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Factor-obsessed equity junkie that pretends to be balanced while hugging the benchmark hard

Report created on May 1, 2026

Risk profile Info

4/7
Balanced
Less risk More risk

Diversification profile Info

4/5
Broadly Diversified
Less diversification More diversification

Positions

This portfolio is basically an equities-only smoothie made from three ingredients: plain market beta, value sprinkles, and a dash of momentum, all pretending to be something sophisticated. Thirty percent S&P 500 plus thirty percent ACWI is like ordering two versions of the same burger and feeling “diversified” because the buns look different. Then there’s the factor trio, which sounds clever but mostly piles on more of the same global large caps with a style twist. Structurally, it’s coherent but a bit cosplay: it wears the costume of a smart-factor strategy, but under the hood it’s still a global stock portfolio with a serious US lean and some style seasoning.

Growth Info

Historically, the portfolio’s been on a sugar high: €1,000 turning into €1,684 in under two and a half years with a 23.3% CAGR is “this will spoil you” territory. It even outpaced both US and global benchmarks by roughly 3.5 percentage points per year, while not crashing any harder than they did. Of course, this is the recent past, which was very kind to tech-heavy, quality-ish, growth-ish mixes like this. CAGR is just the smoothed average of a bumpy ride, and this ride had a -20% drawdown reminder that stocks don’t always go up. Treat this period as a particularly flattering selfie, not a driver’s license photo.

Projection Info

The Monte Carlo projection basically says, “Yeah, this might work out, but don’t get cocky.” Simulations spit out a median of €2,724 from €1,000 over 15 years, with a wide “you might feel fine or mildly sick” band from about €1,810 to €4,463. At the extremes, you’ve got “why did I bother” around €906 and “maybe I am a genius” at €8,160. Monte Carlo is just a nerdy dice roll using past volatility and returns, so it’s more weather forecast than prophecy. The 73.9% chance of ending positive is decent, but that also means roughly one in four timelines ends with a “meh” or worse.

Asset classes Info

  • Stocks
    100%

Asset classes? What asset classes. This thing is 100% stocks like it’s allergic to anything that might cushion a fall. It carries a “balanced” label with a 4/7 risk score, but with zero bonds and zero anything-else, it’s basically a stock fund wearing a slightly conservative name tag. Having only one asset class is like a diet of only coffee: great when it works, rough when it doesn’t. In calm or bullish markets, this looks efficient and focused. In real selloffs, though, there’s nothing here whose job is to zig when equities zag; everything just takes the same elevator down together.

Sectors Info

  • Technology
    30%
  • Financials
    17%
  • Industrials
    11%
  • Consumer Discretionary
    9%
  • Health Care
    8%
  • Telecommunications
    8%
  • Energy
    5%
  • Basic Materials
    4%
  • Consumer Staples
    4%
  • Utilities
    3%
  • Real Estate
    2%

Sector-wise, the portfolio is very clear about its crush: 30% in technology is a full-blown tech addiction. Then come financials, industrials, and consumer discretionary providing some illusion of balance, but make no mistake, this is still a growth-and-tech flavored portfolio. Compared to a bland world index, the tech tilt is turned up a notch, which is great when the market worships chips and code, and less fun when regulators, rates, or just plain gravity show up. The smaller allocations to things like utilities and staples mean there’s not much in the way of boring, defensive ballast when the exciting stuff stops being exciting.

Regions Info

  • North America
    57%
  • Europe Developed
    19%
  • Asia Developed
    9%
  • Asia Emerging
    6%
  • Japan
    4%
  • Latin America
    2%
  • Africa/Middle East
    1%
  • Europe Emerging
    1%

Geographically, the message is: North America or it didn’t happen. With 57% parked there, the rest of the world is basically background scenery. Europe tries to make a showing at 19%, and Asia plus emerging markets are sprinkled in like garnish so the allocation pie chart looks more cosmopolitan than it really is. It’s still a US-led story in practice. That works brilliantly when US megacaps are carrying the global market, as they have recently, but it’s concentration risk disguised as “global.” If leadership rotates elsewhere, this setup will be late to the party, if it shows up at all.

