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Cautious in theory crypto tech and Slovenia tourist in practice

Report created on Jun 1, 2026

Risk profile Info

3/7
Cautious
Less risk More risk

Diversification profile Info

5/5
Highly Diversified
Less diversification More diversification

Positions

This portfolio looks like it was built by a committee that never met. One chunk is textbook “cautious” euro government bonds sliced into three nearly identical maturities plus inflation-linked bonds. Another chunk is factor-nerd USA smart beta. Then a detour into pure tech, a tiny country ETF, some emerging markets, a single stock hero, plus two cryptos for chaos. It’s less a strategy and more a museum of interesting ideas. The label says low-ish risk, but the ingredients say “I like safety with a side of roulette.” The result is a portfolio that’s busy, clever in parts, but strategically kind of directionless.

Growth Info

Historically, this thing did well… just not as well as the boring benchmarks. Turning €1,000 into €1,444 is a 17.81% CAGR, which is very strong in isolation. Then the US and global markets stroll in at ~22% and make it look like the kid who got an A– in a class where everyone else got A+. Max drawdown of about –13% is much kinder than the benchmarks’ –21% to –23%, so at least the pain was milder. But remember: this is a very short period in a very weird market. Past data is like yesterday’s weather — useful, but it doesn’t sign contracts.

Projection Info

The Monte Carlo projection basically says, “Yeah, this portfolio could work… or kind of just plod along.” Monte Carlo is just a fancy dice-rolling machine that simulates thousands of alternate futures using historic volatility and returns. Median outcome of €2,428 after 15 years on €1,000 is decent, but that’s only a 6.41% annualized return across simulations — a far cry from the recent 17–22% party. The wide range (€1,201 to €4,760) screams “you hold bonds, crypto, and tech, so literally anything can happen.” It’s a reminder that the backtest high doesn’t survive when you ask the math to be brutally honest.

Asset classes Info

  • Stocks
    49%
  • Bonds
    25%
  • No data
    14%
  • Other
    6%
  • Crypto
    6%

Asset class mix: roughly half stocks, a quarter bonds, and the rest scattered across crypto, “other,” and mystery “no data.” For something labeled cautious, 6% in crypto is the financial equivalent of having an airbag and then driving with a beer in the cupholder. The bond slice is reasonably sized, but it’s very narrowly focused on euro government stuff, so it’s more interest-rate bet than broad ballast. The equity chunk then has to carry growth, risk, and drama. Overall it’s a halfway house: not bold enough to be a growth engine, not boring enough to be a true safety-first setup.

Sectors Info

  • Technology
    16%
  • Financials
    6%
  • Industrials
    6%
  • Crypto
    6%
  • No data
    6%
  • Health Care
    3%
  • Consumer Discretionary
    3%
  • Telecommunications
    3%
  • Consumer Staples
    2%
  • Basic Materials
    1%
  • Energy
    1%
  • Utilities
    1%
  • Real Estate
    1%

This breakdown covers the equity portion of your portfolio only.

Sector-wise, this portfolio clearly has a tech crush at 16%, then sprinkles in thin slices of everything else. The result is a market salad where nothing outside tech has real presence. Financials, industrials, consumer stuff, utilities — all show up just enough to be on the invite list, not enough to matter in a crisis. Crypto even gets its own “sector” badge, which is honest: it’s more casino than asset class. The message: when things are going well, tech plus crypto will hog the spotlight; when things go wrong, the tiny slivers of “defensive” sectors won’t be large enough to actually defend anything.

Regions Info

  • North America
    27%
  • Europe Developed
    14%
  • Japan
    3%
  • Asia Developed
    3%
  • Asia Emerging
    2%

This breakdown covers the equity portion of your portfolio only.

Geographically, this portfolio is basically a North America fan club with a European passport. Around 27% in North America and 14% in developed Europe, then a token 3% in Japan and a few crumbs in developed and emerging Asia. For a European investor, the euro government bonds do add home bias on the fixed income side, but the equity book is clearly leaning hard into the US growth machine. The tiny emerging and Asian positions feel more like checkbox diversification than conviction. If global markets hit a patch where non-US regions lead, this setup is the kid who half-tried the homework and wonders why the grade is average.

Market capitalization Info

  • Large-cap
    22%
  • Mega-cap
    20%
  • Mid-cap
    7%
  • Small-cap
    1%

This breakdown covers the equity portion of your portfolio only.

Market cap tilt is firmly in the “I only trust the big kids” camp: about 42% combined in mega- and large-cap, with mid-caps barely noticeable and small-caps an afterthought at 1%. That means the portfolio is heavily exposed to whatever happens to the world’s biggest companies and almost ignores the more volatile, potentially higher-growth smaller ones. It’s like building a football team entirely out of famous veterans and then tossing in one rookie for optics. Stable, yes, but very dependent on a small group of giants continuing to behave like they have the last decade. That’s a concentration of assumptions, if not of positions.

