Global tracker cosplay with two ETFs pretending to be different things but actually twins
Report created on Mar 23, 2026Risk profile
4/7
Diversification profile
4/5
Positions
-
FW Invesco FTSE All-World UCITS ETF USD Accumalation EUR
FWIA - IE000716YHJ7 80.00% -
WE Amundi Prime All Country World UCITS ETF Acc EUR
WEBN - IE0003XJA0J9 20.00%
This “portfolio” is basically one world ETF and its slightly cheaper stunt double, split 80/20 like you were trying to look diversified without actually changing anything. It’s the IKEA starter pack of investing: two items, one idea. On the plus side, it’s clean, simple, and very hard to mess up. On the minus side, all the knobs you could turn—regions, styles, risk levers—are basically welded in place. The whole thing screams, “I read one Boglehead post and stopped there.” Functional, yes. Inspired, not exactly. Takeaway: it does the job, but don’t kid yourself that this is some master-crafted allocation.
Growth
Performance-wise, this thing is aggressively… fine. Since mid‑2024, your €1,000 became €1,166, a 9.91% CAGR. CAGR (Compound Annual Growth Rate) is just your average yearly speed over this short road trip. You basically matched the global market (€1,165, 9.10% CAGR) and noticeably lagged the US market (€1,179, 19.93% CAGR), which has been on a heater. Max drawdown of about ‑21% means it dropped just as hard as global stocks, so there’s no downside magic here—just plain vanilla equity pain. Past data is yesterday’s weather: useful but not prophetic. Takeaway: you’re riding the world index roller coaster, nothing more, nothing less.
Projection
The Monte Carlo projection basically throws your past return and volatility into a blender and simulates 1,000 possible 10‑year futures. It’s financial fan fiction: useful, but still a story. Median outcome (50th percentile) is about +260% over 10 years, with a low‑end 5th percentile at +45.6%, and 991/1,000 runs end positive. Annualized across simulations: ~10.5%. That sounds great until you notice the warning: less than two years of history. That’s like trying to predict your entire life from your last three weekends. Takeaway: expect a bumpy ride with decent odds of solid growth, but don’t treat these numbers as destiny.
Asset classes
- Stocks 100%
Asset classes: 100% stocks, 0% anything else. For a “Balanced” risk profile, this is more “all‑in on red” than “balanced.” No bonds, no cash buffer, no diversifiers—just pure equity beta, as if downturns are someone else’s problem. That’s fine if the time horizon is long and nerves are cold‑blooded, but it clashes hard with the word “Balanced” on the label. It’s like slapping “light” on a can of full‑sugar soda. Takeaway: this is a full‑fat equity portfolio in costume; anyone needing smoother ride or shorter horizon should not trust the marketing tag.
Sectors
- Technology 27%
- Financials 17%
- Industrials 11%
- Consumer Discretionary 9%
- Telecommunications 9%
- Health Care 9%
- Consumer Staples 5%
- Energy 5%
- Basic Materials 4%
- Utilities 3%
- Real Estate 2%
Sector mix says “index hugger with a tech crush.” About 27% in tech, then financials (17%), industrials (11%), plus cyclicals and comms close behind. It’s basically what you’d get if you just shrugged and bought “the market,” which you did. Heavy tech and growth‑tilted names mean you’re very exposed to the “innovation is always good” story; if that narrative cracks, you feel it. At least there’s some ballast in healthcare, defensives, and utilities, but they’re clearly the side characters. Takeaway: this is a market‑cap‑weighted world, so sector bets are passive, not intentional—but the risk is real even if accidental.
Regions
- North America 64%
- Europe Developed 14%
- Asia Developed 6%
- Japan 6%
- Asia Emerging 5%
- Australasia 2%
- Africa/Middle East 1%
- Latin America 1%
Geographically, this thing screams “America or global enough, I guess.” About 64% in North America, with Europe and Japan as supporting actors and everyone else getting scraps. That’s not unusual—global indexes are US‑heavy by design—but it does mean your fortunes are chained to US corporate health, regulation, and dollar sentiment whether you meant to or not. Emerging regions barely register; if they boom, you participate with training wheels on. Takeaway: this is global in name, but the US is absolutely the main character and the rest of the world is background scenery.
Market capitalization
- Mega-cap 51%
- Large-cap 33%
- Mid-cap 15%
Market cap exposure is mega‑cap worship on autopilot: 51% mega, 33% big, only 15% medium. Small caps are basically not invited to the party. You’re riding the giants, the polished PR machines, not the scrappy underdogs. That often means smoother news flow but also less exposure to early‑stage growth and more dependence on a small crowd of behemoths staying on top. When large caps stall or derate, there’s not much oomph from below to pick up the slack. Takeaway: this is a “blue‑chip celebrity fund,” great when the stars behave, vulnerable when they all discover gravity together.
