Tencent Holdings Ltd.

ISIN KYG875721634

WKN A1138D

Market cap (in EUR)

476,564 m

Country

China

Sector

Technology

Dividend yield

1.13%

Overview

Quote

Description

Tencent Holdings Ltd. engages in the development and operation of digital platforms and provides fintech and cloud services. It operates through the following segments: Value-Added Services, FinTech and Business Services, Marketing Services, and Others. The Value-Added Services segment is involved in online and mobile games, community value-added services, and applications across various Internet and mobile platforms. The FinTech and Business Services segment offers fintech and cloud services, which include commissions from payment, wealth management and other services. The Marketing Services segment provides performance-based and display advertising. The Others segment includes financial results from investments, as well as activities such as film and television production and distribution for third parties, copyright licensing, merchandise sales, and other related operations The company was founded by Yi Dan Chen, Hua Teng Ma, Chen Ye Xu, Li Qing Zeng, and Zhi Dong Zhang on November 11, 1998, and is headquartered in Shenzhen, China.

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Technology Software and Consulting Software China

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Financials

Key metrics

Market capitalisation, EUR	476,564 m
EPS, EUR	3.15
P/B ratio	3.3
P/E ratio	16.5
Dividend yield	1.13%

Income statement (2025)

Revenue, EUR	92,706 m
Net income, EUR	27,727 m
Profit margin	29.91%

What ETF is Tencent Holdings Ltd. in?

There are 177 ETFs which contain Tencent Holdings Ltd.. All of these ETFs are listed in the table below. The ETF with the largest weighting of Tencent Holdings Ltd. is the Franklin MSCI China Paris Aligned Climate UCITS ETF .

