Riding US tech momentum while pretending ACWI makes this anything other than America plus America lite
Report created on Aug 11, 2026Risk profile
4/7
Diversification profile
3/5
Positions
-
SP State Street SPDR S&P 500 UCITS ETF (Acc)
SPYL - IE000XZSV718 40.00% -
QD iShares Edge MSCI USA Value Factor UCITS
QDVI - IE00BD1F4M44 30.00% -
SP SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
SPYY - IE00B44Z5B48 30.00%
This portfolio is basically three flavors of the same ice cream: US “the market,” US “cheap-ish stocks,” and global “actually still mostly US.” On paper it looks diversified, but under the hood it’s one big bet on the same economy through slightly different wrappers. The structure screams comfort-food investing: broad ETFs, no fringe experiments, but also not much imagination. When three funds give you almost the same exposure, you’re not diversifying; you’re collecting tickers. The result is a portfolio that looks balanced in a brochure while quietly stacking risk in one direction. It’s neat, simple, and a little bit lazy.
Growth
Historically, this mix has absolutely flown: €1,000 becoming €1,866 in under three years is turbo mode, not “balanced.” A 25.1% CAGR versus ~21–22% for US and global markets is strong, but let’s not pretend genius here — it’s just riding a hot style and geography. The -22.5% max drawdown reminds that this thing can still punch you in the face when markets wobble. Also, 90% of returns coming from just 26 days means missing a handful of good days would have wrecked that pretty chart. Past data is like bragging about last season’s win; entertaining, not predictive.
Projection
The Monte Carlo projection does the party trick of simulating 1,000 alternate futures to see where €1,000 might land in 15 years. Median outcome at €2,638 and an average annual return of ~8% sounds reasonable, but the spread is the real story: anything from basically flat (€962) to “I swear this is real” (€7,438). That wide range is the math version of “nobody knows.” The 73.7% chance of a positive outcome is fine, but it still leaves a decent whack of scenarios where this ride is bumpy or disappointing. Simulations are educated guesses, not promises.
Asset classes
- Stocks 100%
Asset classes: 100% stocks, 0% everything else. This is not “balanced”; this is “hope stocks always work.” Calling it balanced because there are three equity funds is like calling a diet varied because you eat fries, chips, and hash browns. All-in equities means full exposure to market swings with no built-in shock absorbers like bonds or cash. That can pay off when markets are kind, as recent returns show, but it also means the portfolio’s emotional rollercoaster has no brakes. It’s a pure growth engine with precisely zero ballast pretending to be mid-risk.
Sectors
- Technology 37%
- Financials 13%
- Consumer Discretionary 9%
- Telecommunications 9%
- Industrials 9%
- Health Care 8%
- Consumer Staples 5%
- Energy 3%
- Utilities 2%
- Basic Materials 2%
- Real Estate 2%
Sector-wise, this thing has a tech hangover: 37% in technology plus another hefty chunk in areas that tend to move with the same crowd. Financials, industrials, and healthcare are sprinkled in like garnish, but the main dish is clearly growthy, future-hope names. The top look-through holdings — Micron, NVIDIA, Apple, Microsoft, Amazon, Alphabet, Meta — read like a “please let AI never disappoint” wishlist. When one style or sector dominates, the portfolio becomes heavily exposed to one narrative. Right now that narrative is “chips and big platforms will save everything.” Cute while it works.
Regions
- North America 89%
- Europe Developed 4%
- Asia Developed 2%
- Japan 2%
- Asia Emerging 2%
Geographically, this is “USA or bust”: 89% in North America with the rest of the world tossed in like seasoning. Europe, Japan, and emerging markets are basically token gestures so the fact sheet can use the word “global” with a straight face. For a European investor, this is hilarious: you live in one region and invest almost entirely somewhere else. Concentrating in one economic bloc means political, regulatory, and currency risk are all heavily tilted the same way. The portfolio talks like a world traveler but its passport is permanently stuck at US immigration.
Market capitalization
- Mega-cap 39%
- Large-cap 34%
- Mid-cap 26%
- Small-cap 1%
Market cap exposure is classic big-kid bias: 39% mega-cap, 34% large-cap, and mid-caps making up most of the rest. Small caps at 1% are basically an afterthought, the financial version of crumbs in the bag. This is the “buy the winners already at the top of the scoreboard” approach. It’s comfortable and liquid, but it also means the portfolio is highly tied to whatever the current giants are doing. When leadership changes or smaller names run, this setup mostly watches from the sidelines. Safe-feeling, yes, but not exactly adventurous or early to anything.
