing the lower‑risk contributor or adding other lower‑correlated assets could help rebalance the “sound.”
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 risk‑return chart shows the current portfolio with expected return of 13.85%, volatility of 13.52%, and a Sharpe ratio of 0.88. The Sharpe ratio compares extra return to volatility, like pay‑off per unit of stress. The efficient frontier, built only from the two existing holdings, shows that higher Sharpe ratios are possible just by changing weights. The minimum‑variance mix and the highest‑Sharpe mix both sit above the current point, and a same‑risk optimized portfolio would have much higher expected return at a similar or slightly higher risk. That means, in theory, simply reweighting between global equities and gold could improve the tradeoff without adding any new products.
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