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Closet global indexer with a random value factor side quest bolted on top

Report created on May 6, 2026

Risk profile Info

4/7
Balanced
Less risk More risk

Diversification profile Info

4/5
Broadly Diversified
Less diversification More diversification

Positions

This portfolio looks like someone bought “the whole world” and then got bored and stacked extra toppings on half of it. Half the money just sits in a plain global index, and then you bolt on more US and more value tilts like a second and third coat of the same paint. Structurally it’s basically: one big core, three satellites that all fish in almost the same pond. That’s not automatically terrible, it’s just a bit redundant. The end result is less “clever multi‑engine design” and more “copy‑paste with a style tweak,” which means complexity and overlap without a clearly distinct overall personality.

Growth Info

Over this short test drive, the portfolio has absolutely flown: €1,000 becomes €1,683, a 23.11% CAGR, beating both US and global benchmarks by a few percentage points. CAGR (compound annual growth rate) is basically the “average speed” of your money on a wild road trip, and here the speedometer looks great. Max drawdown of about -20.5% was painful but actually slightly gentler than the benchmarks, then recovered in a few months. Of course, 2.5 years of history is more like a movie teaser than the full film; recent winners and style tilts can easily flip roles when the market mood changes.

Projection Info

The Monte Carlo projection basically asks, “What happens if markets roll 1,000 different dice?” and then plots the range. Median outcome around €2,790 over 15 years from €1,000 with an average simulated return of 8.07% is solid but not heroic. The “possible” envelope is wide: roughly €900 to €7,450, which is code for “this could feel brilliant or deeply annoying depending on when the roulette wheel stops.” Like yesterday’s weather, these simulations are built on past patterns and assumptions, so they’re useful for vibes, not prophecy. The portfolio looks generally fine for long‑term compounding, but nowhere near bulletproof.

Asset classes Info

  • Stocks
    100%

Asset‑class “diversification” here is basically one word: stocks. A full 100% in equities means this isn’t a balanced mix; it’s an all‑in bet on global companies, dressed up with factor seasoning. No bonds, no cash sleeve, no other assets to act as shock absorbers when markets decide to throw a tantrum. The good news: in fair weather, this gives you full participation in equity upside. The obvious trade‑off: when the market goes down the stairs, this portfolio walks every step with it, because nothing here is designed to zig while equities zag.

Sectors Info

  • Technology
    31%
  • Financials
    16%
  • Industrials
    10%
  • Consumer Discretionary
    9%
  • Health Care
    8%
  • Telecommunications
    8%
  • Energy
    5%
  • Consumer Staples
    5%
  • Basic Materials
    4%
  • Utilities
    3%
  • Real Estate
    2%

Sector exposure is a bit like a tech‑flavored smoothie with other ingredients sprinkled in so it doesn’t look too obvious. Technology sitting at 31% is a noticeable tilt; this is not a neutral “own everything evenly” setup. Financials, industrials, and consumer sectors are present, but they’re basically supporting actors to a big tech‑centric cast. That’s amusing given you’ve also piled in value factor funds, which historically weren’t exactly tech‑obsessed. When growthy tech and “cheap” value try to coexist, you often end up with a portfolio that doesn’t clearly lean one way or the other, just kind of straddling both narratives.

Regions Info

  • North America
    58%
  • Europe Developed
    13%
  • Asia Developed
    10%
  • Asia Emerging
    7%
  • Japan
    6%
  • Latin America
    2%
  • Africa/Middle East
    1%
  • Australasia
    1%
  • Europe Emerging
    1%

Geographically, this is the classic “global” portfolio that quietly means “mostly North America.” About 58% in North America dwarfs the rest, with Europe and Asia collectively playing side characters. There is at least a visible spread across developed and emerging regions, so this isn’t a one‑country obsession, but it’s still very US‑centric in practice. That’s not strange given how big that market is, but it does mean global headlines often equal portfolio headlines. When one region dominates this much, any real regional diversification benefit is more cosmetic than structural; the smaller slices don’t move the needle much day to day.

