Roast mode 🔥

Factor cocktail portfolio that thinks it is diversified while secretly hugging the same global index

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 looks like someone tried to be clever with factors but then panic-bought a global index on top. Forty percent in an ACWI ETF plus another 15% pure S&P 500 is basically “index… and more index.” Then three factor funds carve up what’s left, like decorative toppings on a very plain pizza. Structurally, it’s a five‑fund pile where the biggest holding just drags everything back toward boring global beta. The mix screams “I want to outsmart the market” while simultaneously wrapping itself in the market’s warm blanket. Net result: visually diverse, conceptually muddled, and not nearly as original as it pretends.

Growth Info

Historically this Franken-index has crushed it: €1,000 turning into €1,691, with a 23.72% CAGR, is obnoxiously good. It’s beaten both US and global benchmarks by about 4.7% a year while suffering a slightly *smaller* max drawdown. That combo—more return, slightly less pain—is the financial equivalent of getting dessert and somehow losing weight. But this is over a very short, very tech-fueled period. CAGR is just the smoothed average speed on a stretch of road that happened to be downhill with a tailwind. Treating this run as “normal” would be an excellent way to set yourself up for disappointment.

Projection Info

The Monte Carlo projection basically says, “Yeah, this could work out… or not.” Monte Carlo is just a nerdy way of rolling market dice 1,000 times to see how a portfolio might behave. Median outcome of €2,819 from €1,000 over 15 years (about 8.36% annual) is far less flashy than the recent 23% party. The possible range—€1,038 to €8,144—quietly admits the future could be anything from “barely above cash” to “victory lap.” Past data is yesterday’s weather: informative, not prophetic. The simulation is just reminding that the current turbocharged track record is the exception, not the base case.

Asset classes Info

  • Stocks
    100%

Asset class “diversification” here is easy to summarize: stocks, stocks, and more stocks. A clean 100% equity allocation is fine if that’s the intent, but calling this “balanced” is generous. This thing has all the chill of a caffeine overdose—no bonds, no diversifiers, just full exposure to equity mood swings. Asset classes are the big knobs that change how violently a portfolio moves when markets throw tantrums. With only one knob, every scenario—recession, inflation spike, policy shock—hits via the same channel. This isn’t a mix; it’s an all‑in equity bet wearing a risk score of 4/7 as a comforting label.

Sectors Info

  • Technology
    27%
  • Financials
    19%
  • Industrials
    12%
  • Consumer Discretionary
    8%
  • Health Care
    8%
  • Telecommunications
    7%
  • Basic Materials
    5%
  • Energy
    5%
  • Consumer Staples
    4%
  • Utilities
    3%
  • Real Estate
    2%

Sector-wise, this is “tech-heavy index with a suit on.” Technology at 27% is a clear lead, with financials and industrials playing backup. The top look-through names—NVIDIA, Apple, Microsoft, Amazon, Alphabet, Meta—basically scream “big tech growth story,” which is amusing for a portfolio that pretends to care about value factors. Sector weights roughly mimic a broad global index, so it isn’t cartoonishly concentrated, but it’s still leaning hard on one engine: tech and tech-adjacent giants. When that engine misfires, there isn’t some magically opposite sector here ready to save the day; everything just coughs in slightly different accents.

Regions Info

  • North America
    49%
  • Europe Developed
    25%
  • Asia Developed
    10%
  • Asia Emerging
    7%
  • Japan
    5%
  • Latin America
    2%
  • Africa/Middle East
    1%
  • Australasia
    1%
  • Europe Emerging
    1%

Geographically, this portfolio is pretty textbook global, but still quietly America-obsessed: about 49% in North America and only 25% in developed Europe despite the “Europe” in some ETF names. There’s a token spread into Asia developed and emerging, plus tiny slices of everywhere else—just enough to say “international,” not enough to matter in a serious crisis. It’s basically the global market with a US steering wheel. That’s not inherently bad, just unoriginal. If a big US wobble hits, most of this thing wobbles in sympathy, and those small allocations elsewhere are more decoration than meaningful counterweight.

