Published on June 11, 2026, at 2:14:23 p.m.

RNS Number: 9896H

Vanguard Funds PLC

June 11, 2026

$VUSA (+0,6%) - 0.323568

$VWRL (+0,72%) -0.905474

$VHYL (+1,04%) - 0.926328

@TaubeSmash

https://www.londonstockexchange.com/news-article/market-news/dividend-declaration/17635711

In the last month $RKLB (-12,68%) recovered further and $PNG (-0,51%) steal first place. Meanwhile, the $IREN (+5%) also slowly recovered.

Let's take a look at the current status of the project together Tenbagger der Zukunft together:

As a reminder, the project started with around €2,500, which was divided almost equally between the five titles in the portfolio.

$HIMS (-6,48%) was sold at a loss of almost exactly 50%. For the new value $ONDS (-5,13%) was topped up again to €500 - in the end, 64 shares ended up in the Tenbagger portfolio.

Below are the five values of the project selected by you and their development to date since 12.11.2025:

• Rocket Lab +136% 📈 $RKLB (-12,68%)
• In the last 30 days: +77% 📈
• Kraken Robotics +35% 📈 $PNG (-0,51%)
• In the last 30 days: -13% 📉
• Ondas Holdings +17% 📈 $ONDS (-5,13%)
• In the last 30 days: +16% 📈
• Iris Energy -1% 📉 $IREN (+5%)
• In the last 30 days: +20% 📈
• SoFi Technologies -51% 📉 $SOFI (-0,14%)
• In the last 30 days: -11% 📉

Since inception:

Last 30 days:

_________________________

The beta value is: 2,03

The beta value (β) of a share measures its performance

Marktvolatilität compared to the overall market: a beta of 1 means the share moves in sync with the market; a beta > 1 means it fluctuates more (e.g. at 1.5 it rises or falls by 1.5 % if the market rises/falls by 1 %); a beta < 1 shows less fluctuation, while a beta < 0 indicates an opposite movement to the market. It helps investors to assess the systematic risk (market risk) of a share.

_________________________

Due to the sometimes high volatility, the stocks are represented as follows

Kraken Robotics: 21%

Rocket Lab: 37%

Ondas Holdings: 19%

Iris Energy: 15%

SoFi Technologies: 8%

$ONDS (-5,13%) was able to make up considerable ground thanks to the good figures this week.

_________________________

Yield:

Since the start of the project:

The return on the portfolio is (with taking into account the loss of $HIMS (-6,48%) ) is currently positive and stands at +16,7% 📈, at the last update it was still at+7,5%📈.

The yield reached its lowest point on 21.11. at -17,7% 📉, the high on 16.01. with +23,7% 📈.

Since the beginning of the year (with taking into account the loss of $HIMS ):

+17,9% 📈

_________________________

Below is the trend over the last three months:

(In addition, the former value $HIMS (-6,48%)
and as a reference the $VUSA (+0,6%)
is given, thanks to @Aktienfox )

The dip dribbled out perfectly! With bonus and tax refund, it's now cash flow season. 📈⚽

April showed that consistency is not a fair-weather project. While I was standing in thick fog in Saxon Switzerland and couldn't see the valley from the top of the rocks because of the fog, the depots reflected the turnaround in performance for the better. As soon as the sun broke through, the gray gave way to a lush green.

After a turbulent March, I seized the opportunity when my employer paid out my half-year bonus. I hit the low point very well and dribbled out. Broadcom did exactly what it usually does with my shares: be the engine of growth. The road to freedom is a hike through all kinds of weather. Sometimes the wind whips up, sometimes you enjoy the sunset at Leipziger Völki.

The key is to stubbornly continue investing. Intel is the best example. Anyone who wrote off the share too early missed the turnaround. Unfortunately, I was never invested in Intel. In any case, I don't know the future in five years' time, but I am securing my cash flow today. 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 myself.

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

Overall performance

Intel shows it again. Just keep a broad base and stay tuned. Then your portfolios will turn out to be a rock in the surf.

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

• TTWROR (month under review): + 5.29 % (previous month: -4.60 %)
• TTWROR (since inception): +88,98 %
• IZF (month under review): +87.17 % (previous month: -42.46 %)
• IZF (since inception): +11,49 %
• Delta: + € 4,935.78
• Absolute change: € +6,139.12

Data shown as "since inception" is valid since 31.05.2020

Performance & volume

After the fog lifted in April, the true strength of my allocation became apparent. My top of the class $AVGO (-0,49%) not only leads the green portfolio, but is actually marching ahead. In my top 5 $WMT (+0,55%) and $GOOGL (+0,55%) The $BAC, a stable financial anchor, moved back into the top group. Also $FAST (+0,47%) underpins my strategy of solid industrial stocks with consistency.