True holdings Info

  • Novo Nordisk A/S Class B
    5.63%
  • NVIDIA Corporation
    2.04%
    Part of fund(s):
    • iShares Edge MSCI USA Momentum Factor UCITS ETF USD (Acc)
    • iShares Edge MSCI USA Quality Factor UCITS ETF USD (Acc)
    • iShares S&P 500 USD Information Technology Sector UCITS
  • Apple Inc
    1.39%
    Part of fund(s):
    • iShares Edge MSCI USA Quality Factor UCITS ETF USD (Acc)
    • iShares S&P 500 USD Information Technology Sector UCITS
  • Microsoft Corporation
    1.16%
    Part of fund(s):
    • iShares Edge MSCI USA Quality Factor UCITS ETF USD (Acc)
    • iShares S&P 500 USD Information Technology Sector UCITS
  • Micron Technology Inc
    0.97%
    Part of fund(s):
    • iShares Edge MSCI USA Momentum Factor UCITS ETF USD (Acc)
    • iShares Russell 1000 Value UCITS ETF USD Acc USD
    • iShares S&P 500 USD Information Technology Sector UCITS
  • Broadcom Inc
    0.88%
    Part of fund(s):
    • iShares Edge MSCI USA Momentum Factor UCITS ETF USD (Acc)
    • iShares S&P 500 USD Information Technology Sector UCITS
  • Taiwan Semiconductor Manufacturing Co. Ltd.
    0.79%
    Part of fund(s):
    • Xtrackers MSCI Emerging Markets UCITS ETF 1C
  • Lam Research Corp
    0.54%
    Part of fund(s):
    • iShares Edge MSCI USA Momentum Factor UCITS ETF USD (Acc)
    • iShares Edge MSCI USA Quality Factor UCITS ETF USD (Acc)
    • iShares S&P 500 USD Information Technology Sector UCITS
  • Alphabet Inc Class A
    0.54%
    Part of fund(s):
    • iShares Edge MSCI USA Momentum Factor UCITS ETF USD (Acc)
    • iShares Edge MSCI USA Quality Factor UCITS ETF USD (Acc)
    • iShares Russell 1000 Value UCITS ETF USD Acc USD
  • Advanced Micro Devices Inc
    0.52%
    Part of fund(s):
    • iShares Edge MSCI USA Momentum Factor UCITS ETF USD (Acc)
    • iShares S&P 500 USD Information Technology Sector UCITS
  • Top 10 total 14.47%

This breakdown covers the equity portion of your portfolio only.

The look-through data is incomplete, but what we do see is telling. Novo Nordisk sits at 5.63% all by itself, free of any ETF overlap — a solo superstar. Then the usual US mega-cap suspects (NVIDIA, Apple, Microsoft, Alphabet, etc.) sneak in via ETFs, stacking exposure without screaming it in the headline weights. Overlap is likely worse than reported since we only see ETF top 10s. So while the portfolio looks diversified on the surface, underneath it quietly revolves around a small set of global mega-names plus one Nordic pharma hero. It’s a bit like “global” music that’s actually just the same chart-toppers on every playlist.

Risk contribution Info

  • Novo Nordisk A/S Class B
    Weight: 5.63%
    14.6%
  • iShares Edge MSCI USA Momentum Factor UCITS ETF USD (Acc)
    Weight: 7.04%
    12.2%
  • Ethereum
    Weight: 2.82%
    10.9%
  • iShares S&P 500 USD Information Technology Sector UCITS
    Weight: 5.63%
    10.1%
  • iShares Edge MSCI USA Quality Factor UCITS ETF USD (Acc)
    Weight: 7.04%
    8.2%
  • Top 5 risk contribution 55.9%

Risk contribution exposes the real troublemakers. Novo Nordisk is only 5.63% of the portfolio but drives 14.56% of the risk — more than double its weight. Ethereum at 2.82% casually delivers nearly 11% of total risk, a wild 3.88x risk/weight ratio. Then you’ve got the US momentum ETF and the S&P tech fund together punching above their weight. Top three positions alone cause over a third of all portfolio volatility. In other words, the calm “cautious” label is propped on a few drama queens: if they sneeze, the whole portfolio catches a cold, regardless of how many euro bonds are quietly minding their business.

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 basically calling this portfolio out. With a Sharpe ratio of 1.23 and a return of 16.09% at 9.8% risk, it’s sitting a hefty 12.77 percentage points below what could be achieved using the exact same ingredients, just rearranged. The max-Sharpe version clocks in at 33.9% return for slightly higher risk and a Sharpe of 2.83 — that’s not a rounding error, that’s a different life. The minimum-variance version has the same Sharpe as the current portfolio, which is a polite way of saying: you’re taking more risk than you need for the payoff you’re getting, purely because the weights are inefficient.

Ongoing product costs Info

  • iShares Edge MSCIope Quality Factor UCITS 0.25%
  • iShares Physical Gold ETC EUR 0.12%
  • iShares Edge MSCI USA Quality Factor UCITS ETF USD (Acc) 0.20%
  • iShares S&P 500 USD Information Technology Sector UCITS 0.15%
  • Expat Slovenia SBI Top UCITS ETF 1.00%
  • Vanguard FTSE Japan UCITS ETF USD Accumulation 0.10%
  • Xtrackers MSCI Emerging Markets UCITS ETF 1C 0.18%
  • iShares Edge MSCI USA Momentum Factor UCITS ETF USD (Acc) 0.20%
  • Amundi Index Solutions - Amundi MSCI Europe Momentum Factor UCITS ETF-C 0.23%
  • Amundi Euro Government Bond 1-3Y UCITS ETF Acc EUR 0.16%
  • Amundi Euro Government Bond 3-5Y UCITS ETF Acc EUR 0.16%
  • Xtrackers - MSCI Europe Value UCITS ETF 0.15%
  • iShares Public Limited Company - iShares Euro Inflation Linked Govt Bond UCITS ETF 0.09%
  • Weighted costs total (per year) 0.17%

Costs are the surprisingly grown-up part. A portfolio-wide TER of about 0.17% is solid — you clearly avoided most of the shiny, overpriced nonsense. The only real outlier is the Slovenia ETF at 1.00%, which is basically boutique pricing for a very specific, very small market slice. Everything else sits in that pleasantly boring low-fee zone. Still, paying ten times more for one quirky regional bet is like flying business class for one 45-minute hop while taking budget airlines everywhere else. It won’t kill the portfolio, but it does raise an eyebrow about how carefully each piece was chosen.

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