ETSZ.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)

14.3% p.a.

5-Year Horizon

Max Drawdown (5Y)

-20.6%

Deepest Drawdown

Sharpe Ratio

0.48

Moderate (0.0 - 0.5)

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

49.4%

Focused

Effective Holdings

~33

of 53 holdings

Top Sector

38.4%

Financial Services

Top Region / Country

29.8%

Germany

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	—	—	—	+11.6%
3 Years	12.7%	-16.4%	0.99	+15%
5 Years	14.3%	-20.6%	0.48	+9.4%
10 Years	128.1%	-81.9%	0.05	+9.2%

Notes & Warnings

🟢 Favorable / fair valuation: Avg P/E of 13.4

🟢 Established large fund (> 500M € AUM)

🟡 Moderate analyst coverage (15.4 analysts)

⚠️ Elevated top 10 holdings concentration: 49% of fund in top 10 positions.

⚠️ Sector concentration: 38% in "Financial Services".

⚠️ Elevated Economic Cyclicality: 53% in cyclical industries – more vulnerable to economic downturns.

⚠️ Elevated Interest Rate Sensitivity: 55% in rate-sensitive or leverage-heavy industries (real estate, banks, utilities).

⚠️ Elevated Regulatory & Policy Risk: 75% in heavily regulated industries (defense, regulated utilities, healthcare policy).

🔴 Structurally High Volatility: Above-average fluctuations persist across 5 to 10 years (14.3% p.a.).

⚠️ Historical Stress Test: Maximum peak-to-trough drawdown of -81.9% in the extended horizon.