Step by step upwards! With an all-time high in passive income, the foundation for financial freedom is rock solid. 📈🏰

May proved how important stability is. Just like the historic walls of Albrechtsburg Castle in Meissen, which I visited, my portfolio is in a solid position after the recent rollercoaster ride, with the overall portfolio recording a solid gain of 2.42%.

On the markets, AI continues to drive tech stocks, while $CSCO (+1,8 %) the strong old economy backbone.

The 397 steps of the Spitzhaus staircase in Radebeul near Dresden are a perfect symbol of wealth accumulation. It takes perseverance and consistency. But investors are rewarded with a steadily increasing cash flow. Time for a look back!

DISCLAIMER/RISK WARNING

Please remember that this article is for entertainment purposes only. At no point is it a buy or sell recommendation or professional legal, tax or investment advice. Don't just copy anything I do. I am merely describing what is happening in my portfolios, but in no way guarantee that it is up-to-date, correct or complete.

Investing in the capital market is always associated with risks such as loss of invested capital, price fluctuations, liquidation risks or market risks. In accordance with the current guidelines of ESMA and BaFin, I expressly point out that this review serves exclusively to document my personal investment strategy and does not constitute investment advice within the meaning of the WpIG. The securities presented by me are expressly not to be understood as investment advicebut are merely components of my personal portfolio at the time of reporting. Please also bear in mind that there is a conflict of interest, as I naturally hold the securities mentioned myself.

If necessary, seek professional advice and do your own research.

Despite great care, there may be errors in the text or in the figures.

Overall performance

My key performance indicators for my overall portfolio at a glance:

• TTWROR (month under review): + 2.42 % (previous month: + 5.29 %)
• TTWROR (since inception): +95,36 %
• IZF (month under review): +32.45 % (previous month: +87.17 %)
• IZF (since inception): +12,39 %
• Delta: +2,426.37 €
• Absolute change: € +3,506.37

Data shown as "since inception" is valid since 31.05.2020

Performance & volume

The merry month of May had little impact on my tops and flops. They all moved a little, but hardly with recognizable strong trends. It is rather stocks from the solid middle that stand out with a stronger positive development, such as $CSCO (+1,8 %) , $QCOM (-3,69 %) or $TXN (-2,05 %) . All tech somewhere, but not the tech that we all think of first and foremost.

My problem children remain problem children, but they are all improving somehow. We are reducing the minus, especially with $NKE (-0,82 %) ; $CPB (+2,26 %) , $NOVO B (+3,57 %) and $DHR (+3,78 %) . I cannot see any clear reason other than a general recovery.

Largest single stock positions by volume in the overall portfolio:

Share (%) of total portfolio (and associated portfolio):

$AVGO (-8,32 %) 3.39 % (main share portfolio)

$GOOGL (+3,83 %) 1.67 % (main share portfolio)

$WMT (+0,27 %) 1.61 % (main share portfolio)

$CSCO (+1,8 %) 1.51 % (main share portfolio)

$FAST (+1,27 %) 1.32 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

Share (%) of the total portfolio (and associated securities account):

$GIS (-0,14 %) 0.39 % (main share portfolio)

$NOVO B (+3,57 %) 0.45 % (main share portfolio)

$EDM2 (-0,94 %) 0.45 % (main share portfolio)

$NKE (-0,82 %) 0.47 % (main share portfolio)

$DHR 0.56 % (main share portfolio)

Top-performing individual stocks

Shares with performance since initial purchase (%) (and the respective portfolio):

$AVGO (-8,32 %) : +450.94 % (main share portfolio)

$GOOGL (+3,83 %) +153.04 % (main share portfolio)

$CSCO (+1,8 %) +116.83 % (main share portfolio)

$WMT (+0,27 %) +91.59 % (main share portfolio)

$OHI (-1,03 %) +81.69 % (main share portfolio)

Flop performer individual stocks

Shares with performance since initial purchase (%) (and the respective portfolio):

$GIS (-0,14 %) : -46.94 % (main share portfolio)

$NKE (-0,82 %) -46.64 % (main share portfolio)

$CPB (+2,26 %) -40.13 % (main share portfolio)

