EXH9.DE - Risk

Risk & Diversification Scores

Transparent evaluation of price volatility (SRI) and 4-dimensional portfolio diversification.

Volatility Risk Score

5/7 Elevated

5 / 7 SRI PRIIPs Risk Class

Above-average volatility. Suitable for experienced investors with high risk tolerance (5+ years horizon).

Volatility (5Y)

16.0% p.a.

5-Year Horizon

Max Drawdown (5Y)

-23.3%

Deepest Drawdown

Sharpe Ratio

0.35

Moderate (0.0 - 0.5)

Rec. Holding Period

5 - 10+ Years

Investment Horizon

Elevated Risk / Growth: Score Basis:

Diversification Score

High Concentration (> 50%)

11 / 100 Portfolio Diversification

4 Dimensions: Holdings (30%) • Sectors (25%) • Industries (25%) • Regions (20%)

High concentration risk: A few heavyweights drive the majority of fund value.

Top 10 Holdings

80.3%

Focused

Effective Holdings

~15

of 28 holdings

Top Sector

96.3%

Utilities

Top Region / Country

27.1%

Spain

Elevated concentration in top individual holdings, leading sectors, or key regions.

Multi-Horizon Risk & Performance Matrix

Historical volatility, drawdowns, and risk-adjusted return across 1, 3, 5, and 10 years.

Timeframe	Volatility (p.a.)	Max Drawdown	Sharpe Ratio	Return (p.a.)
1 Year	—	—	—	+17.7%
3 Years	14.9%	-11.2%	0.92	+16.2%
5 Years	16.0%	-23.3%	0.35	+8.1%
10 Years	16.8%	-33.2%	0.28	+7.1%

Notes & Warnings

🟢 Favorable / fair valuation: Avg P/E of 18.1

🟢 Established large fund (> 500M € AUM)

🟡 Moderate analyst coverage (13.6 analysts)

🔴 Extreme top 10 holdings concentration: 80% of fund in top 10 positions.

🔴 Severe sector concentration risk: 96% in "Utilities".

🔴 Extreme industry concentration: 64% in "Utilities - Diversified".

⚠️ Growth estimates are concentrated: Top 3 growth drivers account for 46% of forward growth.

⚠️ Elevated Interest Rate Sensitivity: 96% in rate-sensitive or leverage-heavy industries (real estate, banks, utilities).

⚠️ Elevated Regulatory & Policy Risk: 100% in heavily regulated industries (defense, regulated utilities, healthcare policy).

🟢 Strong Defensive Buffer: 100% in crisis-resilient, non-cyclical sectors (consumer staples, healthcare, utilities).