Value flavoured global index cosplay with accidental tech addiction and copy paste diversification
Report created on Apr 28, 2026Risk profile
4/7
Diversification profile
3/5
Positions
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IS iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
IS3S - IE00BD45HH35 50.00% -
SP SPDR S&P 500 UCITS ETF USD Acc EUR
SPYL - IE000XZSV718 25.00% -
SP SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
SPYY - IE00B44Z5B48 25.00%
This “portfolio” is basically three different ways of owning the same global stock market and calling it diversification. Half the money sits in a world value factor fund, then 25% goes to a plain S&P 500, and the final 25% to an ACWI fund that… already contains most of the S&P 500 plus plenty of overlap with the value ETF. It’s like buying a combo meal, then ordering extra fries and another drink on the side. Structurally, it’s simple and clean, but there’s a lot less variety here than the fund names suggest. For something labeled “moderately diversified,” this is really just “global equities with a value hat.”
Growth
The historical performance looks like it was written by a marketing department on caffeine: 21.82% CAGR since late 2023 and €1,000 turning into €1,634. That’s a sprint, not a jog. You even outpaced both the US and global markets by about 2% a year while suffering a slightly smaller or similar max drawdown. CAGR (compound annual growth rate) is basically your average speed on a wild road trip, and this car was flooring it. Just don’t confuse a hot recent run with genius design; this is a glorified index mashup riding a strong equity wave. Past performance is yesterday’s weather, not tomorrow’s forecast.
Projection
The Monte Carlo projection basically says, “Yeah, this could work out… or not.” Monte Carlo is just a fancy way of rolling the dice 1,000 times on future returns using past volatility and some assumptions. Median outcome: €1,000 becomes €2,760 in 15 years, but the range is hilariously wide — from barely above water to lottery-ish €7,211. An 8.04% average annualized return across simulations is solid, but it’s all within the normal “global equity rollercoaster” vibe. The 75.2% chance of a positive outcome is decent, but hardly bulletproof. In other words, this isn’t a careful strategy; it’s a straight bet that stocks keep doing stock things.
Asset classes
- Stocks 100%
Asset classes: 100% stocks, 0% anything else. So much for “balanced investors” — this is balanced the way a one-legged stool is balanced if you don’t lean too hard. There’s no bonds, no cash buffer, no diversifying assets to dampen the ride. It’s all in on the equity rollercoaster and hoping the safety bar holds. Asset allocation is usually where people decide how much drama they want in their net worth; here, the drama dial is turned firmly toward “let’s see what happens.” If volatility shows up again like 2025’s drawdown, there’s nothing else in the mix to soften the blow.
Sectors
- Technology 31%
- Financials 15%
- Industrials 11%
- Consumer Discretionary 9%
- Health Care 9%
- Telecommunications 9%
- Consumer Staples 5%
- Energy 4%
- Basic Materials 3%
- Utilities 3%
- Real Estate 2%
Sector-wise, this portfolio is pretending to be “value” while sneaking 31% into technology like a kid stuffing candy into the shopping cart. Financials at 15% and industrials at 11% add some old-school flavor, but tech is still leading the dance. The rest is a reasonable spread across consumer, health, telecom, and defensive areas, so nothing completely absurd on paper. But the top look-through names — NVIDIA, Apple, Microsoft, Micron, Amazon, Broadcom, Intel — scream “growth/AI party,” not “disciplined value.” The label says sensible factor tilt; the contents look like someone couldn’t resist joining the tech mania anyway.
Regions
- North America 64%
- Europe Developed 19%
- Japan 12%
- Asia Developed 3%
- Asia Emerging 1%
- Africa/Middle East 1%
- Australasia 1%
Geographically, this is yet another portfolio that thinks 64% in North America is just how the universe is supposed to be. Europe Developed limps in at 19%, Japan at 12%, and the rest of the world gets tossed a few percent like tip money. This is what happens when you stack global and US-heavy indices: you end up basically mirroring market cap weights, not making any bold geographic calls. It’s not “wrong,” just extremely unoriginal. The label says global; the reality is “mostly US with some international garnish” — which is fine, as long as no one is pretending it’s some sophisticated geographic view.