Market capitalization Info

  • Mega-cap
    46%
  • Large-cap
    39%
  • Mid-cap
    15%

Market cap-wise, this portfolio has clearly decided that big is beautiful: 46% mega-caps and 39% large-caps, with only a token 15% mid-caps thrown in for variety. This is textbook index comfort zone — you’re basically outsourcing your conviction to whatever’s already huge. That makes the ride smoother than a small-cap circus, but it also means future returns lean heavily on already-dominant giants continuing their winning streak. If market leadership ever shifts down the size spectrum, this portfolio will mostly be watching from the megacap VIP lounge while the actual party happens on the smaller-cap dance floor.

True holdings Info

  • NVIDIA Corporation
    3.68%
    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
  • Apple Inc
    3.24%
    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
  • Microsoft Corporation
    2.34%
    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
  • Taiwan Semiconductor Manufacturing Co. Ltd.
    2.00%
    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
    1.75%
    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
  • Alphabet Inc Class A
    1.45%
    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
  • Broadcom Inc
    1.25%
    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
  • Alphabet Inc Class C
    1.19%
    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
  • Meta Platforms Inc.
    1.08%
    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
  • Tesla Inc
    0.91%
    Part of fund(s):
    • LS 1x Tesla Tracker ETP Securities GBP
    • 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 18.89%

The look-through holdings scream “hidden megacap fan club.” NVIDIA, Apple, Microsoft, TSMC, Amazon, Alphabet (twice), Broadcom, Meta, and Tesla — it’s the usual suspects lineup. These names show up via multiple ETFs, creating overlap that the 29% top-10 coverage probably understates. So while the portfolio looks diversified by ticker count, a chunk of the real risk is tied to a small celebrity group of tech and tech-adjacent giants. That overlap is like buying three different playlists that all start with the same ten songs: it feels varied until you realize you’ve basically paid several times for the same soundtrack.

Risk contribution Info

  • SPDR S&P 500 UCITS ETF USD Acc EUR
    Weight: 30.00%
    31.2%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    Weight: 30.00%
    30.0%
  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
    Weight: 15.00%
    15.4%
  • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
    Weight: 15.00%
    13.7%
  • iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Acc)
    Weight: 10.00%
    9.8%

Risk contribution is refreshingly honest here: the big weights are the ones actually driving risk. The S&P 500 slice is 30% of weight and about 31% of risk; ACWI is 30% and 30%; EM Value is 15% and 15%. No tiny position secretly wrecking the place — just the obvious giants doing the heavy lifting. The top three funds still account for over 76% of total risk contribution, though, so this isn’t a democracy; it’s a three-fund oligarchy. Risk contribution is basically a spotlight on who’s shaking the performance most, and in this portfolio, the main index sleeves are clearly running the show.

Redundant positions Info

  • SPDR S&P 500 UCITS ETF USD Acc EUR
    SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    High correlation

The correlation story is short and slightly embarrassing: the S&P 500 ETF and the ACWI ETF move almost identically. That’s not diversification; that’s buying two versions of the same plot twist and calling it a trilogy. High correlation means when one fund dives, the other usually swan-dives right next to it, so owning both is more psychological comfort than actual risk reduction. Correlation is just a fancy way of saying how often things dance in sync, and these two are practically glued together on the dance floor, which makes that 60% combined weight a bit redundant from a risk-spreading perspective.

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 is basically leaving free money on the floor. It sits 2.3 percentage points below the efficient frontier at its risk level, which means that with the same ingredients, a different mix could historically have delivered higher returns for the same volatility. The Sharpe ratio of 1.34 trails both the max-Sharpe portfolio at 1.81 and even the minimum-variance one at 1.52. Sharpe is just return per unit of pain, and right now this setup is paying full price for the pain without claiming all the available return. It’s not disastrous, just lazily suboptimal.

Ongoing product costs Info

  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD 0.40%
  • iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Acc) 0.25%
  • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR 0.30%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF 0.45%
  • Weighted costs total (per year) 0.26%

Costs are, annoyingly, one of the most sensible parts of this setup. A total TER of 0.26% for a pile of factor and broad-market ETFs is actually pretty efficient — like accidentally finding a decent deal while impulse shopping. Individual funds do wander up to 0.40–0.45%, which is not dirt cheap for plain market exposure, but the blended cost is reasonable. Fees are the slow, boring villain of investing; here they’re more mildly annoying than destructive. You’re not being totally fleeced, but you are paying a modest premium for a structure that still hugs broad indexes pretty closely.

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