Strategy
The strategy aims to generate consistent alpha through the systematic use of implied volatility premiums in addition to the performance of the underlying short term investment grade bond portfolio.
Portfolio
The composition of the diversified portfolio consists of short term investment grade bonds including a systematic forex volalitity overlay.
Volatility Overlay
The strategy is derived from G10 forex volatilities. The non-correlation between currencies offers a unique advantage of diversification. The quantitative investment process and integrated risk management approach results in an attractive risk-adjusted return profile.
Data Update: February 2025
At a Glance
| ISIN | DE000A2ARN14 |
| Ticker | EMCCOPA GR |
| WKN | A2ARN1 |
| Fund Domicile | Germany |
| Fund Inception Date | 21.10.2016 |
| Fund / ShareClass CCY | EUR / EUR |
| Distribution | Accumulating |
| Fiscal Year End | 31.08. |
| Liquidity / Cut Off | Daily, 16:00 CET |
| Investment Manager | EMCORE AG, Liechtenstein |
| Administrator | Universal-Investment-Gesellschaft mbH |
| Custodian | BNP Paribas Securities Services S.C.A. |
| Management Fee | 0.95% |
| Performance Fee | - |
| Administration, Custodian and Other Fees (exp.)* |
0.13% |
| TER without Perf Fee (exp.)* | 1.23% |
*) The ongoing costs can fluctuate from year to year based on fund size and transactions
Key Figures
| Return since Inception | 18.97% |
| Return p.a. | 2.04% |
| Volatility | 7.77% |
| Maximum Drawdown | -11.68% |
Portfolio Key Data
| Cash | Bonds | Equities | Options | Futures | |
|---|---|---|---|---|---|
| Weighting | 5.86% | 98.93% | - | -4.79% | - |
| Credit Quality | - | AA | - | - | - |
| Days to Expiration | - | - | - | 99.32 | - |
| Yield to Maturity | - | 2.17% | - | - | - |
| Duration | - | 1.96 | - | - | - |
| Portfolio Vega | - | - | - | -1'083'230 | - |
| Portfolio Theta | - | - | - | 57'732 | - |
Monthly Performance
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 1.24% | 0.84% | -2.47% | -2.26% | - | - | - | - | - | - | - | - | -2.67% |
| 2024 | 2.27% | 0.66% | 0.51% | 0.05% | 0.88% | 1.11% | 0.11% | 0.47% | 1.68% | 1.18% | 1.02% | 0.03% | 10.42% |
| 2023 | 0.47% | 3.80% | 0.69% | -0.37% | 2.45% | -1.98% | -0.09% | 1.79% | 2.08% | 1.05% | 0.04% | 1.06% | 11.42% |
| 2022 | -0.26% | 0.33% | -1.11% | -2.57% | 1.36% | -2.77% | 0.72% | -1.88% | -8.09% | 4.96% | 3.73% | 0.30% | -5.74% |
| 2021 | 0.43% | -1.19% | -1.02% | 0.81% | -0.09% | 1.54% | 0.13% | 0.37% | 0.10% | -0.78% | -0.38% | 2.08% | 1.96% |
| 2020 | -0.12% | -1.32% | -6.57% | 2.62% | 0.33% | 0.33% | -0.63% | -0.43% | 2.04% | 0.63% | 0.63% | 0.22% | -2.53% |
| 2019 | 1.13% | 0.21% | 0.05% | 0.13% | -0.22% | 0.27% | 0.37% | -0.45% | 0.18% | 0.39% | 0.21% | -0.09% | 2.20% |
| 2018 | -0.74% | 0.69% | -0.46% | -0.25% | -0.54% | 0.37% | 0.91% | -1.37% | 0.73% | 0.44% | -0.43% | -0.25% | -0.92% |
| 2017 | -0.02% | 2.03% | -0.06% | 0.54% | -0.16% | -0.17% | -0.57% | -0.68% | 1.34% | 0.32% | -0.36% | 0.45% | 2.66% |
| 2016 | - | - | - | - | - | - | - | - | - | 0.00% | 0.74% | 1.28% | 2.03% |
Ratings
Maturity
Sector Bonds
Country Issuer
Share Classes Overview
| EMCORE COP | Factsheets | ||
|---|---|---|---|
| EMCORE COP T | EUR | DE000A2ARN14 | ENG DEU |
| EMCORE COP Q | CHF | DE000A2H7NW7 | ENG DEU |