Global equity blend with strong value tilt and concentrated exposure to mega cap technology leaders

Report created on May 23, 2026

Risk profile Info

4/7
Balanced
Less risk More risk

Diversification profile Info

3/5
Moderately Diversified
Less diversification More diversification

Positions

This portfolio is a simple four‑ETF mix, fully invested in global equities. Around half sits in a broad “all‑country” world fund, a quarter tracks a major US index, and the remaining quarter is split between global and emerging markets value‑factor funds. That means the core behaves like a global stock portfolio, with a deliberate tilt toward cheaper, value‑oriented companies layered on top. Structurally, this creates a clear, rules‑based equity strategy rather than a collection of unrelated bets. The simplicity is a strength: it’s easy to understand what drives returns and risks. At the same time, being 100% in stocks means the portfolio’s ups and downs are closely tied to equity market cycles, with no bonds or cash acting as a cushion.

Growth Info

Over the period from November 2023 to May 2026, €1,000 in this portfolio grew to about €1,779. That works out to a Compound Annual Growth Rate (CAGR) of 25.2%, where CAGR is the “average speed” of growth per year, smoothing out the bumps. This exceeded both the US and global market benchmarks by 3–4 percentage points per year. The portfolio’s worst peak‑to‑trough drop, or max drawdown, was about –21%, similar to the global market and a bit milder than the US market’s –23%. So historically, it combined strong upside with drawdowns broadly in line with broad equity markets. It’s important to remember this is a short, unusually strong period; such returns are not a reliable guide to the future.

Projection Info

The Monte Carlo simulation looks ahead 15 years by taking the portfolio’s past behaviour and generating many random return paths from it. Think of it as running 1,000 alternate futures based on what has been seen so far. The median scenario turns €1,000 into about €2,741, with most outcomes (the middle 50%) landing between roughly €1,751 and €4,185. There’s a wide possible range, from about breaking even to more than €7,500, reflecting how unpredictable long‑term equity returns can be. The average annualised return across simulations is 8%, and roughly 73% of paths end positive. These projections are not forecasts; they’re “what‑if” distributions built from historical patterns that may not repeat.

Asset classes Info

  • Stocks
    100%

All of the portfolio is invested in stocks, with 0% in bonds, cash, or alternatives. From an asset class perspective, this is a pure equity strategy, which typically offers higher long‑term growth potential than bonds but also larger short‑term swings. Common balanced portfolios often mix in fixed income to smooth volatility and reduce drawdowns; here, diversification comes mainly from owning many different stocks globally rather than from different asset classes. This aligns with the risk score of 4/7: moderate but clearly equity‑driven. In practice, it means the portfolio tends to rise and fall with global stock markets rather than having parts that behave very differently when markets are stressed.

Sectors Info

  • Technology
    34%
  • Financials
    15%
  • Consumer Discretionary
    10%
  • Industrials
    9%
  • Telecommunications
    8%
  • Health Care
    7%
  • Energy
    5%
  • Consumer Staples
    4%
  • Basic Materials
    4%
  • Utilities
    2%
  • Real Estate
    2%

Sector exposure is clearly tilted toward technology, which makes up around a third of the portfolio. Financials, consumer‑related industries, and industrials form the next meaningful blocks, with the remaining sectors each representing smaller slices. Relative to broad global benchmarks, a technology weighting in the mid‑30s is on the higher side, especially when combined with top holdings like NVIDIA, Apple, and Microsoft. This can enhance growth when tech leadership continues, but it may also amplify volatility during periods of rising interest rates or when investors rotate away from growth‑oriented companies. The positive side is that the remaining sectors are reasonably spread out, which helps avoid the portfolio being entirely dependent on a single non‑tech area.

Regions Info

  • North America
    63%
  • Asia Developed
    11%
  • Europe Developed
    10%
  • Asia Emerging
    7%
  • Japan
    4%
  • Latin America
    2%
  • Africa/Middle East
    1%
  • Australasia
    1%
  • Europe Emerging
    1%

Geographically, the portfolio is anchored in North America, which accounts for about 63% of exposure. Developed Asia and Europe together represent roughly one fifth, with the remainder spread across emerging regions such as Asia, Latin America, and Africa/Middle East. Compared with a typical global equity benchmark, this is broadly in line, perhaps with a modest US‑lean given the dedicated S&P 500 allocation. That alignment is helpful: it means the portfolio participates in the dominant global equity market while still having meaningful exposure to other regions and currencies. The emerging markets slice adds diversification and different growth drivers, though it can introduce higher volatility and political or currency risks compared with developed markets.

Market capitalization Info

  • Mega-cap
    49%
  • Large-cap
    35%
  • Mid-cap
    15%
  • Small-cap
    1%

Market‑cap wise, the portfolio leans heavily toward mega‑cap and large‑cap companies, which together make up about 84% of the exposure. Mid‑caps account for 15%, and small‑caps just 1%. This resembles many global indices, which are naturally dominated by the largest companies. Larger firms often have more stable earnings and better access to capital, so they can be less fragile than smaller businesses in economic downturns. On the other hand, the very biggest names can drive a large share of index performance, concentrating risk in a handful of global giants. The modest mid‑cap exposure adds some diversification across company size, but the overall profile remains focused on large, established businesses.