$NOVO B (+3,57 %) -26.23 % (main share portfolio)

$DHR (+3,78 %) -24.28 % (main share portfolio)

Sector allocation of my individual stocks

My top 6 sectors are:

Consumer goods: 16.30% (previous month: 17.62%)

Technology: 16.09% [excluding information technology] (previous month: 16.60%)

Miscellaneous: 15.56 % (previous month: 16.60 %)

Financial sector: 11.30% (previous month: 11.39%)

Transportation: 9.67% (previous month: 9.13%)

Trade: 8.18 % (previous month: 7.50 %)

Asset allocation

Equities and ETFs currently determine my asset allocation, with ETFs growing steadily in recent months, which may be due to additional purchases.

ETFs: 43.4 % (previous month: 42.8 %)

Equities: 56.6 % (previous month: 57.2 %)

Investments and additional purchases

I have invested the following sums in savings plans:

Planned savings plan amount from the fixed net salary: € 1,080

Savings ratio of savings plans to fixed net salary: 50.60

Planned savings plan amount from the fixed net salary, incl. reinvested dividends according to plan size: € 1,200

In addition, there were the following additional investments from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

Subsequent purchases/one-off savings plans as cashback annuities from refunds: € 0.00

Subsequent purchases/one-off savings plans as cashback annuities from bonuses: € 0.00

Subsequent purchases from other surpluses: € 185.21

Automatically reinvested dividends by the broker: € 5.47 (Function is only activated for an old custody account, as I otherwise prefer to control the reinvestment myself)

Number of unscheduled additional purchases: 5

Passive income from dividends and ETF distributions

Passive income in the month under review

I received € 272.14 in dividends and ETF distributions in the month under review (€ 163.38 in the same month of the previous year). This corresponds to a change of +66.57 % compared to the same month of the previous year.

Number of dividend payments and ETF distributions: 28

Number of payment days: 15 days

Average dividend per payment: € 9.72

average dividend per payment day: € 18.14

Passive income YTD

YTD I have received distributions in the amount of € 914.50. If you put this in relation to my annual dividend target of € 2,100, the target achievement of the distribution is 43.5 % (target 41.7 %). This means that after several months I am now back above the target, which also shows that we are now facing stronger months again.

The three calculation methods result in the following distribution yields:

YTD distribution yields: 0.98 %

Distribution yields since inception: 4.97 %

Distribution yields YoY: 2.31 %

The distribution yield YoY increased by 0.93%, while the relative fluctuation was 29.54%. This shows that the distribution is growing slightly, but nevertheless from a lower momentum, as the relative fluctuation was always lower in the previous months. We are therefore dealing with a surge, which traditionally characterizes May for me.

My top payers

The top 6 payers in the month under review were:

$VNA (+1,58 %)

$DHL (-0,1 %)

$IMEU (+1,06 %)

$IWDP (+1,07 %)

$HTGC (+1,21 %)

$SAP (+3,17 %)

FIRE Number & Runway

Even though I don't want to sell shares later, I also calculate my FIRE number for comparability with investors who run an exclusively accumulating strategy.

My FIRE figure based on my 12-month spending (TTM) of €12,219.62 was €305,490.50 (previous month: €303,921.50).

That's the minimum amount my portfolio would need to reach to theoretically cover the expenses via a 4% withdrawal. And this figure has risen slightly.

Of course, this figure fluctuates every month. But it's not the only metric to determine how long my assets could support me in an emergency (without taking taxes into account).

The rolling spending range (runway) expresses how long I could live off my assets.

On an annual basis, this is currently 8.16 years (previous month 7.92 years). Compared to the previous month, it has fallen by 0.24 years increased. So I am effectively about quarter of a year more "free" due to the recovery from the current global political events.

Compared to the same month last year, this is an increase of 2.33 years years. I am still 16.84 years away from my runway target (25 years), which corresponds to the FIRE multiplier. 16.84 years away. So there is still a long way to go to financial freedom, assuming that everything continues as before.

The runway stability of 97.49% indicates that my system is solid despite the market turbulence. The proximity to 100% proves that the core of my strategy remains unaffected by the market.

