EU stocks

Asset Allocation

Position	Category/Sector	Target Weight
AIL.DE Air Liquide SA	Basic Materials	8%
AIR.DE Airbus SE	Industrials	8%
BEI.DE Beiersdorf Aktiengesellschaft	Consumer Defensive	7%
HNR1.DE Hannover Rück SE	Financial Services	11%
HO.PA Thales S.A.	Industrials	6%
ITX.MC Industria de Diseno Textil SA	Consumer Cyclical	7%
MUV2.DE Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München	Financial Services	11%
REL.L RELX PLC	Communication Services	11%
SLHN.SW Swiss Life Holding AG	Financial Services	7%
SU.PA Schneider Electric S.E.	Industrials	6%
WKL.AS Wolters Kluwer N.V.	Communication Services	11%
ZURN.SW Zurich Insurance Group AG	Financial Services	7%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in EU stocks, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.

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The earliest data available for this chart is May 23, 2001, corresponding to the inception date of ITX.MC

Returns By Period

As of Apr 4, 2026, the EU stocks returned -8.40% Year-To-Date and 14.41% of annualized return in the last 10 years.

	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	0.11%	-4.18%	-3.84%	-1.98%	21.98%	16.86%	10.37%	12.29%
Portfolio EU stocks	-0.31%	-1.07%	-8.40%	-10.63%	-5.92%	14.20%	13.90%	14.41%
Portfolio components:
HNR1.DE Hannover Rück SE	0.76%	6.44%	-0.44%	3.17%	3.94%	21.28%	14.79%	14.66%
MUV2.DE Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München	0.41%	1.11%	-4.78%	-2.97%	-0.19%	26.17%	19.57%	16.88%
REL.L RELX PLC	0.75%	-2.20%	-17.83%	-28.28%	-34.00%	3.02%	7.79%	8.46%
WKL.AS Wolters Kluwer N.V.	-0.07%	-4.33%	-27.35%	-42.81%	-51.79%	-14.54%	-1.42%	8.55%
AIL.DE Air Liquide SA	-0.06%	3.80%	10.40%	3.30%	10.01%	12.94%	10.89%	13.29%
AIR.DE Airbus SE	-2.11%	-7.62%	-18.15%	-20.30%	11.51%	13.81%	11.52%	13.27%
BEI.DE Beiersdorf Aktiengesellschaft	-1.17%	-10.51%	-20.79%	-17.99%	-34.18%	-12.32%	-3.19%	0.46%
ITX.MC Industria de Diseno Textil SA	-1.52%	-5.40%	-11.41%	5.04%	20.91%	25.23%	15.83%	9.07%
SLHN.SW Swiss Life Holding AG	-0.17%	2.56%	-4.42%	3.27%	23.28%	27.91%	22.86%	20.56%
ZURN.SW Zurich Insurance Group AG	-0.01%	2.26%	-5.89%	0.07%	6.62%	20.68%	16.59%	18.79%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Jun 15, 2007, EU stocks's average daily return is +0.05%, while the average monthly return is +1.07%. At this rate, your investment would double in approximately 5.4 years.

Historically, 61% of months were positive and 39% were negative. The best month was Nov 2020 with a return of +20.7%, while the worst month was Oct 2008 at -19.3%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 7 months.

On a daily basis, EU stocks closed higher 53% of trading days. The best single day was Oct 29, 2008 with a return of +10.9%, while the worst single day was Mar 12, 2020 at -13.6%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	-4.01%	3.02%	-8.96%	1.74%									-8.40%
2025	6.80%	1.02%	5.59%	7.37%	2.68%	-0.07%	-3.39%	-3.25%	4.28%	-3.18%	-2.22%	3.43%	19.77%
2024	1.08%	5.33%	3.91%	-4.77%	6.43%	-0.67%	1.64%	4.98%	1.52%	-3.29%	-0.37%	-2.93%	12.84%
2023	7.75%	0.43%	4.72%	6.17%	-4.61%	5.89%	0.76%	-0.79%	-1.24%	1.17%	8.65%	3.33%	36.27%
2022	-1.40%	-1.87%	0.73%	-4.50%	0.48%	-6.99%	4.80%	-4.34%	-4.65%	9.77%	9.95%	1.03%	1.38%
2021	-3.92%	2.66%	4.78%	3.72%	3.12%	-1.45%	3.83%	3.56%	-5.06%	2.79%	-3.29%	6.33%	17.55%

Benchmark Metrics

EU stocks has an annualized alpha of 8.00%, beta of 0.59, and R² of 0.31 versus S&P 500 Index. Calculated based on daily prices since June 15, 2007.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (96.74%) than losses (80.63%) — typical of diversified or defensive assets.
Beta of 0.59 may look defensive, but with R² of 0.31 this portfolio is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this portfolio's risk.
R² of 0.31 means the benchmark explains less than half of this portfolio's behavior — treat beta with caution or consider switching to a more representative benchmark.