The highlight is the run at $TGT (+1,92%) My staying power is paying off massively, the minus has shrunk to just 8%. This is clear proof that discipline pays off in phases of weakness. Target seems to be regaining confidence through improved inventory management.

There are downsides to the current "problem children" $NKE (-1,67%) , $GIS (+1,64%) and $$CPB (+0,2%) which are feeling the headwind. But as long as the dividends flow reliably, I remain relaxed. I invest for the stable cash flow that finances my freedom.

Largest individual share positions by volume in the overall portfolio:

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

$AVGO (-0,49%) 3.26 % (main share portfolio)

$WMT (+0,55%) 1.87 % (main share portfolio)

$GOOGL (+0,55%) 1.67 % (main share portfolio)

$FAST (+0,47%) 1.37 % (main share portfolio)

$BAC (+1,6%) 1.35 % (main share portfolio)

$FDX (+0,21%) 1.29 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

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

$GIS (+1,64%) : 0.40 % (main share portfolio)

$NOVO B (+0,21%) 0.41 % (main share portfolio)

$NKE (-1,67%) 0.44 % (main share portfolio)

$CPB (+0,2%) 0.44 % (main share portfolio)

$DHR (-0,22%) 0.55 % (main share portfolio)

Top-performing individual stocks

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

$AVGO (-0,49%) : +380 % (main share portfolio)

$GOOGL (+0,55%) +149 % (main share portfolio)

$WMT (+0,55%) +118 % (main share portfolio)

$NFLX (-1,14%) +93 % (main share portfolio)

$OHI (+1,2%) : +82 % (main share portfolio)

Flop performer individual stocks

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

$NKE (-1,67%) : -50 % (main share portfolio)

$GIS (+1,64%) -47 % (main share portfolio)

$CPB (+0,2%) : -43 % (main share portfolio)

$NOVO B (+0,21%) -32 % (main share portfolio)

$DHR (-0,22%) -27 % (main share portfolio)

Sector allocation of my individual stocks

My top 6 sectors are:

Consumer goods: 16.47% (previous month: 17.62%)

Miscellaneous: 16.40 % (previous month: 16.60 %)

Technology: 14.18 % [excluding information technology] (previous month: 12.07 %)

Financial sector: 11.55% (previous month: 11.39%)

Transportation: 9.57% (previous month: 9.13%)

Trade: 7.59% (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: 42.8 % (previous month: 42.3 %)

Equities: 57.2 % (previous month: 57.7 %)

Investments and additional purchases

I have invested the following amounts in savings plans:

Planned savings plan amount from the fixed net salary: € 1,070

Savings ratio of savings plans to fixed net salary: 50.20

Planned savings plan amount from the fixed net salary, incl. reinvested dividends according to plan size: € 1,190

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

Repurchases/one-off savings plans as cashback annuities from refunds: € 85.00

Subsequent purchases/one-off savings plans as a cashback annuity from bonuses: € 774.97

Subsequent purchases from other surpluses: € 75.00

Automatically reinvested dividends by the broker: € 3.99 (Function is only activated for an old custody account, as I otherwise prefer to manage the reinvestment myself)

Number of unscheduled additional purchases: 7

Passive income from dividends and ETF distributions

Passive income in the month under review

I received € 192.02 in distributions in the month under review (€ 152.82 in the same month of the previous year). This corresponds to a change of +25.65 % compared to the same month last year. The growth can be explained to a small extent by the new positions in the crypto successor portfolio, the majority comes from continuous investing through savings plans, reinvestment of dividends and other surplus funds.

Number of dividend payments and ETF distributions: 33

Number of payment days: 13 days

Average dividend per payment: € 5.82

average dividend per payday: € 14.77

Passive income YTD

YTD I have received dividends in the amount of € 450.34. If you put this in relation to my annual dividend target of € 2,100, the target achievement of the distribution is 21.44% (target 25.00%). This puts me just below the target, but this will be reversed in the coming months with high dividend payments.

The three calculation methods result in the following distribution yields:

YTD distribution yields: 0.70%

Distribution yields since inception: 4.87 %

Distribution yields YoY: 2.25 %

The slightly falling distribution yield since inception and YoY shows the underpinning price increase. At 0.7% YTD, it shows that my asset accumulation is still comparatively a young project.

The distribution yield fell by 0.87% YoY, while the relative fluctuation was 21.88%. This shows that the distributions are constant, but still fluctuate quite strongly.

