Roast mode 🔥

Efficient looking portfolio quietly paying double for the same global salad with extra factor dressing

Report created on Apr 7, 2026

Risk profile

  • Secure
    Speculative

The risk profile, derived from past market volatility, reflects the level of risk the portfolio is exposed to. This assessment helps align your investments with your financial goals and comfort with market fluctuations.

Diversification profile

  • Focused
    Diversified

The diversification assessment evaluates the spread of investments across asset classes, regions, and sectors. This ensures a balanced mix, reducing risk and maximizing returns by not concentrating in any single area.

Positions

Structurally this portfolio looks like someone started building a clean core-satellite setup then got bored halfway. You’ve got two giant “own-the-world” funds each at 30%, which is already overlapping heavily, and then three factor-flavoured satellites taking up the rest. It’s tidy but weirdly redundant: owning ACWI and the S&P 500 together is like buying the full buffet and then also paying separately for the main course. The result is less “balanced masterpiece” and more “well-behaved clutter.” Takeaway: if two funds more or less hold the same global giants, you’re not diversifying, you’re just stacking clones.

Growth Info

The past performance is annoyingly good, which makes roasting harder. A 20.25% CAGR from late 2023 to early 2026, beating both the US and global markets by around 3 percentage points a year, is strong. CAGR (compound annual growth rate) is basically your “average speed” over the trip, potholes included. Max drawdown of about -20% isn’t mild, but you still fell *less* than the benchmarks. Just remember: this is a short, very kind slice of history, during a tech-heavy ramp-up. Past data is yesterday’s weather forecast — useful, but it doesn’t promise the next storm will be as gentle.

Projection Info

The Monte Carlo projection basically says: “This could go great, could be meh, could be ugly — welcome to investing.” Monte Carlo just runs thousands of random what-if paths using historical-like volatility, then shows the spread. Median outcome of €2,858 from €1,000 over 15 years with an 8.27% annualized simulated return is solid but not fantasy-level. The fact that the 5th percentile barely preserves capital (€1,008) reminds you this party can end with flat results after 15 years. Past-like scenarios are useful, but markets don’t read your simulation. Treat this as a weather map, not a script.

Asset classes Info

  • Stocks
    100%

Asset classes: 100% stocks, zero anything else. For a “balanced” risk score of 4/7, this is less “balanced” and more “equities or death.” No bonds, no cash buffer, no stabilizers — just pure market beta with a bit of factor seasoning. That’s fine if the time horizon is long and nerves are made of titanium, but let’s not pretend this is some sedate middle-of-the-road mix. It’s a one-asset-class rollercoaster with decent seatbelts, not a family SUV. General takeaway: if everything you own can drop 30–50% in a bad crash, the label “balanced” is a marketing choice, not reality.

Sectors Info

  • Technology
    25%
  • Financials
    19%
  • Industrials
    13%
  • Health Care
    8%
  • Consumer Discretionary
    8%
  • Telecommunications
    7%
  • Basic Materials
    4%
  • Consumer Staples
    4%
  • Energy
    4%
  • Utilities
    4%
  • Real Estate
    2%

Sector-wise, you’re running a 25% tech habit disguised as sophistication. Financials at 19% and industrials at 13% round out a very cyclical, economically sensitive lineup. The lower allocation to more boring, defensive areas means this portfolio likes the drama of growth and activity rather than stable plodders. It’s not absurdly lopsided, but you are betting that the “innovation + money + machines” trio (tech, financials, industrials) keeps doing a lot of the heavy lifting. Takeaway: sector weights matter because when the hot parts of the economy sneeze, this portfolio absolutely catches a cold.

Regions Info

  • North America
    54%
  • Europe Developed
    27%
  • Asia Developed
    6%
  • Asia Emerging
    5%
  • Japan
    4%
  • Latin America
    2%
  • Africa/Middle East
    1%

Geographically, this thing is “America first with a side of Europe.” North America at 54% and developed Europe at 27% means over 80% of your equity world lives in Western capitalism central. Asia, emerging markets, and everywhere else are basically cameo appearances. It’s better than a 100% home-country love affair, but still pretty Western-heavy. You’re essentially saying future global growth will keep being led by the same old powerhouses while the rest of the world tags along politely. Takeaway: this is fine if you consciously want that bias; it’s lazy if you accidentally built it by only picking mainstream global ETFs.

