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Global index fan who accidentally wandered into smart beta land and never quite left

Report created on Apr 22, 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

This portfolio is basically a one-fund global index with three loud sidekicks bolted on. Sixty percent in a world ETF already gives broad exposure, then another 15% gets thrown at the US and 25% at factor products like someone wanted “spice” without reading the recipe. The result is a structure that looks diversified on the surface but is mostly one big global core with some redundant satellites. It’s like buying a full meal and then ordering extra sides of the exact same thing. The overall impression: sensible backbone, with the add-ons making everything more complicated than it needs to be for surprisingly little incremental distinctiveness.

Growth Info

Historically, this thing has been on a heater: €1,000 becoming €1,662 in about 2.5 years is no joke. A 22.85% CAGR comfortably beating both US and global markets makes the portfolio look like a genius in hindsight. Max drawdown at -20.52% was painful but not outrageous compared with the benchmarks, and recovery was relatively quick. Just remember CAGR is the “average speed” of the ride, not how it actually felt on the way. Past data is yesterday’s weather: nice to brag about at parties, but completely uninterested in guaranteeing a rerun when the next storm rolls in.

Projection Info

The Monte Carlo results are the financial equivalent of “it’ll probably be fine, but don’t get cocky.” Simulations throw your current risk/return mix into thousands of alternate futures, then see how often you walk away happy. A median outcome of €2,841 from €1,000 over 15 years with a 75.5% chance of a positive result is decent, but the spread is huge: ending anywhere between “barely broke even” and “almost 8x” is a wide roll of the dice. The lesson: the portfolio’s path is uncertain, and the simulation is more vibe check than crystal ball.

Asset classes Info

  • Stocks
    100%

Asset allocation here is delightfully boring: 100% stocks, zero bonds, zero anything else. That’s not “balanced,” that’s just “equity-only with good branding.” Calling this balanced because there are different kinds of equities is like calling a diet diverse because it uses three kinds of cheese. Pure stock portfolios ride the full emotional rollercoaster of markets: big upside potential, equally big mood swings when volatility shows up. If the portfolio ever wants actual shock absorbers, they’re not coming from the current asset mix. Right now it’s all accelerator, no brake pedal in sight.

Sectors Info

  • Technology
    27%
  • Financials
    18%
  • Industrials
    11%
  • Consumer Discretionary
    9%
  • Health Care
    8%
  • Telecommunications
    7%
  • Energy
    5%
  • Basic Materials
    5%
  • Consumer Staples
    4%
  • Utilities
    3%
  • Real Estate
    2%

Sector-wise, this portfolio is quietly tech-tilted without going full “AI casino.” Tech at 27% tops the list, with financials and industrials following, and everything else playing supporting roles. It’s a classic modern equity profile: pretending to be neutral while still depending heavily on a handful of high-growth, high-expectation areas to pull the cart. Sector weights look broad enough to claim diversification but still concentrated enough that when the market narrative shifts away from tech darlings and risk-on stories, this mix is going to feel it more than something genuinely sector-agnostic.

Regions Info

  • North America
    55%
  • Europe Developed
    19%
  • Asia Developed
    11%
  • Asia Emerging
    8%
  • Japan
    3%
  • Latin America
    2%
  • Africa/Middle East
    1%
  • Australasia
    1%
  • Europe Emerging
    1%

Geographically, it’s “world portfolio” in name, “US plus guests” in spirit. With 55% in North America, the rest of the planet shows up mostly as supporting cast. Europe and Asia do get some love, and there’s at least a token allocation to emerging regions so it doesn’t look completely home-biased. But the centre of gravity is firmly one place. The portfolio ends up heavily tied to the fate of one major market’s economy, politics, and currency mood swings, while pretending to be globally independent. It’s global enough for marketing slides, not global enough to be truly agnostic.

