Total return: distributions reinvested. In EUR, the currency of the share class shown. Fund history to 28.09.2026. Benchmark history to 28.09.2026. 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
1M
3M
6M
YTD
2025
2024
2023
1Y
3Y
5Y
Volatility
Sharpe R.
Max DD
FundISIN LU1685631241, currency EUR, retail share class
0.27
2.61
6.82
13.62
11.80
9.85
14.84
19.56
13.55
7.16
6.95
1.47
-3.99
BenchmarkSTOXX Europe 600 NR EUR
0.49
4.43
4.69
12.23
19.80
8.78
15.81
21.27
15.35
9.50
10.37
1.17
-7.66
Differencefund minus benchmark, in percentage points
-0.22
-1.82
2.12
1.39
-7.99
1.07
-0.97
-1.71
-1.81
-2.34
–
–
–
Within the list: OpenList — Alternatives
Compared with the alternative funds on OpenList — Alternatives (25 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 fund
Group median
Position
Return 1Y
19.56
9.40
3 of 25
Return 3Y p.a.
13.55
11.35
8 of 25
3Y p.a. over its own benchmark
-1.81
2.46
25 of 25
Volatility 3Y
6.95
5.42
20 of 25
Sharpe ratio 3Y
1.47
1.34
6 of 25
Max drawdown 3Y
-3.99
-3.40
18 of 25
Management fee
0.60%
1.01%
5 of 23 (2 without a value)
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
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 is an equity fund designed to provide capital growth through exposure to European equities while aiming to reduce volatility through a systematic options strategy. It is classified as risk category 3 out of 7, described as a medium-low risk class, with a recommended investment horizon of 5 years. The product is intended for investors who may have no specific financial expertise, seek capital growth, and can bear a total capital loss. Its distinct role is as a defensive European equity allocation that combines factor-based stock selection with options-based risk reduction, which makes it more specialised than a plain long-only equity fund.
Investment strategy
The fund’s objective is to provide capital growth by being exposed to a basket of European equities, taking non-financial criteria into account, and by implementing a systematic options strategy intended to reduce risk by minimising volatility. It is a UCITS sub-fund using a synthetic replication policy through OTC derivatives, and it always invests at least 75% of net assets in equities issued by companies with their registered office in a Member State of the European Economic Area. The equity allocation is implemented via the BNP Paribas Dynamic Equity Factors Europe ESG Index, while the complementary options strategy uses long put options and short call options on one or several main European equity indices, together with a dynamic allocation between those indices and the optimal portfolio. The strategy is active and the fund has no benchmark for performance comparison; income is systematically reinvested and the recommended holding period is 5 years.
Investment philosophy
• The investment universe starts with a broad and representative basket of European stocks called the Benchmark Portfolio, from which the strategy identifies an Optimal Portfolio.
• Stock selection follows a systematic and quantitative factor approach using several fundamental indicators to focus on investment styles including value, quality, momentum and low-volatility; examples given are attractive valuation for value, proven business model for quality, positive trend for momentum and steady pace for low-volatility.
• Portfolio construction uses an optimisation algorithm subject especially to constraints including sector diversification, liquidity, and performance correlated to that of the European reference market; the resulting Optimal Portfolio is implemented through the BNP Paribas Dynamic Equity Factors Europe ESG Index and rebalanced monthly.
• A complementary systematic options strategy seeks to improve the risk/return ratio by buying put options on one or several main European equity indices, applying a take-profit mechanism on those puts, and financing this as far as possible by selling call options on the same indices.
• As of 31.08.2026, the portfolio held 26 positions, with the largest holdings including Allianz (8.69%), Nokia (8.68%), ASML Holding (8.35%), Ageas (8.06%), Deutsche Bank AG N (4.42%), UCB SA (4.37%), argenx (4.37%), Koninklijke KPN NV (4.17%), ING Groep (4.14%) and DHL N AG N (4.04%).
Management team
The named fund manager is Fabrice RICCI.
The asset manager
The management company is BNP PARIBAS ASSET MANAGEMENT Europe, and the product manufacturer named in the key information document is BNP PARIBAS ASSET MANAGEMENT Europe. The fund is part of THEAM QUANT-, a Luxembourg-domiciled SICAV. The documents state that BNPP AM Europe is authorised in France and regulated by the Autorité des marchés financiers, while the product is authorised in Luxembourg and supervised in relation to the KID by the CSSF. The documentation is produced by BNP Paribas Group and/or one of its entities.
Strengths
The fund combines two distinct return pillars: a quantitative European equity factor portfolio and a systematic options overlay designed to reduce volatility. Its defensive structure is specific, using long puts, short calls and dynamic allocation between European equity indices and the factor-selected portfolio rather than relying on simple equity exposure alone. The fund also integrates non-financial criteria through implementation via the BNP Paribas Dynamic Equity Factors Europe ESG Index and is classified under SFDR Article 8. Daily NAV calculation, daily dealing, and no redemption fee are operational features stated in the documents.
Risks
The fund is classified in risk category 3 out of 7, described as medium-low risk, with the category justified by investment in an equity strategy that aims to reduce the risk and volatility induced by equities. Specific additional risks named are counterparty risk linked to OTC financial transactions and risks linked to the use of financial derivative instruments, both of which may affect the net asset value. These risks stem from the fund’s synthetic replication policy through OTC derivatives and its systematic use of options on European equity indices.
WSP report
Ask WSP which research is available for this fund and what it covers.
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. – 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
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 is an equity fund designed to provide capital growth through exposure to European equities while aiming to reduce volatility through a systematic options strategy. It is classified as risk category 3 out of 7, described as a medium-low risk class, with a recommended investment horizon of 5 years. The product is intended for investors who may have no specific financial expertise, seek capital growth, and can bear a total capital loss. Its distinct role is as a defensive European equity allocation that combines factor-based stock selection with options-based risk reduction, which makes it more specialised than a plain long-only equity fund.
Investment strategy
The fund’s objective is to provide capital growth by being exposed to a basket of European equities, taking non-financial criteria into account, and by implementing a systematic options strategy intended to reduce risk by minimising volatility. It is a UCITS sub-fund using a synthetic replication policy through OTC derivatives, and it always invests at least 75% of net assets in equities issued by companies with their registered office in a Member State of the European Economic Area. The equity allocation is implemented via the BNP Paribas Dynamic Equity Factors Europe ESG Index, while the complementary options strategy uses long put options and short call options on one or several main European equity indices, together with a dynamic allocation between those indices and the optimal portfolio. The strategy is active and the fund has no benchmark for performance comparison; income is systematically reinvested and the recommended holding period is 5 years.
Investment philosophy
• The investment universe starts with a broad and representative basket of European stocks called the Benchmark Portfolio, from which the strategy identifies an Optimal Portfolio.
• Stock selection follows a systematic and quantitative factor approach using several fundamental indicators to focus on investment styles including value, quality, momentum and low-volatility; examples given are attractive valuation for value, proven business model for quality, positive trend for momentum and steady pace for low-volatility.
• Portfolio construction uses an optimisation algorithm subject especially to constraints including sector diversification, liquidity, and performance correlated to that of the European reference market; the resulting Optimal Portfolio is implemented through the BNP Paribas Dynamic Equity Factors Europe ESG Index and rebalanced monthly.
• A complementary systematic options strategy seeks to improve the risk/return ratio by buying put options on one or several main European equity indices, applying a take-profit mechanism on those puts, and financing this as far as possible by selling call options on the same indices.
• As of 31.08.2026, the portfolio held 26 positions, with the largest holdings including Allianz (8.69%), Nokia (8.68%), ASML Holding (8.35%), Ageas (8.06%), Deutsche Bank AG N (4.42%), UCB SA (4.37%), argenx (4.37%), Koninklijke KPN NV (4.17%), ING Groep (4.14%) and DHL N AG N (4.04%).
Management team
The named fund manager is Fabrice RICCI.
The asset manager
The management company is BNP PARIBAS ASSET MANAGEMENT Europe, and the product manufacturer named in the key information document is BNP PARIBAS ASSET MANAGEMENT Europe. The fund is part of THEAM QUANT-, a Luxembourg-domiciled SICAV. The documents state that BNPP AM Europe is authorised in France and regulated by the Autorité des marchés financiers, while the product is authorised in Luxembourg and supervised in relation to the KID by the CSSF. The documentation is produced by BNP Paribas Group and/or one of its entities.
Strengths
The fund combines two distinct return pillars: a quantitative European equity factor portfolio and a systematic options overlay designed to reduce volatility. Its defensive structure is specific, using long puts, short calls and dynamic allocation between European equity indices and the factor-selected portfolio rather than relying on simple equity exposure alone. The fund also integrates non-financial criteria through implementation via the BNP Paribas Dynamic Equity Factors Europe ESG Index and is classified under SFDR Article 8. Daily NAV calculation, daily dealing, and no redemption fee are operational features stated in the documents.
Risks
The fund is classified in risk category 3 out of 7, described as medium-low risk, with the category justified by investment in an equity strategy that aims to reduce the risk and volatility induced by equities. Specific additional risks named are counterparty risk linked to OTC financial transactions and risks linked to the use of financial derivative instruments, both of which may affect the net asset value. These risks stem from the fund’s synthetic replication policy through OTC derivatives and its systematic use of options on European equity indices.