Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
ASML ASML Holding N.V. | Technology | 30% |
GTT.PA Gaztransport & Technigaz SAS | Energy | 30% |
HESAY Hermes International SA | Consumer Cyclical | 20% |
SAF.PA Safran SA | Industrials | 20% |
Performance
Performance Chart
The chart shows the growth of an initial investment of €10,000 in Charlie Munger EU, 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 year.
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The earliest data available for this chart is Feb 27, 2014, corresponding to the inception date of GTT.PA
Returns By Period
As of Apr 4, 2026, the Charlie Munger EU returned 11.80% Year-To-Date and 26.74% of annualized return in the last 10 years.
| 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.52% | -3.08% | -2.14% | -0.28% | 23.19% | 14.66% | 10.81% | 12.14% |
Portfolio Charlie Munger EU | -0.92% | -3.21% | 11.80% | 12.83% | 48.59% | 23.39% | 22.46% | 26.74% |
| Portfolio components: | ||||||||
SAF.PA Safran SA | -1.14% | -9.17% | -3.40% | -5.21% | 33.09% | 29.81% | 20.09% | 18.10% |
HESAY Hermes International SA | -0.18% | -12.65% | -20.92% | -22.81% | -25.13% | -2.81% | 12.56% | 19.36% |
ASML ASML Holding N.V. | -2.73% | -3.19% | 25.46% | 30.23% | 108.87% | 23.93% | 17.30% | 30.37% |
GTT.PA Gaztransport & Technigaz SAS | 0.69% | 4.73% | 30.01% | 32.28% | 64.63% | 34.66% | 29.56% | 28.17% |
Monthly Returns
Based on dividend-adjusted daily data since Feb 28, 2014, Charlie Munger EU's average daily return is +0.09%, while the average monthly return is +1.86%. At this rate, your investment would double in approximately 3.1 years.
Historically, 65% of months were positive and 35% were negative. The best month was Jul 2022 with a return of +16.9%, while the worst month was Mar 2020 at -13.6%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, Charlie Munger EU closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +9.2%, while the worst single day was Mar 18, 2020 at -12.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 13.76% | 5.12% | -7.16% | 0.70% | 11.80% | ||||||||
| 2025 | 12.61% | -0.27% | -7.29% | -0.93% | 10.25% | 3.20% | -3.35% | -0.91% | 8.52% | 7.08% | -1.42% | -1.74% | 26.50% |
| 2024 | 9.73% | 11.94% | 1.89% | -5.91% | 3.98% | -1.40% | -0.72% | -1.64% | -2.16% | -5.13% | 3.62% | 0.90% | 14.41% |
| 2023 | 12.66% | -1.58% | 3.32% | 0.15% | 2.91% | 1.88% | 5.15% | -2.69% | -3.91% | 1.83% | 7.46% | 2.20% | 32.27% |
| 2022 | -7.53% | 1.62% | 5.89% | -0.51% | 1.20% | -4.78% | 16.94% | -6.96% | -9.86% | 9.48% | 9.11% | -10.16% | 0.39% |
| 2021 | -1.14% | 3.71% | 4.24% | 5.35% | 2.20% | 3.22% | 4.10% | 3.31% | -6.03% | 10.40% | 2.81% | 2.58% | 39.72% |
Benchmark Metrics
Charlie Munger EU has an annualized alpha of 14.00%, beta of 0.71, and R² of 0.39 versus S&P 500 Index. Calculated based on daily prices since February 28, 2014.
- This portfolio captured 123.78% of S&P 500 Index gains but only 76.36% of its losses — a favorable profile for investors.
- R² of 0.39 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
- 14.00%
- Beta
- 0.71
- R²
- 0.39
- Upside Capture
- 123.78%
- Downside Capture
- 76.36%
Expense Ratio
Charlie Munger EU 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.