ETF	Weight	Investment focus	Fund size (in m EUR)
HSBC MSCI AC Far East ex Japan UCITS ETF USD (Dist)	3.39%	Equity Asia Pacific	31
iShares MSCI AC Far East ex-Japan UCITS ETF	3.37%	Equity Asia Pacific	1,736
iShares FTSE All-World UCITS ETF USD (Acc)	0.33%	Equity World	26
Amundi MSCI China ESG Selection Extra UCITS ETF Dist	13.37%	Equity China Social/Environmental	92
State Street SPDR MSCI EM Asia UCITS ETF USD	3.21%	Equity Asia Pacific	1,495
iShares MSCI EM UCITS ETF (Dist)	2.66%	Equity Emerging Markets	8,813
Xtrackers Portfolio UCITS ETF 1C	0.41%	Equity World Multi-Asset Strategy	751
VanEck New China UCITS ETF A	0.81%	Equity China Growth	6
iShares Moderate Portfolio UCITS ETF EUR (Acc)	0.20%	Equity World Social/Environmental Multi-Asset Strategy	46
JPMorgan Global Emerging Markets Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF EUR (acc)	2.95%	Equity Emerging Markets Social/Environmental Climate Change	34
Amundi MSCI China ESG Selection Extra UCITS ETF Acc	13.37%	Equity China Social/Environmental	396
UBS Solactive China Technology UCITS ETF hCHF acc	8.44%	Equity China Technology Innovation	1
Invesco RAFI All-World Fundamental Value UCITS ETF	0.16%	Equity World Value	233
iShares Asia ex Japan Equity Enhanced Active UCITS ETF USD (Acc)	3.27%	Equity Asia Pacific Social/Environmental Multi-Asset Strategy	89
Franklin FTSE China UCITS ETF	12.68%	Equity China	1,418
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF CHF Hedged (acc)	0.38%	Equity World Social/Environmental	5
HSBC MSCI Emerging Markets UCITS ETF USD	2.67%	Equity Emerging Markets	3,588
iShares Moderate Portfolio UCITS ETF GBP Hedged (Acc)	0.20%	Equity World Social/Environmental Multi-Asset Strategy	28
iShares Core MSCI Emerging Markets IMI UCITS ETF	2.34%	Equity Emerging Markets	1,485
Invesco FTSE All-World UCITS ETF GBP PfHdg Dist	0.34%	Equity World	26
KraneShares CSI China Internet UCITS ETF EUR	9.30%	Equity China Technology	138
UBS Solactive China Technology UCITS ETF hEUR acc	8.44%	Equity China Technology Innovation	112
iShares MSCI EM UCITS ETF (Acc)	2.66%	Equity Emerging Markets	8,558
Xtrackers MSCI Emerging Markets UCITS ETF 1C	2.69%	Equity Emerging Markets	11,559
Amundi Prime All Country World UCITS ETF Acc	0.34%	Equity World	2,258
KraneShares CSI China Internet UCITS ETF GBP	9.30%	Equity China Technology	44
Amundi FTSE All World GDP-Weighted UCITS ETF Acc	2.04%	Equity World	16
Xtrackers MSCI China UCITS ETF 1D	14.08%	Equity China	758
CT QR Series Global Equity Active UCITS ETF USD Dist	0.76%	Equity World Fundamental/Quality	-
Vanguard LifeStrategy 40% Equity UCITS ETF Distributing	0.09%	Equity World Multi-Asset Strategy	43
Goldman Sachs Alpha Enhanced Emerging Markets Equity Active UCITS ETF USD (Dist)	2.79%	Equity Emerging Markets Social/Environmental	0
iShares MSCI ACWI UCITS ETF USD (Dist)	0.33%	Equity World	18
UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-UKdis	2.72%	Equity Emerging Markets	99
State Street SPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Acc)	0.32%	Equity World	6,355
Xtrackers MSCI AC World Screened UCITS ETF 2C - EUR Hedged	0.36%	Equity World Social/Environmental	82
JPMorgan AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF USD (acc)	2.86%	Equity Asia Pacific Social/Environmental	181
iShares Dow Jones Global Leaders Screened UCITS ETF USD (Acc)	1.51%	Equity World Social/Environmental	1,815
KraneShares CSI China Internet UCITS ETF GBP Hedged	9.30%	Equity China Technology	1
Invesco MSCI China All Shares Stock Connect UCITS ETF	7.86%	Equity China	96
UBS MSCI EM Climate Paris Aligned UCITS ETF USD acc	3.42%	Equity Emerging Markets Social/Environmental Climate Change	621
iShares MSCI EM IMI Screened UCITS ETF USD (Dist)	2.44%	Equity Emerging Markets Social/Environmental	1,230
HSBC Hang Seng TECH UCITS ETF HKD	6.68%	Equity Hong Kong Technology	1,289
State Street SPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Dist)	0.32%	Equity World	161
Xtrackers MSCI China UCITS ETF 1C	14.08%	Equity China	954
Scalable MSCI AC World Xtrackers UCITS ETF 1C	0.56%	Equity World	682
Amundi MSCI Millennials UCITS ETF Acc	1.34%	Equity World Social/Environmental Millennials	20
iShares BIC 50 UCITS ETF USD (Dist)	12.40%	Equity Emerging Markets	104
UBS MSCI ACWI Universal UCITS ETF hEUR acc	0.36%	Equity World Social/Environmental	749
