OpenList — Active ETFs

Amundi Multi-Asset Portfolio Defensive UCITS ETF

Mixed Allocation · Global · Dynamic Allocation

Figures refer to the share class ISIN DE000ETF7029, currency EUR, retail share class.

Fund documents

For the share class shown above.

Factsheet (PDF, 31.08.2026)KID (PDF, 16.04.2026)

Key facts

Management company
Amundi Luxembourg S.A.
Asset class
Mixed Allocation
Geography
Global
Strategy
Dynamic Allocation
Share class currency
EUR
Share class inception
07.03.2018
Fund size
77 million (as at 14.09.2026)
Management fee
0.40%
Performance fee
No
Liquidity
Not available in this publication
UCITS
Yes
Risk grade (SRRI)
Not available in this publication
Registered in Switzerland
Yes

Price history

Rebased to 100 at 30.09.2021.

9010011012020222023202420252026123.1Fund (share class shown)9010011012020222023202420252026123.1Fund (share class shown)
Table view
PeriodFromFund (100 at start)
1Y03.10.2025106.6
3Y31.10.2023133.9
5Y30.09.2021123.1
Since 201814.03.2018146.0

Exchange closing price of the ETF, not its NAV; distributions not reinvested.
In EUR, the currency of the share class shown.
Benchmark line not shown: price history held back: source clearance pending.
Fund history to 30.09.2026.
Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.

Performance against the benchmark

012YTD: Fund 6.84%YTD: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 7.15%YTD1Y: Fund 12.71%1Y: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 11.15%1Y3Y p.a.: Fund 10.58%3Y p.a.: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 9.91%3Y p.a.5Y p.a.: Fund 5.36%5Y p.a.: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 4.80%5Y p.a.2025: Fund 10.80%2025: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 5.44%20252024: Fund 10.69%2024: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 12.98%20242023: Fund 8.99%2023: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 11.24%2023Fund (share class shown)BenchmarkYTDYTD: Fund 6.84%6.84YTD: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 7.15%7.151Y1Y: Fund 12.71%12.711Y: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 11.15%11.153Y p.a.3Y p.a.: Fund 10.58%10.583Y p.a.: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 9.91%9.915Y p.a.5Y p.a.: Fund 5.36%5.365Y p.a.: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 4.80%4.8020252025: Fund 10.80%10.802025: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 5.44%5.4420242024: Fund 10.69%10.692024: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 12.98%12.9820232023: Fund 8.99%8.992023: Balanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh 11.24%11.24Fund (share class shown)Benchmark
1M3M6MYTD2025202420231Y3Y5YVolatilitySharpe R.Max DD
FundISIN DE000ETF7029, currency EUR, retail share class1.510.821.276.8410.8010.698.9912.7110.585.365.541.35-4.88
BenchmarkBalanced EUR - 50% MSCI ACWorld NR + 50% BarCap Aggr TR EURh0.830.734.487.155.4412.9811.2411.159.914.806.941.00-5.65
Differencefund minus benchmark, in percentage points0.680.09-3.21-0.315.35-2.30-2.251.560.670.56–––

Within the list: OpenList — Active ETFs

Compared with the mixed allocation funds on OpenList — Active ETFs (6 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.

This fundGroup medianPosition
Return 1Y12.7113.774 of 6
Return 3Y p.a.10.5810.884 of 6
3Y p.a. over its own benchmark0.670.944 of 6
Volatility 3Y5.546.313 of 6
Sharpe ratio 3Y1.351.101 of 6
Max drawdown 3Y-4.88-5.453 of 6
Management fee0.40%0.43%2 of 6

Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.

Return against risk, 3 years

016Return 3Y p.a. (%)Volatility 3Y (%)010Xtrackers Portfolio Income UCITS ETF: volatility 4.59%, return 6.65% p.a.Amundi Multi-Asset Portfolio UCITS ETF: volatility 7.09%, return 11.81% p.a.Amundi Multi-Asset Portfolio Offensive UCITS ETF: volatility 9.23%, return 15.03% p.a.Xtrackers Portfolio UCITS ETF: volatility 8.37%, return 11.18% p.a.iShares Conservative Portfolio UCITS ETF: volatility 4.68%, return 4.99% p.a.Amundi Multi-Asset Portfolio Defensive UCITS ETF: volatility 5.54%, return 10.58% p.a.This fund016Return 3Y p.a. (%)Volatility 3Y (%)010Xtrackers Portfolio Income UCITS ETF: volatility 4.59%, return 6.65% p.a.Amundi Multi-Asset Portfolio UCITS ETF: volatility 7.09%, return 11.81% p.a.Amundi Multi-Asset Portfolio Offensive UCITS ETF: volatility 9.23%, return 15.03% p.a.Xtrackers Portfolio UCITS ETF: volatility 8.37%, return 11.18% p.a.iShares Conservative Portfolio UCITS ETF: volatility 4.68%, return 4.99% p.a.Amundi Multi-Asset Portfolio Defensive UCITS ETF: volatility 5.54%, return 10.58% p.a.This fund

WSP commentary

Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.