Performance comparison: portfolio vs. benchmarks

To see where I really stand, I regularly compare my portfolio with the major market ETFs. This allows me to see immediately how well my performance (TTWROR) has done in the current month and since the start compared to the overall market.

My portfolio: +2.42 %

$VWRL: +5,97 %

$VUSA: +6.43 %

$IQQY: +3.22 %

I am lagging behind...

Risk figures

Here are my risk figures for the month under review:

Maximum drawdown:

In the month under review: 0.78

since start: 17.17 %

Maximum drawdown duration:

In the month under review: 8 days

since start: 702 days

Volatility:

In the month under review: 2.07

since inception: 28.74 %

Sharpe Ratio:

In the month under review: 13.77

since inception: 0.43

Semi-volatility:

In the month under review: 1.28

since inception: 21.31 %

The maximum drawdown in May of just 0.78 % shows that the dust has settled. While the previous months were still characterized by corrections, the impact in May remains minimal. The Sharpe ratio of a strong 13.77 underlines the excellent risk-adjusted performance in this growth phase.

With a volatility of 2.07% and a semi-volatility of 1.28%, the fluctuations are far below the historical average. This confirms once again that my system is stable. While the long-term values hardly move, I use the calm for my foundation. The focus remains on cash flow, while the risks remain absolutely controlled.

Outlook

I look back on the merry month of May with real satisfaction. Fresh capital flowed directly into the market, the foundation for passive income continues to grow and May delivered a new all-time high: EUR 272.14 in dividends and distributions show in black and white that perseverance pays off.

Privately, May was a real month of pleasure. The trips to Albrechtsburg Castle in Meissen and Wackerbarth Castle, including the Spitzhaustreppe in Radebeul near Dresden, were absolute highlights. The 397 steps of the Spitzhaustreppe made me realize something that I have long known from investing: it always goes up step by step. My running sessions and workouts are now so automated that my strength and endurance grow almost automatically, without any motivational debates.

I conclude this review with real serenity. When the foundation is right and the habits are in place, the market noise loses all its terror. If you build your foundation like a castle, you will not be distracted by any wind.

Thank you for reading. Onwards to June and upwards step by step! 🚀

👉 The review is also available as a YouTube video and as Instagram Carousel posts, which are published as follows:

06.06.2026: Depot review on Instagram (key performance indicators, share performance, allocation, sectors, additional purchases and performance comparisons)

07.06.2026: Budget review on Instagram (income, expenses, cash flow, ratios, budget compliance and citizen money check)

08.06.2026: Cash flow review on Instagram (general, YTD and actual vs. target comparison for passive income, my top spenders, FIRE figure and capital reach)

09.06.2026: consolidated monthly review on YouTube

📲 There are regular videos, shorts, reels and carousel posts on the topics of frugalism, mindset and investing under @frugalfreisein on Instagram and YouTube.

Please pay close attention to the spelling of my alias. Unfortunately, there are too many fake and phishing accounts on social media. I have already been "copied" several times.

Dear Community,

After cleaning up some early sins in the portfolio, I am now ready to face the judgment of the GQers and would like to hear your opinion about my portfolio. I am using the steps from @DonkeyInvestorso that I don't forget anything essential and put a point 0 in front of it with some key data about myself for context :-)

Step 0: What? Who are you?

I am in my mid-30s and live with my wife and two children in the Speckgürtel of Berlin. Here we built an EFH in a residential area in 2018. We are both fully employed - I in the IT strategy of a large German corporation and my wife in public service. In the pandemic I started to look into stocks and since September 2022 I am invested in various stocks. More about this below.

Step 1: Tell us something about your investment horizon and your goals

To start, the main investing goal right now is our own property. I consider the loan installments to be part of our savings, as it allows us to call a bit more of our house and land our own each month. We have chosen a loan model that gives us interest rate security (~2.1%) down to the last euro, so we don't have to worry about what the interest rate environment will be like in 10, 15 or 20 years.

In addition to the loan, we are steadily adding to our nest egg(s) / small project capital / vacation capital. In and around the house and garden are always current topics that make our lives easier or at least more beautiful :-)

For the remaining invest sum there are currently two possible scenarios.

