High growth portfolio with a strong semiconductor tilt and concentrated exposure to US large companies
Report created on Jun 8, 2026Risk profile
5/7
Diversification profile
2/5
Positions
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SM VanEck Semiconductor UCITS ETF
SMGB - IE00BMC38736 60.00% -
VU Vanguard S&P 500 UCITS ETF USD Accumulation
VUAA - IE00BFMXXD54 40.00%
This portfolio is made of just two equity ETFs: around 60% in a semiconductor-focused fund and 40% in a broad US large-cap index tracker. That means the structure is simple but heavily tilted toward one high-growth industry, with the S&P 500 position acting as a broad-market anchor. Having only two holdings makes the portfolio easy to follow and maintain, but it also means limited diversification because many risks are shared between the funds. Overall, this setup leans clearly toward growth and capital appreciation rather than stability or income, which lines up with its relatively high risk score and low diversification score.
Growth
From late 2020 to mid-2026, £1,000 in this portfolio grew to about £4,230, giving a compound annual growth rate (CAGR) of roughly 29.9%. CAGR is like average speed on a long road trip: it smooths out bumps to show how fast value grew each year. This growth has been much stronger than both the US and global equity markets over the same period. The trade-off is a deeper maximum drawdown of around -30%, meaning at one point the portfolio was almost a third below its peak. That combination—strong gains plus sharper drops—is typical of concentrated growth exposure.
Projection
The Monte Carlo projection uses past returns and volatility to simulate many possible future paths for the portfolio. Think of it as rolling the dice 1,000 times to see a range of 15-year outcomes for a £1,000 investment. The median result lands around £2,659, with a “middle” band from about £1,744 to £4,166. Extreme cases stretch from roughly £955 to £7,340. The average annual return across simulations is about 7.9%. These numbers show both upside potential and meaningful downside risk. It’s important to remember that this method relies on historical patterns, which can change, so results are indicative rather than predictive guarantees.
Asset classes
- Stocks 100%
All of the portfolio is in stocks, with 0% in bonds, cash-like assets, or alternatives. Being 100% in equities usually means larger swings in value, both up and down, compared with a mix that includes more defensive assets. Equities are the main long-term growth engine in most portfolios, but they can be uncomfortable during sharp market drops. Because there are no stabilising asset classes here, short-term moves are driven almost entirely by the equity market’s mood and the specific industries represented. This equity-only structure matches its “growth” classification and helps explain why the portfolio’s volatility sits on the higher side.
Sectors
- Technology 74%
- Financials 5%
- Telecommunications 4%
- Consumer Discretionary 4%
- Health Care 3%
- Industrials 3%
- Consumer Staples 2%
- Energy 1%
- Utilities 1%
- Real Estate 1%
- Basic Materials 1%
Sector-wise, technology dominates at around 74%, far above broad-market benchmarks where tech is typically significant but not this overwhelming. The rest is spread thinly across areas like financials, telecoms, consumer-related businesses, health care, and industrials, each in low single digits. This heavy technology weight mainly comes from the semiconductor ETF. Tech-heavy portfolios often perform strongly during innovation booms or periods of falling interest rates, but they can be hit hard when rates rise or when enthusiasm about future growth cools. The small allocations to other sectors provide only limited cushioning against a tech-specific downturn.
Regions
- North America 87%
- Europe Developed 6%
- Asia Developed 6%
Geographically, about 87% of the portfolio ties back to North America, with smaller slices in developed Europe and developed Asia. Compared with a global equity benchmark, this is a clear US tilt, since the US typically makes up around 60% of global market value rather than nearly 90%. A strong US focus has worked very well in recent years, particularly for technology and growth companies, and this portfolio is aligned with that trend. The flip side is less exposure to other economies and currencies. If US markets or the dollar underperform for a stretch, that home-region concentration can become more noticeable.
Market capitalization
- Large-cap 46%
- Mega-cap 42%
- Mid-cap 12%
By market capitalisation, this portfolio is dominated by mega-cap and large-cap companies, with only a modest slice in mid-caps. Mega-caps are the very largest firms in the market, often household names with global footprints. They tend to have more stable business models and better access to financing, which can reduce company-specific risk compared with smaller firms. At the same time, being so focused on the giants means less participation in potential high-growth small companies. The mix here broadly mirrors mainstream equity benchmarks, which are also heavily weighted to large and mega caps, so size exposure is fairly mainstream even if sectors are not.