True holdings
-
MU Micron Technology Inc 7.72%
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)
- iShares Edge MSCI USA Value Factor UCITS
-
NV NVIDIA Corporation 4.37%
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)
-
AA Apple Inc. 3.89%
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)
-
MS Microsoft Corporation 2.49%
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)
-
AM Amazon.com Inc 2.13%
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)
-
GO Alphabet Inc Class A 1.90%
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)
-
AV Broadcom Inc 1.61%
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)
-
GO Alphabet Inc Class C 1.54%
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)
-
CS Cisco Systems Inc 1.41%
Part of fund(s):- iShares Edge MSCI USA Value Factor UCITS
-
ME Meta Platforms Inc. 1.13%
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)
- Top 10 total 28.19%
The look-through holdings reveal a greatest-hits overlap problem: the same mega-tech names show up across multiple ETFs, inflating exposure without making it obvious at first glance. Micron at 7.7%, NVIDIA, Apple, Microsoft, Amazon, Alphabet, Meta — it’s like the portfolio accidentally cosplayed as a US tech momentum fund while claiming to be diversified. And that’s only from top-10 ETF positions, so the real overlap is almost certainly worse. Hidden concentration like this means a handful of companies are quietly steering a lot of the outcome, even though they’re never listed as “direct” holdings.
Risk contribution
-
State Street SPDR S&P 500 UCITS ETF (Acc)
Weight: 40.00% 39.5% -
iShares Edge MSCI USA Value Factor UCITS
Weight: 30.00% 33.1% -
SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
Weight: 30.00% 27.4%
Risk contribution exposes who’s actually driving the drama, and here the three funds split it almost exactly by weight: 40% S&P, 30% US value, 30% ACWI contributing roughly the same in risk. No small rogue position secretly torching stability — just three big engines pulling in the same direction. That sounds tidy, but it also means there’s nowhere to hide inside the portfolio when things go south. If broad equities take a hit, all three components show up to the same funeral. Everything is efficient, nothing is really cushioning anything else.
Redundant positions
-
High correlationSSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETFState Street SPDR S&P 500 UCITS ETF (Acc)
Correlation-wise, the S&P 500 ETF and the ACWI ETF basically move in lockstep. That’s like owning two versions of the same song: one “US only” and one “feat. token international guest.” High correlation means when one zigs, the other usually zigs too — just with a slight accent. In a crash, that similarity becomes painful because all the correlated parts drop together. This setup creates the illusion of diversification without the actual benefit. Different labels, near-identical soundtrack. The portfolio isn’t building shock absorbers; it’s just rearranging the same springs.
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 actually behaves itself. It sits on or very near the efficient frontier, which is the curve showing the best trade-off between risk and return using only these holdings. Sharpe ratio of 1.37 versus 1.66 for the optimal mix says there’s more juice available, but only by tweaking weights, not by changing ingredients. The minimum-variance version even offers a slightly better Sharpe than the current one. So yes, the structure is mathematically efficient — it’s just efficiently expressing one big concentrated equity bet, not some masterclass in thoughtful diversification.
Ongoing product costs
- iShares Edge MSCI USA Value Factor UCITS 0.20%
- SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF 0.45%
- Weighted costs total (per year) 0.20%
Costs are almost suspiciously low, with a total TER of 0.20%. That’s “you actually checked the fee column” territory. One fund drags its feet at 0.45%, but the overall blend stays lean enough that fees aren’t the villain here. It’s like flying economy but somehow avoiding the baggage surcharge — unglamorous but efficient. The only real joke is paying any premium for a global fund that mostly mirrors the US anyway. Still, in a world where many portfolios bleed quietly from bloated fees, this one at least isn’t paying for gold-plated nonsense.
What next?
Create your own report?
Join our community!
The information provided on this platform is for informational purposes only and should not be considered as financial or investment advice. Insightfolio does not provide investment advice, personalized recommendations, or guidance regarding the purchase, holding, or sale of financial assets. The tools and content are intended for educational purposes only and are not tailored to individual circumstances, financial needs, or objectives.
Insightfolio assumes no liability for the accuracy, completeness, or reliability of the information presented. Users are solely responsible for verifying the information and making independent decisions based on their own research and careful consideration. Use of the platform should not replace consultation with qualified financial professionals.
Investments involve risks. Users should be aware that the value of investments may fluctuate and that past performance is not an indicator of future results. Investment decisions should be based on personal financial goals, risk tolerance, and independent evaluation of relevant information.
Insightfolio does not endorse or guarantee the suitability of any particular financial product, security, or strategy. Any projections, forecasts, or hypothetical scenarios presented on the platform are for illustrative purposes only and are not guarantees of future outcomes.
By accessing the services, information, or content offered by Insightfolio, users acknowledge and agree to these terms of the disclaimer. If you do not agree to these terms, please do not use our platform.
Instrument logos provided by Elbstream.
Help us improve Insightfolio
Your feedback makes a difference! Share your thoughts in our quick survey. Take the survey