Market capitalization Info

  • Mega-cap
    44%
  • Large-cap
    40%
  • Mid-cap
    15%

Market cap mix is aggressively mainstream: roughly 44% mega‑cap and 40% large‑cap, with only 15% mid‑cap sniffing around the edges. This is the classic “I love the top of the leaderboard” approach. It captures the giants that dominate indexes, but it doesn’t really give smaller companies much microphone time. The result is a portfolio that behaves a lot like a standard big‑cap global index, just with some style tilts thrown in. When mega‑caps lead, this looks brilliant; when leadership rotates to the mid‑cap crowd, the portfolio is more spectator than participant. It’s safe in a herd‑like way, not especially original.

True holdings Info

  • NVIDIA Corporation
    3.49%
    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
    3.07%
    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.
    2.30%
    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
  • Microsoft Corporation
    2.18%
    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
  • Amazon.com Inc
    1.65%
    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
    1.37%
    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
    1.16%
    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
    1.15%
    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
  • Micron Technology Inc
    1.09%
    Part of fund(s):
    • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
  • Meta Platforms Inc.
    1.03%
    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
  • Top 10 total 18.49%

The look‑through shows the usual suspects: NVIDIA, Apple, TSMC, Microsoft, Amazon, Alphabet, Meta — basically the “who’s who” of modern index dominance. Even with only top‑10 ETF data, you can already see repeated appearances, meaning these names are quietly stacked across multiple funds. Overlap being understated here just means real concentration is probably higher than it looks. This isn’t a bespoke collection; it’s more like buying the same headliners via three different festival tickets. When these mega‑caps rally, returns look genius; when they collectively sneeze, the whole portfolio catches the cold because the same giants sit behind several curtains.

Risk contribution Info

  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    Weight: 50.00%
    50.2%
  • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
    Weight: 20.00%
    18.6%
  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
    Weight: 15.00%
    15.6%
  • SPDR S&P 500 UCITS ETF USD Acc EUR
    Weight: 15.00%
    15.6%

Risk contribution is where the illusion of diversification goes to die. The ACWI ETF is 50% weight and 50% of the risk — exactly what you’d expect from the boss. The two 15% positions (EM value and S&P 500) each contribute roughly 15.6% of risk, punching slightly above their weight, while the 20% developed value slice is a bit calmer at around 18.6%. Top three positions driving over 84% of portfolio risk means the rest is more decoration than real ballast. The portfolio looks diversified on paper, but in terms of actual ups and downs, a handful of big ETFs are running the show.

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 story is basically: your S&P 500 ETF and your global ACWI ETF are almost dancing in sync. Highly correlated holdings move together, which defeats the point of adding them for “diversification.” If one stumbles, the other politely trips at the same time. Having both is like owning two copies of nearly the same movie with slightly different subtitles. On good days, this amplifies participation in the same trend; on bad days, it condenses the pain into the same time window. Diversification works best when parts behave differently; here, some parts just echo each other with slightly different accents.

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, this portfolio is sitting below its own efficient frontier, which is the line of best possible trade‑offs using just the existing ingredients. Sharpe ratio of 1.33 versus 1.83 for the “optimal” mix is a polite way of saying, “You left performance and stability on the table with these weights.” The min‑variance option even beats the current setup’s Sharpe while taking slightly less risk. Being 2.39 percentage points below the frontier at this risk level is like running with ankle weights for no reason — same exhaustion, less distance. The holdings are fine; the proportions aren’t pulling their full weight.

Ongoing product costs Info

  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD 0.40%
  • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR 0.30%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF 0.45%
  • Weighted costs total (per year) 0.34%

Costs are pleasantly boring. A blended TER of 0.34% is not rock‑bottom, but it’s firmly in the “you didn’t get ripped off” zone. The priciest piece is the ACWI ETF at 0.45%, which is mildly ironic given how plain‑vanilla its job is. Still, the overall fee drag is reasonable for a portfolio with factor exposure and global reach. Think of it as economy class with maybe a free coffee, not budget airline misery or first‑class indulgence. If performance ever lags, it won’t be because fees quietly ate the entire pie — they’re nibbling at the crust, not the filling.

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