Investment rationale

This fund is a diversified multi-asset UCITS ETF designed to deliver long-term value growth through a broad allocation across equities, bonds, money-market instruments and gold-related exposure. With a PRIIPs summary risk indicator of 3 on a 1-7 scale and a recommended holding period of 5 years, it is positioned as a medium-term, lower-risk portfolio building block rather than a pure growth allocation. The target investor is described as a retail investor with basic knowledge and no or limited fund experience who can bear losses up to the amount invested. Its distinct role comes from combining ETF liquidity and low stated ongoing costs with a rules-based defensive allocation of 50% bonds and money-market instruments, 40% equities and 10% gold.

Investment strategy

The stated objective is to provide unit holders with long-term capital growth by investing in a broadly diversified portfolio of ETFs, with annual rebalancing back to target weights in March. The fund is an actively managed UCITS and is not benchmarked to any index; the factsheet also states that it is a fund not oriented to a benchmark. Its target allocation is 40% equities, 50% bonds and 10% commodities/gold, with the equity sleeve split across North America, Asia-Pacific, Europe, German blue chips, emerging markets and German small caps, and the bond sleeve focused on European government bonds, German Pfandbriefe and euro money-market bonds. The portfolio may also use ETCs and other securities that track market-standard financial indices or interest rates, the share class is distributing, and the recommended holding period is 5 years.

Investment philosophy

• The fund is built as a rules-based multi-asset ETF portfolio that seeks broad diversification across asset classes, geographies, sectors and currencies rather than relying on discretionary market views.

• Its strategic allocation is fixed at 50% bonds and money-market instruments, 40% equities and 10% gold/commodity exposure, with the equity bucket spread across North America, Europe, Asia-Pacific, Germany and emerging markets.

• The bond allocation is concentrated in European government bonds, German Pfandbriefe and euro money-market instruments, while the commodity sleeve can be implemented through ETCs such as Xetra-Gold and other commodity-index-linked exposures.

• Rebalancing is carried out annually in March to restore the original weights, and an additional intra-year rebalance may take place if the equity allocation moves more than 5 percentage points above or below target.

• As of 31/08/2026, the largest disclosed positions included iShares Pfandbriefe ETF DE, Amundi Core S&P 500 Swap ETF USD Dist, Amundi STOXX Europe 600 UCITS ETF, Amundi Smart Overnight Return ETF, Amundi Euro Government Bond 1-3Y ETF, Amundi Prime Euro Govies, a gold ETC, Amundi MSCI Emerging Markets II ETF, an Asia-Pacific ESG climate ETF, and Amundi DAX UCITS ETF.

The asset manager

The management company is Amundi Luxembourg S.A., and the factsheet names Amundi Luxembourg SA as the Verwaltungsgesellschaft. The PRIIPs document states that Amundi Luxembourg S.A. is a member of the Amundi group and is authorised in Luxembourg under the supervision of the CSSF. The factsheet also includes corporate details for Amundi Asset Management, SAS, with headquarters at 91-93 Boulevard Pasteur, 75015 Paris, France, and notes AMF authorisation number GP 04000036.

Strengths

A distinguishing feature is the combination of a listed ETF wrapper with a diversified fund-of-ETFs structure, giving investors exchange trading, transparency and broad multi-asset exposure in one vehicle. The strategy is explicitly rules-based, with fixed strategic weights and annual rebalancing, rather than being driven by tactical market calls. Its defensive positioning is clearly defined through a 50% allocation to bonds and money-market instruments and a 10% allocation to gold or commodity-related exposure. Ongoing management and operating costs are stated at 0.37%, and the ETF is available for trading on Xetra and SIX in EUR and CHF.

Risks

The PRIIPs document classifies the fund in risk class 3 out of 7, described as a medium-low risk category, based on a 5-year holding assumption. Market liquidity risk is specifically named and may amplify performance fluctuations; the documents also note that under exceptional circumstances redemptions can be suspended or limited and dilution protection measures may be applied. Risk is driven by the fund’s exposure to international equities, European government bonds, German Pfandbriefe, money-market instruments and gold or commodity-linked ETCs, as well as by trading on the secondary market where investors may pay above or receive below net asset value.

WSP report

Ask WSP which research is available for this fund and what it covers.

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Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years.
Benchmark: each fund is measured against the index its own documents name. Where WSP measures a fund against a comparator of its own instead, the row names it: a tracker or a blend of the markets the fund invests in, or a cash-plus hurdle
– means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero.
Period figures as of 31.08.2026.

This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative