TNOW.PA - Risk

Risk & Diversification Scores

Transparent evaluation of price volatility (SRI) and 4-dimensional portfolio diversification.

Volatility Risk Score

6/7 High

6 / 7 SRI PRIIPs Risk Class

Very high volatility or fundamental risks. Significant loss potential; strictly for aggressive investors.

Volatility (5Y)

23.1% p.a.

5-Year Horizon

Max Drawdown (5Y)

-30.0%

Deepest Drawdown

Sharpe Ratio

0.81

Good (0.5 - 1.0)

Rec. Holding Period

10+ Years

Investment Horizon

Speculative / High Risk: Score Basis:

Diversification Score

High Concentration (> 50%)

74 / 100 Portfolio Diversification

4 Dimensions: Holdings (30%) • Sectors (25%) • Industries (25%) • Regions (20%)

High concentration risk: A few heavyweights drive the majority of fund value.

Top 10 Holdings

56.5%

Focused

Effective Holdings

~27

of 47 holdings

Top Sector

37.3%

Technology

Top Region / Country

99.8%

United States

Elevated concentration in top individual holdings, leading sectors, or key regions.

Multi-Horizon Risk & Performance Matrix

Historical volatility, drawdowns, and risk-adjusted return across 1, 3, 5, and 10 years.

Timeframe	Volatility (p.a.)	Max Drawdown	Sharpe Ratio	Return (p.a.)
1 Year	—	—	—	+35.5%
3 Years	22.8%	-30.0%	1.32	+32.6%
5 Years	23.1%	-30.0%	0.81	+21.1%
10 Years	22.1%	-31.3%	0.95	+23.4%

Notes & Warnings

🟢 Favorable / fair valuation: Avg P/E of 25.5

🟢 Deep market liquidity & capital coverage (Tier 1)

🟢 Established large fund (> 500M € AUM)

🟢 High institutional analyst coverage (32.1 analysts)

⚠️ Elevated top 10 holdings concentration: 56% of fund in top 10 positions.

⚠️ Sector concentration: 37% in "Technology".

⚠️ Industry concentration: 30% in "Semiconductors".

🔴 Growth estimates are hyper-concentrated: Top 3 growth drivers account for 76% of total forward growth.

ℹ️ Tech-Capex Exposure: 36% in semiconductors & hardware – dependent on hyperscaler capex cycles.

⚠️ Elevated Regulatory & Policy Risk: 35% in heavily regulated industries (defense, regulated utilities, healthcare policy).