Vanguard LifeStrategy 20% Equity UCITS ETF Distributing	0.09%	Equity World Multi-Asset Strategy	16
JPMorgan Global Emerging Markets Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF USD (dist)	2.95%	Equity Emerging Markets Social/Environmental Climate Change	6
UBS Core MSCI EM UCITS ETF USD dis	2.72%	Equity Emerging Markets	2,666
Amundi MSCI Disruptive Technology UCITS ETF Acc	1.47%	Equity World Technology Social/Environmental Innovation	159
Xtrackers FTSE All-World ex US UCITS ETF 1C	0.86%	Equity World	44
First Trust Indxx Innovative Transaction & Process UCITS ETF Acc	0.53%	Equity World Technology Blockchain	44
State Street SPDR MSCI All Country World UCITS ETF USD Hedged (Acc)	0.35%	Equity World	94
Amundi MSCI China ESG Selection UCITS ETF DR (C)	13.68%	Equity China Social/Environmental	182
Franklin FTSE Emerging Markets UCITS ETF Dist	3.31%	Equity Emerging Markets	4
Xtrackers MSCI Next Generation Internet Innovation UCITS ETF 1C	2.20%	Equity World Technology Social/Environmental Digitalisation	64
State Street SPDR MSCI Emerging Markets UCITS ETF USD	2.68%	Equity Emerging Markets	1,827
Invesco FTSE All-World UCITS ETF EUR PfHdg Acc	0.34%	Equity World	55
Xtrackers MSCI Fintech Innovation UCITS ETF 1C	4.36%	Equity World Technology Social/Environmental Fintech	11
Xtrackers MSCI AC World Screened UCITS ETF 1C	0.36%	Equity World Social/Environmental	5,927
Fidelity Emerging Markets Equity Research Enhanced UCITS ETF ACC-USD	3.03%	Equity Emerging Markets Social/Environmental	2,838
JPMorgan Global Emerging Markets Research Enhanced Index Equity Active UCITS ETF USD (acc)	2.85%	Equity Emerging Markets Social/Environmental	1,973
iShares Blockchain Technology UCITS ETF USD (Acc)	2.27%	Equity World Technology Blockchain	246
Invesco FTSE All-World UCITS ETF	0.34%	Equity World	3,540
iShares Conservative Portfolio UCITS ETF USD Hedged (Acc)	0.06%	Equity World Social/Environmental Multi-Asset Strategy	0
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)	2.34%	Equity Emerging Markets	36,603
JPMorgan AC Asia Pacific ex Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	2.86%	Equity Asia Pacific Social/Environmental	1
iShares MSCI China UCITS ETF USD (Acc)	13.13%	Equity China	2,301
Xtrackers MSCI Innovation UCITS ETF 1C	0.57%	Equity World Social/Environmental Innovation	6
UBS MSCI ACWI Universal UCITS ETF USD dis	0.36%	Equity World Social/Environmental	2,246
BNP Paribas Easy MSCI ACWI SRI S-Series PAB 5% Capped UCITS ETF EUR Acc	0.34%	Equity World Social/Environmental	16
Amundi Core MSCI Emerging Markets UCITS ETF Acc	2.79%	Equity Emerging Markets	4,118
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF EUR (acc)	0.38%	Equity World Social/Environmental	2
UBS Solactive China Technology UCITS ETF USD acc	8.44%	Equity China Technology Innovation	218
Xtrackers Emerging Markets Net Zero Pathway Paris Aligned UCITS ETF	3.86%	Equity Emerging Markets Social/Environmental Climate Change	15
UBS MSCI ACWI Universal UCITS ETF hGBP acc	0.36%	Equity World Social/Environmental	371
Vanguard LifeStrategy 40% Equity UCITS ETF Accumulating	0.09%	Equity World Multi-Asset Strategy	233
iShares MSCI ACWI Screened UCITS ETF USD (Acc)	0.36%	Equity World Social/Environmental	2,810
iShares China Large Cap UCITS ETF	7.21%	Equity China	723
iShares MSCI EM IMI Screened UCITS ETF USD (Acc)	2.44%	Equity Emerging Markets Social/Environmental	5,727
First Trust Dow Jones International Internet UCITS ETF Acc	8.18%	Equity World Technology	7
Xtrackers Global Equity Top Active UCITS ETF 1C	0.44%	Equity World Fundamental/Quality	6
iShares Emerging Markets Equity Enhanced Active UCITS ETF (Dist)	3.10%	Equity Emerging Markets Social/Environmental Multi-Asset Strategy	61
iShares MSCI EM CTB Enhanced ESG UCITS ETF USD (Dist)	2.63%	Equity Emerging Markets Social/Environmental	1,073
HSBC PLUS Emerging Markets Equity Quant Active UCITS ETF USD Acc	5.62%	Equity Emerging Markets Multi-Factor Strategy	133
UBS MSCI ACWI Universal UCITS ETF hJPY acc	0.36%	Equity World Social/Environmental	1
iShares MSCI EM CTB Enhanced ESG UCITS ETF USD (Acc)	2.63%	Equity Emerging Markets Social/Environmental	7,822
Invesco Emerging Markets Enhanced Equity UCITS ETF Acc	2.79%	Equity Emerging Markets Multi-Factor Strategy	111
iShares MSCI AC Far East ex-Japan UCITS ETF USD (Acc)	3.37%	Equity Asia Pacific	93