Market capitalization Info

  • Mega-cap
    47%
  • Large-cap
    38%
  • Mid-cap
    14%

The market cap mix of 47% mega-cap, 38% large-cap, and 14% mid-cap is the investing equivalent of “I only trust the big brands.” Tiny companies clearly didn’t get an invite. This is a classic index-style bias: size gives stability and liquidity, but it also means you’re paying up for companies everyone already knows and loves. You get fewer wild blow-ups, but also fewer early-stage rockets. Takeaway: a mega/large tilt is perfectly normal, just don’t kid yourself that this is a daring, undiscovered-gems portfolio — it’s more global blue-chip fanclub.

True holdings Info

  • NVIDIA Corporation
    3.52%
    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
    3.19%
    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
  • Microsoft Corporation
    2.33%
    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
  • Amazon.com Inc
    1.66%
    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.
    1.51%
    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
  • Alphabet Inc Class A
    1.48%
    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
    1.21%
    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
  • Broadcom Inc
    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
  • Meta Platforms Inc.
    1.15%
    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
  • Banco Santander S.A.
    1.01%
    Part of fund(s):
    • iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Acc)
  • Top 10 total 18.26%

The look-through holdings scream “I say I’m diversified but I dream in mega-tech.” NVIDIA, Apple, Microsoft, Amazon, Alphabet, Meta, TSMC, Broadcom — you’ve built a shrine to the usual global giants without holding them directly. They’re lurking inside multiple funds, creating stealth concentration. Overlap is probably worse than it even looks because we only see ETF top-10s. It’s like owning five mutual friends and pretending you don’t keep ending up at the same party. Takeaway: if the same names keep showing up on every list, your “many funds” are actually one crowded trade wearing different logos.

Risk contribution Info

  • SPDR S&P 500 UCITS ETF USD Acc EUR
    Weight: 30.00%
    31.5%
  • SSgA SPDR ETFs Europe I Public Limited Company - SPDR MSCI ACWI UCITS ETF
    Weight: 30.00%
    29.9%
  • iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Acc)
    Weight: 20.00%
    19.9%
  • iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc) USD
    Weight: 10.00%
    9.7%
  • iShares Edge MSCI World Value Factor UCITS ETF USD (Acc) EUR
    Weight: 10.00%
    9.0%

Risk contribution here is very “what you see is what you get” — which is both comforting and a bit dull. The S&P 500 ETF and the ACWI ETF together weigh 60% and contribute about 61% of total risk. The top three holdings drive over 81% of portfolio risk, but that roughly matches their weights, so there’s no silent maniac position wrecking things. Risk contribution just shows who’s actually rocking the boat, not who’s sitting prettily in the weight column. Takeaway: if almost all your risk comes from a few broad, vanilla funds, your real decision is just how married you are to those big indices.

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 section might as well say “These two are the same outfit in slightly different colours.” Your S&P 500 ETF and ACWI ETF are highly correlated — meaning they move almost identically most of the time. Correlation is just how similarly two things wiggle; high correlation means if one trips, the other faceplants too. Holding both as massive chunks of the portfolio is like buying two tickets for the same seat. Takeaway: if two holdings move in lockstep, they’re not diversifying each other, they’re just echoing the same risk with extra paperwork.

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 is basically yelling: “Nice choices, terrible proportions.” Your current portfolio sits below the frontier, with a Sharpe ratio of 1.16, while the optimal reshuffle of the *exact same funds* hits 1.64. Sharpe ratio measures return per unit of risk — like how far your car goes per litre of fuel. You’re leaving about 2.94 percentage points of return on the table at your current risk level just by mixing the ingredients awkwardly. Takeaway: you don’t need new products; simply reweighting what you already own could make the risk/return deal a lot less wasteful.

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 actually one of the few unambiguously sensible parts here. A total TER of 0.26% isn’t ultra-cheap, but it’s comfortably in the “I’m not being robbed” zone. TER (total expense ratio) is the annual fee drag — like the small leak in your investment bucket. You did sneak in a 0.45% ACWI fund and a 0.40% EM value fund, which is hardly bargain-bin pricing, but overall the blend is reasonable. Takeaway: for a five-ETF setup with factor tilts, this fee level is fine — just know you’re paying a small premium for the fancy spices instead of plain index rice.

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