My top payers

The top 6 payers in the month under review were:

$VWRL (+0,72%)

$VHYL (+1,04%)

$ISPA (+0,91%)

$HSBA (+1,85%)

$VUSA (+0,6%)

$GSK (+1,28%)

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 €12,156.86 was €303,921.50 (previous month: €305,512.00).

This is the minimum volume my portfolio would need to reach in order to theoretically cover the expenses via a 4% withdrawal. And this figure has fallen 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 7.92 years (previous month 7.41 years) or the equivalent of around 94.98 months (previous month: 88.86 months). Compared to the previous month, it is 0.51 years increased.

So I am effectively about half 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 2.80 years is available. I am still 17.08 years away from my runway target (25 years), which corresponds to the FIRE multiplier. 17.08 years away. So there is still a long way to go to financial freedom, assuming that everything continues as before.

The runway stability of 97.46% indicates that my system is in a solid position despite the market turbulence. Although the price fluctuations have advanced my theoretical range by a minimal 0.51 years, the high stability ratio proves that the core of my strategy remains unaffected.

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: -4.60 % (since I started: +88.49 %)

$VWRL (+0,72%) -5.55 % (since my start: 62.19 %)

$VUSA (+0,6%) -4.05 % (since my start: 53.23 %)

$IMEU (+0,01%) -6.87 % (since I started: 74.05 %)

Data shown as "since I started" is considered to be since 31.05.2020

Key risk figures

Here are my key risk figures for the month under review:

Maximum drawdown:

Since inception: 17.17 %

Month under review: 0.67

Maximum drawdown duration:

since inception: 702 days

Reporting month: 7+ days

Volatility:

since inception: 28.66

Month under review: 2.64 %

Sharpe Ratio:

since inception: 0.41

in the month under review: 41.68

Semi-volatility:

since inception: 21.26

Month under review: 1.59

The maximum drawdown in April of just 0.67 % clearly shows that the dust has settled. While March was still characterized by a correction, the impact in April was minimal. The Sharpe ratio of an impressive 41.68 in the month under review underlines the excellent risk-adjusted performance in this recovery phase.

With a monthly volatility of 2.64% and a semi-volatility of 1.59%, the fluctuations remain far below the historical average of over 28%. This confirms once again that my system is stable. While the long-term key figures are barely moving, I am using the calm to further consolidate my foundations. The focus remains on cash flow, while the risks remain absolutely controlled.

Outlook

After the implementation month of April, I look back with deep satisfaction. The employer bonus and the tax refund have been a real turbo boost for the market. I am extremely grateful for the opportunity to be able to fully invest such sums in order to massively broaden my passive income base.

Privately, April was the calm after the storm. A balanced month, characterized by stability and little hustle and bustle. Like hiking in Saxon Switzerland, the fog has lifted and allowed me to focus on the essentials. This calm is also reflected in my sport. My workouts and running sessions are now so ingrained, it's as if they've been automated. Without much motivational debate, I stubbornly and steadily follow my program, allowing my strength and endurance to grow almost automatically. And the words "stubborn" and "steady" are an important basic rule for us investors that we have internalized for investing. So you can see that these words dominate many areas of life.

I conclude this review with a feeling of serenity. When the foundation is right and the habits are in place, the noise on the markets loses its terror. Those who know their course will not be swayed by the wind.

Thank you for reading. Here's to May continuing to be a constant merry month! ☀️

👉 My related Instagram Carousel posts for the review will be published as follows:

08.05.2026: Portfolio review (Key performance indicators, share performance, allocation, sectors, additional purchases and performance comparisons)

09.05.2026: Budget review (Income, expenditure, cash flow, ratios, budget compliance and citizen's income check)

10.05.2026: Cash flow review (general, YTD and actual vs. target comparison of passive income, my top spenders, FIRE figure and capital reach)

📲 There you can find @frugalfreisein on Instagram and YouTube with regular videos, shorts, reels and carousel posts.

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.

👉 How do you personally feel the stock market year has started? (No investment advice!)

TLDR: Increasingly antifragile due to the March storm and focus on turnaround candidates. 😊

March showed me once again that consistency is not a fair-weather project. While I was out and about on the Baltic coast between sleet showers and sunshine, a storm of its own was raging on the markets. Geopolitical tensions caused red signs and a drop of 4.6% in the portfolio. A cause for concern for many, but for me an important test run for my system, which becomes a little more anti-fragile with each of these setbacks.