Return for Risk
Risk / Return Rank
Charlie Munger EU ranks 77 for risk / return — better than 77% of portfolios on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.63 | 0.43 | +1.20 |
Sortino ratioReturn per unit of downside risk | 2.21 | 0.73 | +1.48 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.12 | +0.19 |
Calmar ratioReturn relative to maximum drawdown | 4.11 | 0.64 | +3.47 |
Martin ratioReturn relative to average drawdown | 12.68 | 2.67 | +10.02 |
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 | |
|---|---|---|---|---|---|---|
SAF.PA Safran SA | 67 | 0.65 | 1.05 | 1.14 | 2.11 | 8.44 |
HESAY Hermes International SA | 6 | -1.01 | -1.42 | 0.83 | -0.80 | -1.72 |
ASML ASML Holding N.V. | 89 | 2.03 | 2.62 | 1.34 | 5.33 | 13.25 |
GTT.PA Gaztransport & Technigaz SAS | 89 | 1.99 | 2.74 | 1.35 | 4.85 | 12.33 |
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Dividends
Dividend yield
Charlie Munger EU provided a 1.90% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 1.90% | 2.22% | 2.17% | 1.41% | 1.57% | 1.44% | 1.85% | 1.98% | 1.96% | 2.29% | 3.03% | 3.01% |
| Portfolio components: | ||||||||||||
SAF.PA Safran SA | 1.01% | 0.98% | 1.04% | 0.85% | 0.43% | 0.40% | 0.00% | 1.32% | 1.53% | 0.97% | 2.15% | 1.96% |
HESAY Hermes International SA | 1.63% | 1.18% | 1.13% | 0.67% | 0.57% | 0.31% | 0.46% | 0.68% | 0.91% | 1.55% | 1.81% | 2.54% |
ASML ASML Holding N.V. | 0.71% | 0.97% | 0.97% | 0.86% | 1.27% | 0.50% | 0.50% | 1.40% | 0.94% | 0.64% | 0.92% | 0.73% |
GTT.PA Gaztransport & Technigaz SAS | 3.85% | 5.00% | 4.81% | 2.84% | 3.31% | 3.82% | 5.37% | 3.85% | 3.96% | 5.31% | 6.55% | 6.31% |
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 Charlie Munger EU. 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 Charlie Munger EU was 44.26%, occurring on Mar 18, 2020. Recovery took 167 trading sessions.
The current Charlie Munger EU drawdown is 8.21%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -44.26% | Feb 14, 2020 | 24 | Mar 18, 2020 | 167 | Nov 9, 2020 | 191 |
| -35.49% | May 28, 2015 | 184 | Feb 11, 2016 | 227 | Dec 28, 2016 | 411 |
| -20.39% | Feb 25, 2025 | 30 | Apr 7, 2025 | 55 | Jun 24, 2025 | 85 |
| -18.71% | Aug 19, 2022 | 27 | Sep 26, 2022 | 87 | Jan 26, 2023 | 114 |
| -17.16% | Mar 8, 2024 | 130 | Sep 6, 2024 | 96 | Jan 22, 2025 | 226 |
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 4 assets, with an effective number of assets of 3.85, reflecting the diversification based on asset allocation. This number of effective assets suggests a highly concentrated portfolio, where a few assets dominate the allocation, potentially increasing the portfolio's risk due to lack of diversification.
Asset Correlations Table
| Benchmark | GTT.PA | SAF.PA | HESAY | ASML | Portfolio | |
|---|---|---|---|---|---|---|
| Benchmark | 1.00 | 0.21 | 0.33 | 0.38 | 0.62 | 0.58 |
| GTT.PA | 0.21 | 1.00 | 0.27 | 0.16 | 0.17 | 0.61 |
| SAF.PA | 0.33 | 0.27 | 1.00 | 0.29 | 0.29 | 0.57 |
| HESAY | 0.38 | 0.16 | 0.29 | 1.00 | 0.40 | 0.58 |
| ASML | 0.62 | 0.17 | 0.29 | 0.40 | 1.00 | 0.75 |
| Portfolio | 0.58 | 0.61 | 0.57 | 0.58 | 0.75 | 1.00 |