Scenario 1: Over the next 15 years or so, some equity capital is to be saved for a possible vacation property in DE or abroad.

Scenario 2: If this plan should fail for reasons in the future, the investment horizon is unlimited until retirement. In that case the time frame would be about 30 years.

Step 2: Outline your strategy and explain how it will help you achieve your goals

After doing some research on finance online and with books, I ended up with a two-part strategy. I save 150 EUR per month spread over 3 ETFs and thus map a 50/30/20 approach World / EM / Europe. The goal is to somewhat counteract the strong US bias in the common World indices and to orient myself closer to the distribution by GDP worldwide. It also helps me to stay interested and on task when different positions develop differently. Then you always have something to research 🙂 .

All ETF are accumulating because my goals are not dividend oriented.

I tried individual stocks in the very beginning on a very small scale, but I've since ditched them all. I am interested in financial topics, but I can't and don't want to spend the time to follow individual companies meticulously besides my family, job and house. Therefore, it remains mainly with the ETF.

As a little fun bet, I've mixed in a bit of crypto, which I don't fund out of my regular income. I participate a bit on two survey platforms and get so between 30 and 40 EUR / month. I then push the money to BISON and buy crypto with it. It gives me a good feeling to really use "play money" here, where even a total failure would not itch me. Best case scenario, that eventually goes to the moon and helps support the more serious goals 🙂 Also, I feel crypto is a good place to learn how to deal with volatility. When everyone panics because stock markets go back and forth by 5-10-15%, but that happens more or less every few weeks with crypto, it doesn't make me that crazy anymore 🙂

Step 3: Explain why you chose the exact stocks in your portfolio

First of all, I chose an ESG variant for all my ETFs. The overall ESG construct is always criticized, but I think it works at least approximately. If I put an MSCI World ETF with and without ESG side by side, a large number of the companies that I would also avoid according to my moral sense fall out. I simply don't want to be invested in companies that are actively working against the future of me and my children. Sometimes the whole thing goes beyond my personal feelings, for example on the subject of alcohol, but that's the way it is. Fortunately, my EUR ETF has LVMH in it ;-)

So even if the system can be improved, which is certainly the case, in the end products come out that I find better than those without ESG.

About the individual positions:

$LESW: My base world ETF, but it has pretty strict ESG rules. Here about half of the MSCI World companies fly out and "only" 748 positions remain. This ETF gets 75€ per month.

$EDM2 (-0,94 %): The EM ETF's main purpose is to further diversify the portfolio as itself. Have no particular return expectations.

Here I invest monthly 45€

$SAUM (+0,94 %): With the Europe (not only Euro) ETF I deliberately enter a few overlaps with the World ETF, but I can cope well. I would like to implement with it in the total portfolio the weighting approximately globally after GDP.

Here flow monthly 30€ into it.

$BTC (+0,27 %): The standard among cryptocurrencies. My little bet on the status as "digital gold".

$ETH (-0,71 %): My focus here is on smart contracts and other applications of blockchain technology. Since many other Chains are based on Ethereum or even implement it, I see it as the basis for many web applications of the future and therefore worth a bet.

$XRP (-0,42 %): I like here that a concrete problem (internat. money transfers) is to be solved and therefore the technology is well tangible for customers, institutions and governments. From my point of view, the concept has good prospects for the future.

Step 4: Give us some insight on how you plan to grow your depot.

Here's where it gets simple: as our family income increases, I'll scale up the ETF savings plans at the current ratio - and end.

In the crypto space, I still have my eye on Cardano, as the project's approach of moving towards absolute decentralization with a scientific approach (reviews, peer reviews, community consensus processes, etc.) appeals to me. However, I am still missing the view for a possible use case in the real world.

Step 5: Don't forget to share with the community what you don't want in your repository, i.e. which tips you can do without.

Individual stocks are not really interesting for me at the moment for the reasons mentioned above.

Also, any suggestions that recommend reducing loan repayments in favor of other investments are hard limits for me. Otherwise, fire away 🙂

Step 6: Share absolute values

Check 🙂