On the pier in Graal-Müritz, I realized that the road to freedom is long and sometimes the wind whips you in the face. But if you keep your focus and don't let short-term waves in the TTWROR or IZF get in your way, you'll get there. This month, heavyweights like Alphabet and FedEx flew out of the top 5, while Exxon moved forward as a defensive anchor and my Target position is increasingly proving to be a turnaround machine.

Are you ready to dive deep into the numbers and see how my portfolio is gaining strength in the storm? Then grab a warm cup of tea and join me on the pier. Because no matter how much it storms. Mien Kopp is clear and de Kurs steiht! Time for a look back.

DISCLAIMER/RISK WARNING

Please remember that this article is for entertainment purposes only. At no point does it constitute a recommendation to buy or sell 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 myself.

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

Overall performance

Let the others panic. If you are broadly positioned, your portfolios will turn out to be a rock in the surf.

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

• TTWROR (month under review): -4.60% (previous month: +3.47%)
• TTWROR (since inception): +79,83 %
• IZF (month under review): -42.46 % (previous month: +55.90 %)
• IZF (since inception): +9,91 %
• Delta: -4,407.47 €
• Absolute change: € +2,428.28

Data shown as "since inception" is valid since 31.05.2020

Performance & volume

My class leader $AVGO (-0,49%) is taking a breather after the rally, while a slight correction is noticeable in the tech sector as a whole. This makes room for the defensive. For the first time ever $XOM (+0,21%) made it into my top 5 by volume. The energy giant serves as an important anchor of stability in the current market environment and offsets the fluctuations of the growth stocks.

It also $FAST (+0,47%) is consistently making its way back into the top 5 and underlines my strategy of focusing on solid industrial stocks when the markets become more turbulent. Meanwhile $GOOG (+0,58%) and $FDX (+0,21%) are leaving the ranks of the highest-volume positions for the time being.

Particularly motivating is the development of $$TGT (+1,92%) . My staying power with this turnaround candidate appears to be paying off. The minus has been reduced from 35% to just 13%. This is proof that consistent buying during periods of weakness pays off in the long term. The problem children at the end of the chain such as $NOVO B (+0,21%) , $GIS (+1,64%) and $CPB (+0,2%) are currently facing a strong headwind, but as long as cash flows remain stable, I can sleep soundly, despite a minus of 40%.

Largest single stock positions by volume in the overall portfolio:

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

$AVGO (-0,49%) 2.61 % (main share portfolio)

$WMT (+0,55%) 1.92 % (main share portfolio)

$FAST (+0,47%) 1.51 % (main share portfolio)

$NFLX (-1,14%) 1.40 % (main share portfolio)

$XOM (+0,21%) 1.37 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

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

$NOVO B (+0,21%) 0.36 % (main share portfolio)

$GIS (+1,64%) 0.45 % (main share portfolio)

$CEU (-0,11%) 0.49 % (main share portfolio)

$NKE (-1,67%) 0.56 % (main share portfolio)

$HTGC (+0,37%) 0.58 % (main share portfolio)

Top-performing individual stocks

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

$AVGO (-0,49%) : +264 % (main share portfolio)

$WMT (+0,55%) +110 % (main share portfolio)

$NFLX (-1,14%) +103 % (main share portfolio)

$GOOGL (+0,55%) +92 % (main share portfolio)

$FAST (+0,47%) +75 % (main share portfolio)

Flop performer individual stocks

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

$DHR (-0,22%) : -23 % (main stock portfolio)

$CPB (+0,2%) -40 % (main share portfolio)

$NKE (-1,67%) -42 % (main share portfolio)

$NOVO B (+0,21%) : -42 % (main share portfolio)

$GIS (+1,64%) -44 % (main share portfolio)

Sector allocation of my individual stocks

My top 6 sectors are

Consumer goods: 17.62

Miscellaneous: 16.60

Technology: 12.07 % [excluding information technology]

Financial sector: 11.39

Transportation: 9.13

Trade: 7.50

Asset allocation

Equities and ETFs currently determine my asset allocation.

ETFs: 42.3 %

Equities: 57.7 %

Investments and additional purchases

I have invested the following amounts in savings plans:

Planned savings plan amount from the fixed net salary: € 1,070

Savings ratio of savings plans to fixed net salary: 50.20

Planned savings plan amount from the fixed net salary, incl. reinvested dividends according to plan size: € 1,190

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 a cashback annuity from bonuses: € 160.00

Subsequent purchases from other surpluses: € 29.99

Automatically reinvested dividends by the broker: € 7.09 (Function is only activated for an old custody account, as I otherwise prefer to control the reinvestment myself)

Number of unscheduled additional purchases: 2

Passive income from dividends and ETF distributions

Passive income in the month under review

I received € 173.27 in distributions in the month under review (€ 116.96 in the same month of the previous year). This corresponds to a change of +48.14 % compared to the same month last year. The growth can be explained to a small extent by the new positions in the crypto successor portfolio, the majority comes from continuous investing through savings plans, reinvestment of dividends and other surplus funds.

