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Cautious multi fund portfolio with solid past returns but limited diversification and hidden risk concentrations

Report created on Sep 24, 2026

Risk profile Info

3/7
Cautious
Less risk More risk

Diversification profile Info

2/5
Low Diversity
Less diversification More diversification
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Positions

This portfolio is built from ten actively managed mutual funds, each with an equal 10% weight. Structurally, that looks nicely balanced because no single fund dominates on size. However, all holdings are of the same product type, so diversification mainly comes from what the fund managers choose inside each fund rather than from different wrappers like ETFs or bonds directly. The portfolio’s risk label of 3/7 confirms that it targets a relatively cautious profile. An equal‑weight structure is simple and easy to understand, but it can hide overlaps if several managers buy the same popular companies. That means the real diversification depends less on the number of funds and more on how different their underlying portfolios are.

Growth Info

From April 2018 to September 2026, €1,000 grew to about €2,038, which is a compound annual growth rate (CAGR) of 9.62%. CAGR is like your average speed on a long car trip, smoothing out all the ups and downs along the way. Over the same period, the US market and global market did better, with higher CAGRs but also slightly deeper drawdowns. This portfolio’s maximum drawdown of about -26% in early 2020 was smaller than the roughly -34% market drops, which fits its cautious risk score. That trade‑off—less downside but also lower long‑term growth—shows how a defensive tilt can protect somewhat in shocks while lagging in strong bull markets.

Projection Info

The Monte Carlo projection looks at many possible futures by shuffling and resampling the portfolio’s historical returns. Think of it as running 1,000 alternate timelines based on how the portfolio behaved in the past. After 15 years, the median scenario takes €1,000 to about €1,563, an annualized 3.78% across all simulations, with a fairly wide possible range. Only 55% of simulations end with a positive result, showing meaningful uncertainty. These simulations are not predictions; they simply explore “what if the future rhymed with the past.” Structural changes in markets, interest rates, or fund strategies can easily make actual outcomes very different, so the numbers should be seen as rough guideposts, not expectations.

Asset classes Info

  • Stocks
    70%
  • Mixed
    20%
  • No data
    10%

On an asset class level, around 70% of the portfolio is classified as stocks, 20% as mixed, and 10% with no data. Mixed funds usually combine equities with other assets such as bonds or cash, which can dampen volatility compared with pure equity exposure. A 70/20 equity–mixed blend is slightly more defensive than a typical 100% equity benchmark, aligning with the cautious risk rating. The 10% “no data” slice simply reflects missing classification, so it’s not clear what risk it adds. Overall, the structure implies a clear tilt toward growth from equities while using mixed funds as a built‑in shock absorber rather than holding separate bond funds directly.

We don't have a breakdown of what these holdings contain, so these sections are left out: Sectors, Regions, Market capitalization.

Risk contribution Info

  • Allianz Global Artificial Intelligence AT Acc EUR
    Weight: 10.00%
    21.5%
  • DWS VERMOEGENSBIL.FD.I LD
    Weight: 10.00%
    12.6%
  • DWS Akkumula LC
    Weight: 10.00%
    12.4%
  • UNIGLOBAL ANTEILSSCH.KL.
    Weight: 10.00%
    10.6%
  • Deka-DividendenStrategie CF (A)
    Weight: 10.00%
    9.8%
  • Top 5 risk contribution 66.8%

Risk contribution shows how much each holding drives the portfolio’s overall ups and downs, which can differ from simple weight. Allianz Global Artificial Intelligence, at 10% weight, contributes about 21% of total risk—more than double its size—highlighting it as the main volatility driver. The two DWS funds and the Vermögensbildungs fund also contribute slightly more risk than their weights, while some dividend‑oriented funds contribute slightly less. The top three positions together account for about 46% of portfolio risk, despite being only 30% of the assets. This pattern is typical when one or two growth‑heavy funds are more volatile; they act like the “loud instruments” in the orchestra, setting much of the portfolio’s overall noise level.

Redundant positions Info

  • DWS Akkumula LC
    DWS VERMOEGENSBIL.FD.I LD
    High correlation

The correlation data notes that DWS Akkumula and DWS Vermögensbildungs move almost identically. Correlation measures how often assets move together: a value near 1 means they behave similarly, so holding both doesn’t add much diversification benefit. When two funds are highly correlated, they effectively act like a single, larger position from a risk perspective even if they are separate products. That’s not necessarily a problem, but it does mean the portfolio may be less diversified than the number of line items suggests. In downturns that hit their shared holdings, both funds are likely to fall at the same time, reducing the cushioning effect that less‑correlated assets could provide.

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 compares this portfolio’s risk and return to the best possible mixes using the same holdings. The current portfolio has a Sharpe ratio of 0.68, while the optimal combination reaches 1.03, meaning much better return per unit of risk. Sharpe ratio is like a “bang for your buck” score, comparing extra return over cash to volatility. The portfolio sits about 1.9 percentage points below the efficient frontier at its current risk level, so historically there were mixes of these same funds that achieved higher return for similar risk. That doesn’t guarantee the same in future, but it suggests the current equal‑weight setup has not been the most efficient use of the available building blocks.

Dividends Info

  • UniRak not available
  • UNIGLOBAL ANTEILSSCH.KL. not available
  • DWS Top Dividende LD not available
  • Carmignac Patrimoine A EUR Acc not available
  • FvS SICAV Multiple Opportunities not available
  • DWS VERMOEGENSBIL.FD.I LD not available
  • Deka-DividendenStrategie CF (A) not available
  • Weighted yield (per year) not available

Several funds list dividend yields, and the portfolio has an overall distribution yield figure, though exact percentages aren’t filled in. Dividend‑oriented funds generally contribute a higher portion of returns through regular cash payouts, which can be helpful for smoothing the experience during flat markets. When dividends are reinvested, they also quietly boost long‑term compounding, even if prices move sideways for a while. In this portfolio, the presence of multiple dividend strategies implies that income plays a meaningful role alongside capital growth. The trade‑off is that dividend‑heavy approaches can sometimes lag pure growth strategies in very strong bull markets, but they tend to offer a steadier return pattern over time.

Ongoing product costs Info

  • DWS Akkumula LC not available
  • UniRak not available
  • UNIGLOBAL ANTEILSSCH.KL. not available
  • DWS Top Dividende LD not available
  • Carmignac Patrimoine A EUR Acc not available
  • Templeton Growth (Euro) Fund A(acc)EUR not available
  • FvS SICAV Multiple Opportunities not available
  • Allianz Global Artificial Intelligence AT Acc EUR not available
  • DWS VERMOEGENSBIL.FD.I LD not available
  • Deka-DividendenStrategie CF (A) not available
  • Weighted costs total (per year) not available

All holdings are actively managed mutual funds, each with its own ongoing charge (TER), and the portfolio shows a combined Total TER, though exact percentages are not specified here. TER—Total Expense Ratio—is like an annual subscription fee taken directly from fund assets, quietly reducing returns over time. Active funds typically cost more than index trackers because they pay for research and management. Over long periods, even small differences in TER compound significantly, especially on larger portfolios. The key point is that this portfolio bears a structural cost headwind every year. When evaluating performance, it’s worth remembering that the historical returns already shown are after these fees, so the managers have generated enough gross returns to cover costs so far.

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