Market capitalization Info

  • Mega-cap
    47%
  • Large-cap
    39%
  • Mid-cap
    14%

The market cap breakdown is classic “index groupie”: 47% mega-cap, 39% large-cap, 14% mid-cap, and small caps basically missing in action. This is a portfolio that clearly believes only the corporate giants deserve a seat at the table. Again, that’s very on‑brand for global and S&P trackers, but it makes all the “factor” stuff feel a bit theatrical. In practice, this stack is dominated by mega-caps that already drive the benchmarks. So when these giants sneeze, your whole portfolio catches a cold, while smaller companies—often the interesting source of diversification—barely exist in the room.

True holdings Info

  • NVIDIA Corporation
    3.02%
    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
    2.65%
    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
  • Taiwan Semiconductor Manufacturing Co. Ltd.
    2.15%
    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
    1.89%
    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
    1.43%
    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
    1.19%
    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
  • Broadcom Inc
    1.01%
    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
    0.99%
    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.
    0.89%
    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
    0.82%
    Part of fund(s):
    • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
  • Top 10 total 16.04%

Look-through holdings reveal the punchline: this isn’t five funds, it’s one giant bet on the usual mega-cap suspects, just sliced five ways. NVIDIA, Apple, TSMC, Microsoft, Amazon, Alphabet, Meta—different tickers, same celebrities appearing in multiple ETFs. And that’s with only top‑10 holdings visible; the real overlap is almost certainly worse. Overlap means what looks like “five diversified funds” is more like the same playlist on repeat with slightly shuffled order. Hidden concentration is the sneaky part: risk piles up in the same names while the portfolio masquerades as broadly diversified because the fund list looks long enough.

Risk contribution Info

  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    Weight: 40.00%
    39.8%
  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
    Weight: 15.00%
    15.7%
  • SPDR S&P 500 UCITS ETF USD Acc EUR
    Weight: 15.00%
    15.3%
  • iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Acc)
    Weight: 15.00%
    15.3%
  • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
    Weight: 15.00%
    13.9%

Risk contribution shows who’s actually driving the drama, and the answer is: almost exactly whoever has the most weight. ACWI at 40% contributes 39.8% of risk, the EM value fund slightly overpunches, and the world value fund slightly underpunches. Top three positions add up to about 71% of total risk, which is high but not shocking for this structure. What’s funny is how boringly proportional it all is—no sleeper villain, no tiny holding causing chaos. If anything, the risk model is politely confirming that this portfolio is basically “size equals influence,” nothing more exotic than that.

Redundant positions Info

  • SPDR S&P 500 UCITS ETF USD Acc EUR
    SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    High correlation

The correlated assets section quietly outs the redundancy: the S&P 500 ETF and the ACWI ETF move “almost identically.” That means 55% of this portfolio is essentially making the same macro bet two slightly different ways. Correlation just means things tend to move together; in a real downturn, “almost identical” isn’t your friend. So while five tickers may look like variety, under the hood you’ve really got one big global-equity blob with minor cosmetic tweaks. When that blob goes down, it doesn’t matter which wrapper it’s in—the graph will happily draw you one big synchronized dive.

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 efficient frontier chart is brutally honest: this portfolio is leaving performance on the table even with the *same* ingredients. At the current risk level, it’s 1.74 percentage points below the frontier, with a Sharpe ratio of 1.36 versus 1.81 for the optimal mix. The Sharpe ratio is just “return per unit of stress,” and this setup is getting less bang for each jitter. Even the minimum variance version, which takes *less* risk, has a better Sharpe. Translation: the weights are slightly lazy. The holdings list isn’t the problem; the way they’re arranged is like putting furniture in the middle of every doorway.

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%
  • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR 0.30%
  • 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) 0.20%

Costs are actually the one area where this portfolio doesn’t try to self-sabotage. A total TER of 0.20% is pretty reasonable, especially given there are several smart-beta/factor funds in the mix. The S&P 500 ETF at 0.03% is doing charity work here, offsetting the pricier EM and factor exposures. Still, paying extra for fancy factor labels while then diluting them with big, cheap index cores is a bit like buying gourmet sauce for instant noodles. Fees aren’t killing this portfolio, but some of the “clever” parts aren’t exactly earning their higher price tags either.

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