Number of dividend payments and ETF distributions: 34

Number of payment days: 16 days

Average dividend per payment: € 5.10

average dividend per payday: € 10.38

Passive income YTD

YTD I have received distributions in the amount of € 450.34. If you put this in relation to my annual dividend target of € 2,100, the target achievement of the distribution is 21.44% (target 25.00%). This puts me just below the target, but this will be reversed in the coming months with high dividend payments.

The three calculation methods result in the following distribution yields:

YTD distribution yields: 0.50 %

Distribution yields since inception: 4.96 %

Distribution yields YoY: 2.27 %

This means that my overall portfolio has already returned around 5% of my initial investment, half a percent this year and a little under 2.5% within a year. This shows the comparatively young age of my investment.

The distribution yield grew by 2.32% YoY, while the relative fluctuation was 20.86%. This reflects the sharp jump in the distribution compared to March '25.

My top payers

The top 5 payers in the month under review were:

$IMEU (+0,01%)

$ARCC (+0,85%)

$HTGC (+0,37%)

$UPS (-0,17%)

$NOVO B (+0,21%)

FIRE Number & Runway

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

My FIRE figure based on my 12-month spending (TTM) of €12,220.48 was €305,512.00. That's the minimum my portfolio would need to reach to theoretically cover expenses via a 4% withdrawal.

Of course, this figure fluctuates every month. But it is 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 7.41 years or the equivalent of around 88.86 months. Compared to the previous month, it is 0.08 years years. So I am effectively about one month less "free" due to current global political events.

Compared to the same month last year, there is an increase of 2.12 years compared to the same month last year. From my runway target (25 years), which corresponds to the FIRE multiplier, I am still 17.59 years away. So there is still a long way to go to financial freedom, assuming that everything continues as before.

The runway stability of 97.08% indicates that my system is in a solid position despite the market turbulence. Although the price fluctuations have reduced my theoretical range by a minimal 0.08 years, the high stability ratio proves that the core of my strategy remains unaffected.

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: -4.60 % (since I started: +88.49 %)

$VWRL (+0,72%) -5.55 % (since my start: 62.19 %)

$VUSA (+0,6%) -4.05 % (since my start: 53.23 %)

$IMEU (+0,01%) -6.87 % (since I started: 74.05 %)

Data shown as "since I started" is considered to be since 31.05.2020

Key risk figures

Here are my key risk figures for the month under review:

Maximum drawdown:

Since inception: 17.17 %

Month under review: 5.79

Maximum drawdown duration:

since inception: 702 days

Month under review: 29+ days

Volatility:

since inception: 28.54

Month under review: 3.10

Sharpe Ratio:

since inception: 0.36

in the month under review: -14.14

Semi-volatility:

since inception: 21.20

month under review: 2.25

The maximum drawdown in March of 5.79 % shows that the wind was blowing much rougher on the stock market this month. With a drawdown duration of over 29+ days for the whole of March, my portfolio is in a real correction phase. But this is where the wheat is separated from the chaff. While others are getting nervous, I see my system becoming a little more antifragile with each of these stress tests.

The negative Sharpe ratio of minus 14.14 in the month under review is a purely statistical result of the price setbacks. It is much more important to look at the big picture. Since the beginning, the Sharpe ratio has been a solid 0.36. This means that over time I continue to collect returns above the risk-free interest rate, while I calmly ride out the fluctuations.

The volatility of 3.10 % in March is interesting. Although it is higher than in the previous month, it is still far below the historical average of over 28 %. The semi-volatility of 2.25 % also confirms to me that the actual downside risks remain absolutely controlled despite the stormy market situation.

My conclusion for this month? The strategy is in place. A drop in the share price with simultaneous cash flow growth of 48% is no cause for concern for me, but a sign that the engine room is running at full speed. While share prices tremble briefly, I am continuing to build my foundations for the future.

Outlook

After enjoying the stormy seas in Graal-Müritz in March, April will be a month of implementation. My system is ready. The provisions and the substantial AG bonus are on the starting line and will flow directly into the market to take advantage of the current sales. If you want to know which individual stocks I'm focusing on in particular, stay tuned! 😊

In my personal life, March was dominated by my vacation in Mecklenburg. Consciously switching off at the Baltic Sea and spending time in my mother's homeland, where I indulge in so many childhood memories, recharged my batteries.

