TNO.MI - Risk

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

Volatility Risk Score

6/7 High

6 / 7 SRI PRIIPs Risk Class

Very high volatility or fundamental risks. Significant loss potential; strictly for aggressive investors.

Volatility (3Y)

23.8% p.a.

Fallback

Max Drawdown (3Y)

-23.8%

Fallback

Sharpe Ratio

0.37

Moderate (0.0 - 0.5)

Rec. Holding Period

10+ Years

Investment Horizon

Speculative / High Risk: Score Basis:

Diversification Score

High Concentration (> 50%)

68 / 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

53.8%

Focused

Effective Holdings

~29

of 47 holdings

Top Sector

21.7%

Technology

Top Region / Country

25.2%

Denmark

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

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	—	—	—	+22.7%
3 Years	23.8%	-23.8%	0.37	—
5 Years	—	—	—	—
10 Years	—	—	—	—

🟢 Favorable / fair valuation: Avg P/E of 18.5

Solid fund volume

🟢 High institutional analyst coverage (21.8 analysts)

⚠️ Elevated top 10 holdings concentration: 54% of fund in top 10 positions.

🔴 Growth estimates are hyper-concentrated: Top 3 growth drivers account for 66% of total forward growth.

⚠️ Elevated Regulatory & Policy Risk: 54% in heavily regulated industries (defense, regulated utilities, healthcare policy).