True holdings Info

  • NVIDIA Corporation
    4.40%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    • State Street SPDR S&P 500 UCITS ETF (Acc)
  • Apple Inc
    3.62%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    • State Street SPDR S&P 500 UCITS ETF (Acc)
  • Microsoft Corporation
    2.67%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    • State Street SPDR S&P 500 UCITS ETF (Acc)
  • Taiwan Semiconductor Manufacturing Co. Ltd.
    2.47%
    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
    2.32%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    • State Street SPDR S&P 500 UCITS ETF (Acc)
  • Alphabet Inc Class A
    2.02%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    • State Street SPDR S&P 500 UCITS ETF (Acc)
  • Broadcom Inc
    1.74%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    • State Street SPDR S&P 500 UCITS ETF (Acc)
  • Alphabet Inc Class C
    1.66%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    • State Street SPDR S&P 500 UCITS ETF (Acc)
  • Meta Platforms Inc.
    1.21%
    Part of fund(s):
    • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    • State Street SPDR S&P 500 UCITS ETF (Acc)
  • SK Hynix Inc
    1.07%
    Part of fund(s):
    • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
  • Top 10 total 23.19%

Looking through the ETFs into their top holdings shows a cluster of familiar mega‑cap names: NVIDIA, Apple, Microsoft, TSMC, Amazon, Alphabet, Broadcom, Meta, and SK Hynix. These positions appear across multiple funds, which means the true exposure to these companies is higher than any single ETF’s weight might suggest. For example, NVIDIA alone represents about 4.4% of the overall portfolio, and the other big tech names each add 1–3%. Because only ETF top‑10 holdings are captured, real overlap is likely understated. This hidden concentration is not necessarily negative—these companies have powered recent market gains—but it does mean portfolio performance is strongly influenced by a relatively small group of global leaders.

Risk contribution Info

  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    Weight: 50.00%
    49.5%
  • State Street SPDR S&P 500 UCITS ETF (Acc)
    Weight: 25.00%
    25.9%
  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
    Weight: 15.00%
    15.5%
  • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
    Weight: 10.00%
    9.1%

Risk contribution shows how much each holding adds to the portfolio’s overall ups and downs, which can differ from its simple weight. In this case, the 50% global ETF contributes roughly 49% of total risk, the 25% US ETF contributes about 26%, and the 15% emerging value ETF about 16%. The 10% world value ETF contributes just over 9%. That close match between weight and risk contribution means no single position is punching far above its size in driving volatility. The top three holdings together account for about 91% of portfolio risk, reflecting that they are the bulk of the capital, not that they are unusually volatile. This alignment supports a clear and transparent risk structure.

Redundant positions Info

  • State Street SPDR S&P 500 UCITS ETF (Acc)
    SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    High correlation

The correlation data shows that the S&P 500 ETF and the global ACWI ETF move almost identically. Correlation measures how often assets move together; a value close to 1 means they usually rise and fall in tandem. This makes sense because the US market is a large part of the global index, so adding a separate US ETF mainly increases exposure to similar drivers rather than introducing a distinct return stream. From a diversification angle, this doesn’t reduce equity risk much, but it does slightly sharpen the portfolio’s US tilt. The factor‑tilted ETFs and emerging markets exposure are more likely to bring differentiated behaviour than this tightly correlated US/global pair.

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 analysis compares this portfolio’s risk/return mix to the best combinations achievable using the same four ETFs. The “efficient frontier” is the curve of portfolios that deliver the highest expected return for each level of risk. Here, the current mix has a Sharpe ratio of 1.43, while the optimal mix on the frontier reaches 2.0 with slightly higher risk and return. The minimum‑risk mix still has a higher Sharpe of 1.66. The current portfolio sits about 3.6 percentage points below the frontier at its risk level, meaning it is not using these four funds in the mathematically most efficient way. In principle, different weights—without adding new holdings—could potentially improve risk‑adjusted returns.

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%
  • State Street SPDR S&P 500 UCITS ETF (Acc) 0.03%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF 0.12%
  • Weighted costs total (per year) 0.16%

The portfolio’s weighted ongoing cost, or Total Expense Ratio (TER), is about 0.16% per year. TER is the annual fee charged by the funds for managing and running the ETFs. This level is impressively low for a global, factor‑tilted equity mix and compares favourably with many actively managed strategies and even some index products. Low costs matter because they come off returns every year, and even small differences compound meaningfully over decades. Here, the bulk of capital is in very low‑cost core ETFs (0.03–0.12%), while the more specialised value funds are slightly more expensive but still reasonably priced. Overall, costs are a clear strength and support better net long‑term performance.

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