ENAM.MI - 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)

15.3% p.a.

5-Year Horizon

Max Drawdown (5Y)

-21.7%

Deepest Drawdown

Sharpe Ratio

0.65

Good (0.5 - 1.0)

Rec. Holding Period

5 - 10+ Years

Investment Horizon

Elevated Risk / Growth: Score Basis:

Diversification Score

Focused (35% – 50%)

68 / 100 Portfolio Diversification

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

Focused weighting: Top holdings drive a major share of fund returns.

Top 10 Holdings

37%

Focused

Effective Holdings

~69

of 438 holdings

Top Sector

39.0%

Technology

Top Region / Country

96.9%

United States

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.

High Volatility

Timeframe	Volatility (p.a.)	Max Drawdown	Sharpe Ratio	Return (p.a.)
1 Year	—	—	—	+19.9%
3 Years	14.2%	-21.7%	1.23	+20%
5 Years	15.3%	-21.7%	0.65	+12.5%
10 Years	35.1%	-96.0%	-0.59	—

Notes & Warnings

🟢 Favorable / fair valuation: Avg P/E of 24.7

🟢 Deep market liquidity & capital coverage (Tier 1)

🟢 Established large fund (> 500M € AUM)

🟢 High institutional analyst coverage (30.3 analysts)

⚠️ Sector concentration: 39% in "Technology".

⚠️ Growth estimates are concentrated: Top 3 growth drivers account for 47% of forward growth.

⚠️ Elevated Regulatory & Policy Risk: 40% in heavily regulated industries (defense, regulated utilities, healthcare policy).

🔴 Structurally High Volatility: Above-average fluctuations persist across 5 to 10 years (15.3% p.a.).

⚠️ Historical Stress Test: Maximum peak-to-trough drawdown of -96.0% in the extended horizon.