Alpha: 8.00%

Beta: 0.59

R²: 0.31

Upside Capture: 96.74%

Downside Capture: 80.63%

Expense Ratio

EU stocks has an expense ratio of 0.00%, meaning no management fees are charged. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

The portfolio doesn't include any funds that charge management fees.

Return for Risk

Risk / Return Rank

EU stocks ranks 4 for risk / return — in the bottom 4% of portfolios on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

	Portfolio	Benchmark	Difference
Sharpe ratio Return per unit of total volatility	-0.27	0.88	-1.15
Sortino ratio Return per unit of downside risk	-0.24	1.37	-1.61
Omega ratio Gain probability vs. loss probability	0.97	1.21	-0.24
Calmar ratio Return relative to maximum drawdown	0.08	1.39	-1.31
Martin ratio Return relative to average drawdown	0.18	6.43	-6.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.

	Risk / Return Rank	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
HNR1.DE Hannover Rück SE	44	0.25	0.51	1.07	0.27	0.51
MUV2.DE Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München	37	0.07	0.27	1.04	-0.01	-0.02
REL.L RELX PLC	8	-1.03	-1.37	0.81	-0.67	-1.46
WKL.AS Wolters Kluwer N.V.	5	-1.58	-2.52	0.68	-0.78	-1.34
AIL.DE Air Liquide SA	52	0.46	0.80	1.10	0.64	1.30
AIR.DE Airbus SE	49	0.35	0.66	1.08	0.40	1.30
BEI.DE Beiersdorf Aktiengesellschaft	6	-1.02	-1.21	0.80	-0.83	-1.63
ITX.MC Industria de Diseno Textil SA	66	0.77	1.29	1.16	1.81	4.34
SLHN.SW Swiss Life Holding AG	74	1.14	1.60	1.24	2.08	5.24
ZURN.SW Zurich Insurance Group AG	49	0.32	0.57	1.09	0.55	1.40

Sharpe Ratio

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

EU stocks Sharpe ratios as of Apr 4, 2026 (values are recalculated daily):

1-Year: -0.27
5-Year: 0.81
10-Year: 0.79
All Time: 0.55

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

Compared to the broad market, where average Sharpe ratios range from 0.99 to 1.69, this portfolio's current Sharpe ratio places it in the bottom 25%. This suggests weaker risk-adjusted returns than most portfolios, possibly due to lower returns, higher volatility, or both. It may be worth reviewing the allocation. You can use the Portfolio Optimization tool to explore options for improving the Sharpe ratio.

The chart below shows the rolling Sharpe ratio of EU stocks compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Dividends

Dividend yield

EU stocks provided a 2.88% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	2.88%	2.66%	2.47%	2.47%	2.73%	2.31%	2.82%	2.47%	3.09%	2.92%	2.96%	2.93%
Portfolio components:
HNR1.DE Hannover Rück SE	3.34%	3.38%	2.98%	2.77%	3.10%	2.69%	4.22%	3.05%	4.25%	4.77%	4.62%	4.02%
MUV2.DE Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München	3.67%	3.56%	3.08%	3.09%	3.62%	3.76%	4.04%	3.52%	4.51%	4.76%	4.59%	4.20%
REL.L RELX PLC	2.55%	2.13%	1.65%	1.80%	2.24%	1.99%	2.55%	2.27%	2.48%	2.15%	2.25%	2.21%
WKL.AS Wolters Kluwer N.V.	3.72%	2.75%	1.37%	1.48%	1.70%	1.38%	1.82%	1.58%	1.92%	1.84%	2.21%	2.87%
AIL.DE Air Liquide SA	1.83%	2.06%	1.88%	1.67%	1.97%	1.79%	2.00%	1.90%	2.49%	2.24%	2.49%	2.49%
AIR.DE Airbus SE	1.82%	1.51%	1.81%	1.28%	1.35%	0.00%	1.97%	1.25%	1.80%	1.61%	2.07%	1.91%
BEI.DE Beiersdorf Aktiengesellschaft	1.32%	1.07%	0.81%	0.52%	0.65%	0.77%	0.74%	0.66%	0.77%	0.72%	0.87%	0.83%
ITX.MC Industria de Diseno Textil SA	3.31%	2.98%	3.10%	3.04%	3.74%	2.45%	2.69%	2.80%	3.36%	2.34%	1.85%	1.64%
SLHN.SW Swiss Life Holding AG	3.96%	3.82%	4.72%	5.14%	5.24%	3.76%	4.85%	2.88%	3.57%	3.19%	2.95%	2.40%
ZURN.SW Zurich Insurance Group AG	4.91%	4.65%	4.83%	5.46%	4.97%	5.00%	5.35%	4.78%	6.14%	5.73%	6.06%	6.58%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the EU stocks. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the EU stocks was 52.33%, occurring on Mar 9, 2009. Recovery took 491 trading sessions.

