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Comfortable world tracker with a side quest in smart beta that does absolutely nothing new

Report created on Apr 23, 2026

Risk profile Info

4/7
Balanced
Less risk More risk

Diversification profile Info

4/5
Broadly Diversified
Less diversification More diversification
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Positions

This portfolio is basically 70% one-stop global tracker and 30% “I got bored and discovered factor ETFs.” The core is SPDR MSCI ACWI, which already owns the entire investable world, and then you bolt on extra US, EM value, and Europe momentum like decorative spoilers on a perfectly fine family car. The problem: the add-ons barely change the underlying engine. The S&P 500 slice just re‑buys what ACWI already owns, and the factor funds are too small to give a clear identity. Net result: this looks like a clean, global portfolio that went halfway toward being clever, then wandered off for a nap.

Growth Info

Performance has been on a bit of a heater: about 22.1% CAGR versus ~19–19.5% for US and global markets. Turning €1,000 into €1,637 in under three years is objectively spicy. Of course, that came with a -20.6% max drawdown, so the ride wasn’t exactly tranquil. Still, you got more upside with slightly less pain than the benchmarks, which is annoyingly good for something this lazy-looking structurally. Just remember: this entire backtest sits in a short, tech-fueled, post-2022 rebound window. Past data is like yesterday’s weather — useful, but it doesn’t mean the next storm behaves the same.

Projection Info

The Monte Carlo projection basically says: “Most timelines are fine, but don’t get cocky.” Simulations take the historical risk/return profile, then randomly remix good and bad years 1,000 ways. Median outcome of €2,907 from €1,000 in 15 years sounds pleasant, but the 5–95% range of €1,000–€7,814 screams “anything from flat to ridiculous is on the menu.” The 75% chance of a positive outcome is nice, but that still leaves a solid 1-in-4 shot of real disappointment. Simulations are glorified what‑if games: they’re only as smart as the history they’re fed, and history loves to surprise people.

Asset classes Info

  • Stocks
    100%

Asset class “diversification” here is very easy to summarize: stocks, stocks, and more stocks. A pure 100% equity allocation dressed up with a “balanced” risk label is doing some heavy marketing. There’s zero ballast — no bonds, no cash layer, no real diversifier if markets puke. When everything is in equities, the portfolio lives and dies by the same economic engine. That’s fine if the goal is maximizing long-term growth, but let’s not pretend this is some delicate asset-class symphony. It’s one loud instrument playing all the time, occasionally off-key during bear markets.

Sectors Info

  • Technology
    27%
  • Financials
    18%
  • Industrials
    12%
  • Consumer Discretionary
    9%
  • Health Care
    8%
  • Telecommunications
    8%
  • Energy
    5%
  • Basic Materials
    5%
  • Consumer Staples
    5%
  • Utilities
    3%
  • Real Estate
    2%

Sector-wise, this is yet another tech-flavored “diversified” portfolio: 27% technology, then financials and industrials playing supporting roles. With mega-cap darlings like NVIDIA, Apple, and Microsoft headlining via the ETFs, the portfolio is quietly betting that the current tech royalty keeps its crowns. Sure, there’s something in almost every sector, but the weighting says the future is chips, clouds, and code, with everyone else in the backseat. When tech wins, this sings; when tech stumbles, suddenly “diversified” looks a lot like “we all owned the same thing in slightly different wrappers.”

Regions Info

  • North America
    57%
  • Europe Developed
    20%
  • Asia Developed
    9%
  • Asia Emerging
    6%
  • Japan
    4%
  • Latin America
    2%
  • Africa/Middle East
    1%
  • Australasia
    1%
  • Europe Emerging
    1%

Geographically, this is “global” in the way most “global” portfolios are: 57% North America and then a world tour with pocket change. Europe, Asia (developed and emerging), Japan, and the rest get the leftovers. It’s basically “America first, everyone else if there’s room.” To be fair, that’s roughly how global market caps look, so this isn’t some rogue geo bet — just a very index-like US dependency. If the US keeps being the main growth engine, this is perfect. If leadership rotates elsewhere, the portfolio will be late to notice, because its passport spends most time stamped “USA.”