And when it comes to sport and exercise, it has once again shown how valuable fixed routines are. Even on days when my motivation was at rock bottom, my discipline ensured that I kept up my sports sessions. Whether full-body workouts with weights at home or running outside. Consistency on a small scale creates the basis for big successes.

When it comes to AI, I naturally keep my finger on the pulse. The combination of Gemini and NotebookLM has become an indispensable part of my workflow. Listening to my monthly closing as an audio deep dive or visualizing complex metrics in clickable dashboards not only saves me time, but also gives me completely new insights into my data. This forward momentum drives me to get the most out of technology to further automate my freedom.

I end this review with a feeling of deep satisfaction. The combination of frugal serenity and a growing cash flow gives me the freedom to relax and look to the horizon. No matter how much it storms on the stock markets. If you know your course, you won't be swayed by the wind.

Thank you for reading. And now off to a profitable April! ☀️

👉 My related Instagram Carousel posts for the review will be published as follows.

07.04.2026: Portfolio review (performance figures, share performance, allocation, sectors, additional purchases and performance comparisons)

08.04.2026: Budget review (income, expenditure, cash flow, ratios, budget compliance and citizens' allowance check)

09.04.2026: Cash flow review (general, YTD and actual vs. target comparison on passive income, my top spenders, FIRE number and capital reach)

📲 There are also currently three posts a week: @frugalfreisein. Instagram reels and YouTube shorts currently appear irregularly under channels of the same name, the same applies to videos.

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.

👉 How do you personally feel the stock market year has started? (No investment advice!)

TLDR: Long, but with even more metrics. 😊

February may be the shortest month of the year, but there are no short breaks when it comes to building wealth. While Father Frost came knocking again outside before early spring, I used the time to push ahead with my plans. After the imperfect start in January, this month was all about one thing: sticking with it! Whether it was braving the cold on an evening run, lifting weights, shooting new videos or creating new Carousel posts (even in wooden class on the train), or looking at my depot. Time and time again, it turns out that consistency is one of the keys to success. When discipline is developed, automation runs like clockwork and frees my mind for new ideas and projects related to financial freedom.

While I was enjoying my frugal vacation in MV, it rained not only water but also dividends from the sky as the thaw set in. Do you want to know what's been happening in the engine room of my portfolio and are you interested in a whole new set of metrics for my passive income?

Then it's time for a nice look back, because the bad weather is really getting on my nerves.

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 myself.

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

Overall performance

I would like to repeat a fact from my last review. Automation is king. When everything runs by itself, you have room in your head for the finer things in life. Or to do the right thing. More on that at the end.

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

• TTWROR (month under review): +3.47 % (previous month: +1.64 %)
• TTWROR (since inception): +88,49 %
• IZF (month under review): +55.90 % (previous month: +21.13 %)
• IZF (since inception): +12,50 %
• Delta: +3,172.19 €
• Absolute change: € +4,396.52

Data shown as "since start" is valid since 31.05.2020

Performance & volume

My class leader $AVGO (-0,49%) loses some weight in the portfolio, but remains in first place in terms of volume and performance. The stock has been running very hot recently. Perhaps the semiconductor market is currently undergoing a rotation to $NVDA (+0%) taking place? The tech sector is also falling $GOOGL (+0,55%) somewhat, as they have announced high investments. On the other hand $WMT (+0,55%) continues to grow nicely.

In terms of volume, the $BAC (+1,6%) is now out of my top 5. $FAST (+0,47%) The screw manufacturer was already in my top 5 once before and doesn't need to be asked twice.

Also $FDX (+0,21%) also climbs back into my top 5. The logistics giant had a strong performance in February. Maybe it has to do with the tariff-refund issue or a sector rotation from tech to industrials? They are also spinning off their freight division, further fueling cost-cutting fantasies. That means more cash flow for the "purple ones".

If I take a look at my weakest performers, I notice that the minus at $TGT (+1,92%) continues to improve. I'm particularly pleased about this, as I always put a little more money in the savings plans for this stock in times of hunger. On the other hand $NOVO B (+0,21%) continues to fall. At -43 %, they set a new negative record in my portfolio. This shows how intense the competition with $LLY (-2,25%) has become in the meantime.