Amundi Core MSCI Emerging Markets UCITS ETF EUR Dist	2.79%	Equity Emerging Markets	1,120
iShares MSCI China Tech UCITS ETF USD (Acc)	6.88%	Equity China Technology Social/Environmental	2,028
Invesco MSCI Emerging Markets Universal Screened UCITS ETF Acc	2.48%	Equity Emerging Markets Social/Environmental	53
Goldman Sachs Alpha Enhanced Emerging Markets Equity Active UCITS ETF USD (Acc)	2.79%	Equity Emerging Markets Social/Environmental	367
Franklin FTSE Emerging Markets UCITS ETF (Acc)	3.31%	Equity Emerging Markets	7
HANetf Lloyd Focused Equity UCITS ETF Accumulating	2.47%	Equity World Fundamental/Quality	249
BNP Paribas Easy MSCI ACWI SRI S-Series PAB 5% Capped UCITS ETF USD C	0.34%	Equity World Social/Environmental	61
Vanguard LifeStrategy 80% Equity UCITS ETF (EUR) Accumulating	0.09%	Equity World Multi-Asset Strategy	1,167
JPMorgan Global Emerging Markets Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF USD (acc)	2.95%	Equity Emerging Markets Social/Environmental Climate Change	177
Invesco MSCI China Technology All Shares Stock Connect UCITS ETF	6.63%	Equity China Innovation	140
HSBC MSCI China UCITS ETF USD	13.20%	Equity China	831
iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc)	0.91%	Equity Emerging Markets Value	1,478
KraneShares ICBCCS China S&P 500 UCITS ETF	5.52%	Equity China	66
iShares MSCI EM Asia UCITS ETF (Acc)	3.18%	Equity Asia Pacific	7,288
iShares Growth Portfolio UCITS ETF GBP Hedged (Acc)	0.38%	Equity World Social/Environmental Multi-Asset Strategy	27
HSBC MSCI AC Asia Pacific ex Japan Climate Paris Aligned UCITS ETF	3.29%	Equity Asia Pacific Social/Environmental Climate Change	16
Vanguard FTSE All-World UCITS ETF (USD) Accumulating	0.32%	Equity World	44,325
Amundi MSCI Emerging Markets ESG Selection UCITS ETF DR (C)	3.88%	Equity Emerging Markets Social/Environmental	1,060
HSBC MSCI AC Far East ex Japan UCITS ETF USD	3.39%	Equity Asia Pacific	401
Amundi MSCI EM Asia ESG Broad Transition UCITS ETF Acc	3.27%	Equity Asia Pacific Social/Environmental Climate Change	672
CT QR Series Global Equity Active UCITS ETF USD Acc	0.76%	Equity World Fundamental/Quality	-
Amundi MSCI China Tech UCITS ETF USD Acc	1.01%	Equity China Social/Environmental Innovation	35
VanEck Morningstar Global Wide Moat UCITS ETF	1.51%	Equity World Moat	148
Xtrackers Harvest MSCI China Tech 100 UCITS ETF 1C	4.36%	Equity China Social/Environmental Innovation	43
Vanguard FTSE Emerging Markets UCITS ETF (USD) Distributing	3.11%	Equity Emerging Markets	3,150
Global X Artificial Intelligence UCITS ETF USD Accumulating	1.68%	Equity World Technology Artificial Intelligence	73
UBS MSCI ACWI Universal UCITS ETF hCHF dis	0.36%	Equity World Social/Environmental	81
Xtrackers MSCI AC World Screened UCITS ETF 5C - USD Hedged	0.36%	Equity World Social/Environmental	1
JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	2.85%	Equity Emerging Markets Social/Environmental	26
JPMorgan Global Emerging Markets Research Enhanced Index Equity Active UCITS ETF EUR (acc)	2.85%	Equity Emerging Markets Social/Environmental	28
UBS MSCI ACWI Universal UCITS ETF hCHF acc	0.36%	Equity World Social/Environmental	1,741
Xtrackers MSCI Emerging Markets UCITS ETF 1D	2.69%	Equity Emerging Markets	348
iShares MSCI ACWI UCITS ETF USD (Acc)	0.33%	Equity World	29,487
iShares Emerging Markets Equity Enhanced Active UCITS ETF USD (Acc)	3.10%	Equity Emerging Markets Social/Environmental Multi-Asset Strategy	1,255
Vanguard LifeStrategy 80% Equity UCITS ETF Distributing	0.09%	Equity World Multi-Asset Strategy	88
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF USD (acc)	0.38%	Equity World Social/Environmental	217
HSBC MSCI Emerging Markets UCITS ETF USD (Acc)	2.67%	Equity Emerging Markets	1,341
HSBC MSCI China UCITS ETF USD (Acc)	13.20%	Equity China	114
State Street SPDR MSCI All Country World UCITS ETF EUR Hedged (Acc)	0.35%	Equity World	1,632
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF EUR Hedged (acc)	0.38%	Equity World Social/Environmental	27
iShares Conservative Portfolio UCITS ETF EUR (Acc)	0.06%	Equity World Social/Environmental Multi-Asset Strategy	16
HSBC MSCI Emerging Markets Value Screened UCITS ETF USD (Acc)	1.16%	Equity Emerging Markets Value	106
UBS Core MSCI EM UCITS ETF USD acc	2.72%	Equity Emerging Markets	7,997