Market capitalization Info

  • Mega-cap
    50%
  • Large-cap
    35%
  • Mid-cap
    14%

The market cap profile is straight from the big-index playbook: 50% mega-cap, 35% large-cap, 14% mid-cap, and the small-cap world apparently not invited. This is basically a fan club for giant, very well-known companies that already dominate headlines and ETFs. That cuts both ways: mega-caps can be stable-ish and liquid, but they’re also crowd favorites priced for glory. With so little in smaller names, the portfolio avoids some drama but also shies away from areas where the growth story is a bit less “already on every billboard on Earth.” Safe-ish, but definitely not adventurous.

True holdings Info

  • NVIDIA Corporation
    4.06%
    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
    3.57%
    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
    2.52%
    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.
    2.09%
    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
    1.91%
    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
    1.59%
    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
    1.34%
    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
    1.34%
    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.
    1.19%
    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
    1.00%
    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 20.61%

The look-through holdings scream “hidden concentration in the usual suspects.” NVIDIA at 4.06%, Apple at 3.57%, Microsoft at 2.52%, then TSMC, Amazon, Alphabet, Broadcom, Meta, and Tesla all showing up via multiple ETFs. You think you own four funds, but under the hood you’re basically throwing a party for the same dozen mega-caps over and over. And remember, this overlap is only from ETF top-10 lists — the true duplication is higher. It’s not disastrous, just hilariously predictable: you paid for diversification and ended up with nine different excuses to own NVIDIA.

Risk contribution Info

  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    Weight: 70.00%
    69.9%
  • SPDR S&P 500 UCITS ETF USD Acc EUR
    Weight: 10.00%
    10.5%
  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
    Weight: 10.00%
    9.9%
  • iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Acc)
    Weight: 10.00%
    9.7%

Risk contribution here is almost comically proportional: the 70% ACWI core contributes 69.9% of the risk, while each 10% satellite adds roughly 10%. No secret troublemaker, no tiny wild-child position blowing up volatility. It’s boringly linear, which is good for understanding but slightly dull to analyze. Top three holdings driving 90% of the risk is just math when one position is 70% of the pie. This isn’t a portfolio where hidden leverage or a spicy niche ETF is quietly steering the ship; the big, obvious global fund is clearly in charge, and the rest just add light seasoning.

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 note is what everyone suspected: the S&P 500 ETF and the ACWI ETF move almost identically. In plain English, one is basically the other plus a small side salad of non-US stocks. So adding a separate S&P 500 slice is like ordering two mains that share 90% of the ingredients. In a crash, both are going down together, not offsetting each other. Correlation just measures how often things move in the same direction — and here, the answer is “almost always.” From a risk perspective, the S&P position is mostly just ACWI wearing a different logo.

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.

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The efficient frontier chart is politely telling you the portfolio is leaving easy money on the table. At 13.5% risk, it sits about 1.3 percentage points below what could be achieved just by shuffling weights among the *same* four ETFs. The current Sharpe ratio of 1.25 looks lazy next to 1.8 for the optimal mix and 1.47 even for the minimum-variance version. Translation: with these exact ingredients, the recipe you picked isn’t the tastiest or the calmest option. This isn’t about new products — it’s about the current weights being “good enough” when “better with no extra effort” clearly exists.

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%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF 0.45%
  • Weighted costs total (per year) 0.38%

For something this plain, the fees are a bit on the high side of “meh.” A total TER of 0.38% isn’t outrageous, but it’s not exactly bargain-basement for a mostly vanilla, cap-weighted setup plus a couple of factor toys. ACWI at 0.45% is doing most of the damage, with the EM value ETF at 0.40% quietly taking its cut too. Costs are like a slow leak in a tire: not dramatic day-to-day, but over decades they add up. You’re not being robbed, but you’re definitely not flying economy at a discount either — more like paying mid-range prices for a fairly standard seat.

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