Largest individual share positions by volume in the overall portfolio:

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

$AVGO (-0,49%) 2.59 % (main share portfolio)

$WMT (+0,55%) 1.87 % (main share portfolio)

$FAST (+0,47%) 1.45 % (main share portfolio)

$GOOGL (+0,55%) 1.40 % (main share portfolio)

$FDX (+0,21%) 1.31 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

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

$NOVO B (+0,21%) : 0.35 % (main share portfolio)

$GIS (+1,64%) 0.51 % (main share portfolio)

$HTGC (+0,37%) 5.53 % (main share portfolio)

$BATS (+1,83%) 0.55 % (crypto follow-on deposit)

$CPB (+0,2%) 0.56 % (main share portfolio)

Top-performing individual stocks

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

$AVGO (-0,49%) : +277 % (main share portfolio)

$WMT (+0,55%) : +112 % (main share portfolio)

$GOOGL (+0,55%) +106 % (main share portfolio)

$NFLX (-1,14%) +95 % (main share portfolio)

$OHI (+1,2%) +88 % (main share portfolio)

Flop performer individual stocks

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

$TGT (+1,92%) : -20 % (main stock portfolio)

$CPB (+0,2%) : -30 % (main share portfolio)

$NKE (-1,67%) -34 % (main share portfolio)

$GIS (+1,64%) -35 % (main share portfolio)

$NOVO B (+0,21%) -43 % (main share portfolio)

Sector allocation of my individual stocks [NEW!]

My top 6 sectors are:

Consumer goods: 18.19%

Miscellaneous: 16.78 %

Technology: 11.92 % [without information technology]

Financials: 11.24

Transportation: 9.61

Trade: 7.13 %

Asset allocation

Equities and ETFs currently determine my asset allocation.

ETFs: 42.0 %

Equities: 58.0

Investments and subsequent purchases

I have invested the following amounts in savings plans:

Planned savings plan amount from the fixed net salary: € 1,040

Savings ratio of savings plans to fixed net salary: 48.80

Planned savings plan amount from the fixed net salary, incl. reinvested dividends according to plan size: € 1,060

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: € 55.00

Subsequent purchases/one-off savings plans as a cashback annuity from bonuses: € 39.97

Subsequent purchases from other surpluses: € 0.00

Repurchases from dissolved tax reserve: € 107.98

Automatically reinvested dividends by the broker: € 2.51 (function is only activated for an old custody account, as I otherwise prefer to control the reinvestment myself)

In the month under review, only the fixed savings plans were executed.

Number of unscheduled additional purchases: 4

Passive income from dividends and ETF distributions

Passive income in the month under review

I received € 101.65 in distributions in the month under review (€ 97.31 in the same month of the previous year). This corresponds to a change of +4.46 % compared to the same month of the previous year. Two distributions will fall in the following month, which is reflected in the low to moderate distribution growth YoY.

Number of dividend payments and ETF distributions: 21

Number of payment days: 10 days

Average dividend per payment: € 4.84

average dividend per payday: € 10.17

Passive income YTD [NEW!]

YTD I have received distributions in the amount of € 274.37. If you put this in relation to my annual dividend target of € 2,100, the target achievement of the distribution is 13.07% (target 16.67%). This means that I am just below the target, but this will be turned around by the coming March, which has a higher payout.

The three calculation methods result in the following distribution yields:

YTD distribution yields: 0.31 %

Distribution yields since inception: 4.71 %

Distribution yields YoY: 2.25 %

This means that my overall portfolio has already paid me back around 5% of my initial investment, less than half a percent this year and over 2% within a year. This reflects the comparatively young age of the investment.

The distribution yield grew by 0.89 % YoY. Not a big jump, but a sign of calm, steady dividend growth. The money is working more efficiently than a year ago.

My top payers

The top 5 payers in the month under review were:

$OHI (+1,2%)

$ZPRG (+0,52%)

$JEPQ (+0,23%)

$BATS (+1,83%)

$ABBV (+0,8%)

FIRE number [NEW!]

I calculate my FIRE figure from the rolling 12-month expenses (TTM) multiplied by a factor of 25. Even if I don't want to sell any shares later, I use this reciprocal value of the classic 4% withdrawal rate as a conservative guide.

With my current 12-month expenditure of €12,226.88, this results in a FIRE figure of €305,672.00. This is the minimum volume that my portfolio would have to reach in order to theoretically cover my expenses with a 4% withdrawal.

Of course, this figure fluctuates with my lifestyle. But it is not the only metric to determine how long my assets would last in an emergency.

Spending range (runway) [NEW!]