Market capitalization Info

  • Mega-cap
    51%
  • Large-cap
    35%
  • Mid-cap
    14%

The market cap breakdown screams “index hugger”: 51% mega-cap, 35% large-cap, 14% mid-cap, with smaller companies basically locked outside the party. That means this portfolio is riding on giant, mature firms where the main game is expectations and sentiment, not explosive growth from obscurity. It’s the corporate equivalent of trusting only the biggest brands at the supermarket. That can reduce some extremes, but it also means the returns are strongly driven by whatever a few dozen mega firms are doing. When the giants sneeze, this portfolio catches a cold almost instantly.

True holdings Info

  • NVIDIA Corporation
    3.96%
    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
    3.48%
    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
    2.47%
    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
  • Taiwan Semiconductor Manufacturing Co. Ltd.
    2.45%
    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
    1.87%
    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
    1.55%
    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
    1.32%
    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
    1.30%
    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
  • Meta Platforms Inc.
    1.17%
    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
    0.98%
    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 20.56%

The look-through holdings confirm the usual suspects are running the show: NVIDIA, Apple, Microsoft, TSMC, Amazon, Alphabet, Meta, Tesla — the whole usual mega-cap celebrity lineup. They pop up repeatedly inside the ETFs, so exposure sneaks higher than it first appears. Overlap is likely deeper than reported because only top-10 holdings are visible, but even that limited view shows classic hidden concentration. This isn’t four independent strategies; it’s several funds all bowing to the same megacap tech royalty. So when those names wobble, the entire portfolio suddenly remembers it’s not as diversified as the ticker list suggests.

Risk contribution Info

  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    Weight: 60.00%
    59.5%
  • SPDR S&P 500 UCITS ETF USD Acc EUR
    Weight: 15.00%
    15.5%
  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
    Weight: 15.00%
    15.3%
  • iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Acc)
    Weight: 10.00%
    9.7%

Risk contribution is where the illusion of variety disappears. The top three positions contribute over 90% of total risk, almost exactly mirroring their weights. That’s textbook “concentration with extra steps.” The giant global ETF is basically the whole show, and the two 15% slices are just there to nudge the dial slightly. Risk/weight ratios hovering around 1 mean nothing is wildly misbehaving, but they also reveal that complexity is adding very little beyond what the main fund already delivers. The portfolio looks like a committee but practically acts like a single dominant holding plus background noise.

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 section politely points out that the S&P 500 ETF and the global ACWI ETF move almost identically — which is obvious once you remember how much of global equity value sits in that one market. Holding both is not diversification; it’s echoing the same exposure and pretending it’s new. High correlation means when one drops, the other usually tags along. In a crash, these aren’t going to hedge each other; they’re just going to fall in slightly different fonts. The portfolio gets redundancy, not real diversification, out of this pairing.

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 vs. return chart, this portfolio is basically paying a laziness tax. With a Sharpe ratio of 1.29, it sits below what could be achieved just by reweighting the existing funds. The max-Sharpe portfolio has meaningfully higher return for a bit more risk, while even the minimum variance version manages a better Sharpe with almost the same volatility. The efficient frontier is just the menu of best possible trade-offs; this portfolio picked something off-menu that’s strictly worse than the options already available. Same ingredients, less efficient outcome — not a disaster, just wasteful.

Ongoing product costs Info

  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD 0.40%
  • iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Acc) 0.25%
  • SPDR S&P 500 UCITS ETF USD Acc EUR 0.03%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF 0.12%
  • Weighted costs total (per year) 0.16%

Costs are one of the more respectable parts of this build: a total TER of 0.16% is firmly in the “you actually checked the fee column” camp. The core holdings are cheap, and even the factor ETFs, while pricier, don’t drag the average into silly territory. It’s not rock-bottom ultra-frugal, but definitely far from wallet abuse. Paying a little more for the smart beta spice makes sense only if those tilts actually deliver distinct behavior over time; otherwise it’s just a slightly fancier cover charge for what is, functionally, still an index-heavy party.

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