Market capitalization
- Large-cap 47%
- Mega-cap 34%
- Mid-cap 18%
- Small-cap 1%
Market cap exposure is a love letter to big companies: 34% mega-cap, 47% large-cap, 18% mid-cap, and a lonely 1% in small caps. This isn’t exploring the market; it’s standing in the mega-cap food court and refusing to leave. That’s what you get with broad indexes and factor funds built on the same large-cap universe — lots of overlap at the top, zero real interest in the scrappy smaller names. The result is smooth-ish liquidity and less idiosyncratic risk, but also a total dependence on the giants of the market to keep carrying the story. If the titans stumble, the whole thing limps.
True holdings
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NV NVIDIA Corporation 3.07%
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
-
MU Micron Technology Inc 2.72%
Part of fund(s):- iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
-
AA Apple Inc 2.70%
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
-
MS Microsoft Corporation 1.95%
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
-
CS Cisco Systems Inc 1.76%
Part of fund(s):- iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
-
AM Amazon.com Inc 1.46%
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
-
IN Intel Corporation 1.39%
Part of fund(s):- iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
-
GO Alphabet Inc Class A 1.21%
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
-
VZ Verizon Communications Inc 1.19%
Part of fund(s):- iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
-
AV Broadcom Inc 1.04%
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
- Top 10 total 18.48%
The look-through holdings are basically a tech greatest-hits playlist masquerading as diversified global equity. NVIDIA, Micron, Apple, Microsoft, Cisco, Amazon, Intel, Alphabet, Verizon, Broadcom — your supposed “value tilt” is stuffed with the same market darlings everyone owns, just via multiple wrappers. Overlap is absolutely happening here, but the analysis only covers ETF top 10s, so real duplication is likely much worse. This is the classic index stacking problem: different tickers, same underlying names. You’re paying multiple managers to all hand you the same large-cap tech and communication giants, while thinking three funds equals three ideas.
Risk contribution
-
iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
Weight: 50.00% 49.0% -
SPDR S&P 500 UCITS ETF USD Acc EUR
Weight: 25.00% 26.1% -
SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
Weight: 25.00% 24.9%
Risk contribution is hilariously literal here: three funds, each doing basically their pro-rata share of the risk. The value ETF owns 50% weight and supplies 49.01% of the risk; the S&P slice is 25% weight and 26.08% of risk; ACWI is 25% weight and 24.90% of risk. Risk/weight ratios hovering right around 1.0 mean nothing is secretly wild — but that’s mostly because they’re all variations of the same broad equity theme. The whole portfolio is just one big block of stock market beta pretending to be three distinct personalities. No hidden time bombs, but also no real nuance.
Redundant positions
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High correlationSPDR S&P 500 UCITS ETF USD Acc EURSSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
The correlation section spells out the obvious: the S&P 500 ETF and the ACWI ETF move almost identically. That’s like owning both Coke and a cola-branded store brand and insisting they’re totally different drinks. Highly correlated holdings mean when one zigs, the other… also zigs, which is cute in normal times and brutal in crashes. Correlation just measures how much things move together; here, they’re basically glued. The value ETF will help a little around the edges, but in a real equity selloff, this portfolio parties together on the way up and panics together on the way down.
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 efficient frontier, this portfolio actually behaves like it knows what it’s doing. A Sharpe ratio of 1.27 versus an optimal 1.56 and a minimum variance 1.5, with the note that it sits on or very near the frontier, means the risk-return trade-off is surprisingly efficient given the simplicity. Sharpe ratio is basically return per unit of drama, and this setup is getting decent value for the stress level. The funny part is that all this efficiency comes from juggling three near-identical global equity funds; even random-ish weights among them accidentally landed close to “mathematically respectable.”
Ongoing product costs
- 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) 0.19%
Costs are one of the few areas where this portfolio doesn’t embarrass itself. A total TER of 0.19% is very reasonable, helped massively by that 0.03% S&P fund quietly doing most of the heavy lifting. The 0.30% for the value ETF is slightly chunky but not outrageous, and 0.12% for ACWI is vanilla index pricing. For what is basically a fancy way of owning the world market with some cosmetic tilts, the price tag is acceptable. You’re not lighting money on fire here — more like paying modestly for a setup that looks more complex than it actually is.
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