Amundi Prime Emerging Markets UCITS ETF DR (C)	2.57%	Equity Emerging Markets	765
Vanguard FTSE Emerging Markets UCITS ETF (USD) Accumulating	3.11%	Equity Emerging Markets	1,922
VanEck Video Gaming and eSports UCITS ETF	6.52%	Equity World Technology Social/Environmental E-Sports & Gaming	519
Amundi MSCI AC Far East Ex Japan ESG Selection UCITS ETF DR - USD (C)	3.89%	Equity Asia Pacific Social/Environmental	4
Franklin MSCI China Paris Aligned Climate UCITS ETF	16.36%	Equity China Social/Environmental Climate Change	8
iShares MSCI China UCITS ETF USD (Dist)	13.13%	Equity China	70
KraneShares CSI China Internet UCITS ETF USD	9.30%	Equity China Technology	432
Xtrackers FTSE All-World UCITS ETF 1C	0.34%	Equity World	52
Invesco FTSE All-World UCITS ETF	0.34%	Equity World	266
BNP Paribas Easy MSCI Emerging Min TE UCITS ETF	2.76%	Equity Emerging Markets Social/Environmental	1,716
Vanguard LifeStrategy 20% Equity UCITS ETF Accumulating	0.09%	Equity World Multi-Asset Strategy	99
HANetf EMQQ Emerging Markets Internet UCITS ETF	5.59%	Equity Emerging Markets Social/Environmental E-commerce	105
Vanguard LifeStrategy 60% Equity UCITS ETF Accumulating	0.09%	Equity World Multi-Asset Strategy	893
BNP Paribas Easy MSCI China Min TE UCITS ETF USD Acc	13.46%	Equity China Social/Environmental	12
UBS MSCI AC Asia ex Japan Selection UCITS ETF USD acc	3.45%	Equity Asia Pacific Social/Environmental Climate Change	9
iShares Moderate Portfolio UCITS ETF USD Hedged (Acc)	0.20%	Equity World Social/Environmental Multi-Asset Strategy	7
HSBC PLUS Emerging Markets Equity Income Quant Active UCITS ETF USD Dist	4.88%	Equity World Dividend	84
Amundi Core MSCI Emerging Markets UCITS ETF USD Dist	2.79%	Equity Emerging Markets	91
Amundi MSCI Digital Economy UCITS ETF Acc	1.59%	Equity World Technology Social/Environmental Digitalisation	110
iShares China Large Cap UCITS ETF USD (Acc)	7.21%	Equity China Large Cap	31
UBS MSCI China Universal UCITS ETF USD dis	3.61%	Equity China Social/Environmental Climate Change	206
Xtrackers MSCI Emerging Markets Climate Transition UCITS ETF 1C	2.47%	Equity Emerging Markets Social/Environmental Climate Change	159
iShares Growth Portfolio UCITS ETF EUR (Acc)	0.38%	Equity World Social/Environmental Multi-Asset Strategy	99
iShares Conservative Portfolio UCITS ETF GBP Hedged (Acc)	0.06%	Equity World Social/Environmental Multi-Asset Strategy	3
UBS MSCI ACWI Climate Paris Aligned UCITS ETF USD acc	0.39%	Equity World Social/Environmental Climate Change	80
Amundi Prime All Country World UCITS ETF Dist	0.34%	Equity World	4,566
JPMorgan All Country Research Enhanced Index Equity Active UCITS ETF USD (dist)	0.38%	Equity World Social/Environmental	59
HSBC MSCI Emerging Markets Climate Paris Aligned UCITS ETF	3.43%	Equity Emerging Markets Social/Environmental Climate Change	34
Vanguard FTSE All-World UCITS ETF (USD) Distributing	0.32%	Equity World	22,638
UBS MSCI ACWI Universal UCITS ETF hUSD acc	0.36%	Equity World Social/Environmental	1,280
State Street SPDR MSCI All Country World UCITS ETF USD Unhedged (Acc)	0.35%	Equity World	14,246
iShares Growth Portfolio UCITS ETF USD Hedged (Acc)	0.38%	Equity World Social/Environmental Multi-Asset Strategy	2
Franklin AI, Metaverse and Blockchain UCITS ETF	2.10%	Equity World Artificial Intelligence	19
Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C	5.96%	Equity Emerging Markets Social/Environmental	1,376
Amundi MSCI China Tech UCITS ETF EUR Acc	1.01%	Equity China Social/Environmental Innovation	221
Amundi MSCI Emerging Markets ESG Broad Transition UCITS ETF DR (C)	2.65%	Equity Emerging Markets Social/Environmental Climate Change	1,970
iShares Edge MSCI EM Minimum Volatility UCITS ETF	0.18%	Equity Emerging Markets Low Volatility/Risk Weighted	422
Invesco FTSE All-World UCITS ETF CHF PfHdg Acc	0.34%	Equity World	63
KraneShares CSI China Internet UCITS ETF EUR Hedged	9.30%	Equity China Technology	2
Invesco RAFI Emerging Markets Fundamental Value UCITS ETF Dist	0.92%	Equity Emerging Markets Value	73
L&G Emerging Markets Equity UCITS ETF USD Acc	2.77%	Equity Emerging Markets Social/Environmental	129
Vanguard LifeStrategy 60% Equity UCITS ETF Distributing	0.09%	Equity World Multi-Asset Strategy	116
Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF	3.56%	Equity Emerging Markets Social/Environmental Climate Change	8