True holdings
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NV NVIDIA Corporation 4.31%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- Invesco FTSE All-World UCITS ETF USD Accumalation EUR
-
AA Apple Inc 3.95%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- Invesco FTSE All-World UCITS ETF USD Accumalation EUR
-
MS Microsoft Corporation 2.97%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- Invesco FTSE All-World UCITS ETF USD Accumalation EUR
-
AM Amazon.com Inc 2.06%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- Invesco FTSE All-World UCITS ETF USD Accumalation EUR
-
GO Alphabet Inc Class A 1.86%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- Invesco FTSE All-World UCITS ETF USD Accumalation EUR
-
23 Taiwan Semiconductor Manufacturing Co. Ltd. 1.58%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- Invesco FTSE All-World UCITS ETF USD Accumalation EUR
-
GO Alphabet Inc Class C 1.52%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- Invesco FTSE All-World UCITS ETF USD Accumalation EUR
-
AV Broadcom Inc 1.52%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- Invesco FTSE All-World UCITS ETF USD Accumalation EUR
-
ME Meta Platforms Inc. 1.44%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- Invesco FTSE All-World UCITS ETF USD Accumalation EUR
-
TS Tesla Inc 1.17%
Part of fund(s):- Amundi Prime All Country World UCITS ETF Acc EUR
- Invesco FTSE All-World UCITS ETF USD Accumalation EUR
- LS 1x Tesla Tracker ETP Securities GBP
- Top 10 total 22.38%
The look‑through is a greatest-hits playlist of mega‑cap darlings: NVIDIA, Apple, Microsoft, Amazon, Alphabet (twice for extra worship), TSMC, Broadcom, Meta, Tesla. Congratulations, you’ve rebuilt every generic global index by accident. Overlap is clearly high, even though the analysis only sees ETF top‑10s, so the true doubling‑up is probably worse. Hidden concentration means you think you own “the whole world” but a small gang of giants is driving a big chunk of your fate. It’s like buying a buffet and eating only fries and dessert. Takeaway: it’s diversified on paper, but your emotional life is chained to a few superstar names.
Factors
Factor exposure is a bit of a personality test. Size tilt at 20% leans modestly toward smaller names versus a pure mega‑cap lineup, but nothing wild. Momentum at 53% is the big one—you’re heavily loaded into what’s been working recently. Factor exposure is like checking the secret ingredients list; here it reads: “own what’s hot.” That works—until trends reverse and momentum flips from tailwind to slap in the face. Coverage is partial, so other factors (value, quality, low vol, yield) aren’t clearly expressed, which likely means you’re not purposefully managing them. Takeaway: this portfolio rides trends without much built‑in protection when the music stops.
Risk contribution
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Invesco FTSE All-World UCITS ETF USD Accumalation EUR
Weight: 80.00% 80.5% -
Amundi Prime All Country World UCITS ETF Acc EUR
Weight: 20.00% 19.5%
Risk contribution is basically asking, “Who’s actually rocking this boat?” Here, the answer is: exactly the two ETFs you own, in almost perfect proportion—80% weight, 80.5% risk for Invesco; 20% weight, 19.5% risk for Amundi. No surprises, but also no nuance. Risk contribution reveals who hogs the volatility spotlight, and in this case, there are only two divas. That makes things easy to understand but also painfully binary: if global equities get smacked, 100% of your portfolio volunteers as tribute. Takeaway: trimming risk means reducing global equity exposure, period—there’s nowhere else in the lineup to tweak.
Redundant positions
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High correlationAmundi Prime All Country World UCITS ETF Acc EURInvesco FTSE All-World UCITS ETF USD Accumalation EUR
Correlation here is basically 1.0 between the two ETFs. They move together like synchronized swimmers chained at the ankle. Correlation just measures how often holdings dance in the same direction; when it’s this high, “diversification” is mostly cosmetic. In normal times, that’s fine—you intentionally bought world trackers. In a crash, though, everything here sinks in unison, and no position steps up as a shock absorber. Takeaway: you’ve built a single bet using two wrappers; if you ever want actual diversification, you need stuff that does not just copy‑paste the same chart.
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, you’re actually on the efficient frontier, which is mildly annoying because it ruins the roast. The Efficient Frontier shows the best return you can squeeze out for each risk level using your existing ingredients. Your Sharpe ratio (return per unit of risk) is 0.53, while the best possible with these two ETFs is around 0.6. That gap is tiny. Reweighting to the “optimal” or same‑risk mix nudges return from ~9.9% to ~10.0‑10.1%, which is pocket change. Takeaway: within this extremely narrow world‑ETF universe, your setup is already efficient; real improvement would require actually adding different types of assets.
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