True holdings
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NV NVIDIA Corporation 8.64%
Part of fund(s):- VanEck Semiconductor UCITS ETF
- Vanguard S&P 500 UCITS ETF USD Accumulation
-
AV Broadcom Inc 7.05%
Part of fund(s):- VanEck Semiconductor UCITS ETF
- Vanguard S&P 500 UCITS ETF USD Accumulation
-
AS ASML Holding NV ADR 5.80%
Part of fund(s):- VanEck Semiconductor UCITS ETF
-
TS Taiwan Semiconductor Manufacturing 5.72%
Part of fund(s):- VanEck Semiconductor UCITS ETF
-
MU Micron Technology Inc 5.43%
Part of fund(s):- VanEck Semiconductor UCITS ETF
-
AM Advanced Micro Devices Inc 4.89%
Part of fund(s):- VanEck Semiconductor UCITS ETF
-
LR Lam Research Corp 3.99%
Part of fund(s):- VanEck Semiconductor UCITS ETF
-
AM Applied Materials Inc 3.95%
Part of fund(s):- VanEck Semiconductor UCITS ETF
-
IN Intel Corporation 3.76%
Part of fund(s):- VanEck Semiconductor UCITS ETF
-
AA Apple Inc 2.59%
Part of fund(s):- Vanguard S&P 500 UCITS ETF USD Accumulation
- Top 10 total 51.83%
Looking through the ETFs, the top underlying exposures include big semiconductor names like NVIDIA, Broadcom, ASML, TSMC, Micron, and AMD, plus large tech-related firms such as Apple. Many of these appear within the semiconductor ETF and can also show up inside the S&P 500 ETF, creating overlap. Overlap matters because it can quietly increase concentration: if the same company appears in more than one fund, its effective portfolio impact is larger than any single line item suggests. Here, a relatively small group of companies drives a meaningful share of the portfolio’s behaviour, which aligns with the sector and geography tilts already visible.
Risk contribution
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VanEck Semiconductor UCITS ETF
Weight: 60.00% 76.9% -
Vanguard S&P 500 UCITS ETF USD Accumulation
Weight: 40.00% 23.1%
Risk contribution looks at how much each holding drives the portfolio’s ups and downs, which can be very different from its weight. Here, the semiconductor ETF is 60% of the portfolio but contributes about 77% of total risk. Its risk/weight score above 1 shows it’s more volatile than the portfolio average. The S&P 500 ETF, at 40% weight, contributes only about 23% of the risk, with a risk/weight below 1, acting as a stabiliser. In practice, this means semiconductor movements dominate daily fluctuations, while the broad index softens some of the swings without fully offsetting them.
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 vs. return chart shows the current portfolio, the minimum variance mix, and the highest Sharpe ratio portfolio built from these same ETFs. The Sharpe ratio measures risk-adjusted return—how much extra return you get per unit of volatility. Here, the current Sharpe of about 1.03 is slightly below the optimal 1.15 but above the minimum variance option at 0.9. Importantly, the current portfolio sits on or very close to the efficient frontier, meaning that for its chosen risk level it uses these two holdings effectively. Any major change in risk/return trade-off would mainly come from different asset choices, not simple reweighting.
Ongoing product costs
- VanEck Semiconductor UCITS ETF 0.35%
- Vanguard S&P 500 UCITS ETF USD Accumulation 0.07%
- Weighted costs total (per year) 0.24%
The portfolio’s total ongoing cost (TER) is about 0.24% per year, blending a 0.35% fee for the semiconductor ETF and 0.07% for the S&P 500 ETF. TER is like a small yearly membership fee taken inside the funds to cover management and running costs. These levels are competitive for a specialised thematic ETF plus a broad index tracker. Over long periods, even fractions of a percent in fees can compound into meaningful differences, so keeping total costs under a quarter of a percent is a helpful support for long-term performance. Overall, the cost structure here is impressively low relative to the growth focus.
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