Performance

Returns overview

YTD	-22.07%
1 month	-0.38%
3 months	-6.89%
6 months	-24.75%
1 year	-4.97%
3 years	+33.05%
5 years	-14.09%
Since inception (MAX)	+26.21%
2025	+32.68%
2024	+45.16%
2023	-16.29%
2022	-15.78%

Monthly returns in a heat map

Risk

Risk metrics in this section:

Volatility, annualised, measured for 1, 3 and 5 year periods. The annualised volatility reflects the degree of price fluctuations during a one year period. The higher the volatility, the more significantly the price of the asset (stock, ETF, etc.) has changed in the past. Assets with higher volatility are generally considered more risky. We calculate the volatility based on the data for the past 1, 3 and 5 years so that you can see if price fluctuations for the ETF became stronger or weaker over time.
Return per risk for 1, 3 and 5 year periods. This is the annualised (i.e. converted to a one year period) past return divided by the past annualised volatility. The metric puts the historical return of an asset in relation to its historical risk and gives you a retrospective indication of the degree of price fluctuation you had to bear with in order to obtain the return. We calculate this parameter for 1, 3 and 5 year periods to display its evolution over time.
Maximum drawdown for a period. This shows the worst possible loss an investor could have suffered during the respective period, by first buying and subsequently selling the asset at the least favourable prices. For example, if there was the following sequence of daily ETF prices: 10€, 5€, 12€, 20€, an investor would have suffered the worst loss by buying for 10€ and subsequently selling for 5€. Therefore in this case the maximum drawdown would be (5€ - 10€)/10€ = -50%.

ETF returns include dividend payments (if applicable).