The current EU stocks drawdown is 13.79%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-52.33%	Dec 11, 2007	317	Mar 9, 2009	491	Feb 1, 2011	808
-36.8%	Feb 20, 2020	20	Mar 18, 2020	177	Nov 24, 2020	197
-26.11%	May 3, 2011	104	Sep 23, 2011	246	Sep 6, 2012	350
-21.18%	Jan 13, 2022	182	Sep 27, 2022	47	Dec 1, 2022	229
-17.68%	Jun 5, 2025	209	Mar 27, 2026	—	—	—

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 12 assets, with an effective number of assets of 11.36, reflecting the diversification based on asset allocation. This number of effective assets suggests that the portfolio's investments are spread across a variety of assets, indicating a well-diversified allocation. However, true diversification also depends on the correlations between assets.

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

	Benchmark	BEI.DE	HO.PA	AIR.DE	REL.L	ITX.MC	WKL.AS	AIL.DE	SLHN.SW	HNR1.DE	ZURN.SW	SU.PA	MUV2.DE	Portfolio
Benchmark	1.00	0.32	0.31	0.40	0.38	0.38	0.37	0.37	0.35	0.36	0.36	0.48	0.39	0.50
BEI.DE	0.32	1.00	0.38	0.36	0.43	0.44	0.47	0.48	0.37	0.43	0.42	0.44	0.46	0.61
HO.PA	0.31	0.38	1.00	0.51	0.41	0.40	0.43	0.43	0.44	0.44	0.43	0.46	0.46	0.63
AIR.DE	0.40	0.36	0.51	1.00	0.42	0.46	0.40	0.44	0.46	0.44	0.46	0.54	0.49	0.69
REL.L	0.38	0.43	0.41	0.42	1.00	0.42	0.66	0.47	0.41	0.44	0.44	0.49	0.44	0.69
ITX.MC	0.38	0.44	0.40	0.46	0.42	1.00	0.45	0.50	0.46	0.47	0.49	0.56	0.50	0.68
WKL.AS	0.37	0.47	0.43	0.40	0.66	0.45	1.00	0.51	0.43	0.46	0.44	0.51	0.48	0.72
AIL.DE	0.37	0.48	0.43	0.44	0.47	0.50	0.51	1.00	0.50	0.50	0.52	0.60	0.55	0.72
SLHN.SW	0.35	0.37	0.44	0.46	0.41	0.46	0.43	0.50	1.00	0.59	0.71	0.53	0.63	0.72
HNR1.DE	0.36	0.43	0.44	0.44	0.44	0.47	0.46	0.50	0.59	1.00	0.61	0.51	0.75	0.76
ZURN.SW	0.36	0.42	0.43	0.46	0.44	0.49	0.44	0.52	0.71	0.61	1.00	0.52	0.66	0.74
SU.PA	0.48	0.44	0.46	0.54	0.49	0.56	0.51	0.60	0.53	0.51	0.52	1.00	0.55	0.75
MUV2.DE	0.39	0.46	0.46	0.49	0.44	0.50	0.48	0.55	0.63	0.75	0.66	0.55	1.00	0.80
Portfolio	0.50	0.61	0.63	0.69	0.69	0.68	0.72	0.72	0.72	0.76	0.74	0.75	0.80	1.00

The correlation results are calculated based on daily price changes starting from Jun 15, 2007

EU stocks

Asset Allocation

Performance

Performance Chart

Returns By Period

Monthly Returns

Benchmark Metrics

Expense Ratio

Return for Risk

Risk / Return Rank

Return / Risk — by metrics

Sharpe ratio

Sortino ratio

Omega ratio

Calmar ratio

Martin ratio

Sharpe Ratio

Dividends

Dividend yield

Drawdowns

Drawdowns Chart

Worst Drawdowns

Volatility

Volatility Chart

Diversification

Diversification Metrics

Number of Effective Assets

Asset Correlations Table