Another method for determining how long I can manage to cover my expenses from my assets is the rolling spending rangealso known as runway also known as the runway. On an annual basis, this is currently 7.49 years or the equivalent of around 89.9 months. Compared to the previous month, it has increased by 0.33 years years. So I am effectively about four months longer "free".

Compared to the same month last year, the increase is even 1.92 years. Although this figure could be even higher, the setbacks caused by the economic policy uncertainties in the TTM period are dampening the trend somewhat. I am still 17.51 years away from my runway target (25 years), which corresponds to the FIRE multiplier. 17.51 years away. This makes it clear that, despite the great progress I have made, I am still at the beginning of my path to complete financial freedom.

The runway stability of -0.22 indicates that my range is currently fluctuating slightly and is not yet stable in an absolutely steady upward trend. A negative value here indicates that the volatility of capital or short-term spending spikes in the rolling period are still slowing down the continuity of growth somewhat.

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: +3.47 % (since I started: +88.49 %)

$VWRL (+0,72%) +1.79 % (since my start: 68.46 %)

$VUSA (+0,6%) -0.32 % (since my start: 56.83 %)

$IMEU (+0,01%) +3.92 % (since I started: 84.27 %)

As in the previous month, things are continuing to go up for me, while the USA is faltering. 🤗

Data marked with "since my start" is valid since 31.05.2020.

Key risk figures

Here are my key risk figures for the reporting month:

Maximum drawdown:

since inception: 17.17

Month under review: 0.87

Maximum drawdown duration:

since inception: 702 days

Month under review: 14 days

Volatility:

since inception: 28.36

Month under review: 2.02

Sharpe Ratio:

since inception: 0.41

in the month under review: 27.72

Semi-volatility:

since inception: 21.07

month under review: 1.48

The maximum drawdown of 702 days since the beginning still reminds me of the intensive phase between 2022 and 2023 before the big recovery began. In February, the drawdown was absolutely negligible at just 0.87 %. This clearly shows how stable my portfolio currently was in the icy wind.

My Sharpe ratio is particularly striking this month, having shot up to 27.72. Even if this is of course an upward statistical outlier, it reflects the extremely positive performance combined with very low volatility. Since the beginning, the Sharpe ratio has been a solid 0.41. This means that for every unit of risk, I continuously collect returns above the risk-free interest rate.

Volatility in February was extremely low at 2.02% compared to the 28.36% since the beginning. Even the semi-volatility was only 1.48 %. For me, this is a clear signal: although my portfolio fluctuates minimally, the actual risk of loss remains at a very low level.

What is the conclusion for this month? The confirmation of my strategy: think long-term, let the automation run like clockwork and use the time for new projects. February was a month of stability and growth. This is exactly how it should continue!

Outlook

After setting the course in February, March will be a month of implementation. The provisions for the advance lump sum have already been successfully transferred to the markets. I will transfer a small refund still to be expected to the markets in March, and perhaps I will also be able to look forward to another bonus, which will also be invested. If you want to know which individual stocks are particularly in focus this month, then stay tuned! 😊

When it comes to AI, I will of course keep my finger on the pulse. NotebookLM in conjunction with Gemini has become an absolute game changer for me. It's easy to create a clickable dashboard from prepaid sources that come together in a table, turn your own monthly statement into an audio DeepDive, or get to know completely new metrics that are wonderfully explained. There's still so much to discover when it comes to AI and this forward momentum drives me to make the most of the new technical possibilities and further automate my workflows.

As in the previous month, I'll end this review with a political topic that doesn't really belong here. Nevertheless, I would like to use my small reach to draw attention to an important event. In February, there was an impressive mass demonstration by Iranians in Munich. It was absolutely peaceful. The participants collected their garbage and played our anthem out of gratitude and humility. They thanked the police, not only with words but also with roses. There were no riots and no damage to property. That is absolutely impressive and I think you appreciate that as much as I do.

The word free appears in my branding. Even if it's in a different context there, this little word is my personal concern this month. We can be glad that the exiled Iranians live with us. They and the suffering of their compatriots remind us time and again how infinitely valuable our Western values of freedom, self-determination and democracy are.

In Iran, we are experiencing people who want so much to simply live in freedom like us. Free from religious oppression, free from violence and free from the indoctrination of hatred and terror. They want this so much that they even ask for intervention from the Americans and Israelis and advocate attacks on the regime's positions in their homeland. We have to understand that for them, the rocket fire and bombing is a much lesser evil than having to live in this Islamist hell for even one more day. We must understand that our Western values cannot be taken for granted and that we must take a stand now. An attitude towards our values and an attitude towards those who long for the end of this dictatorship. That is my most important learning for the past month.

I wish the people of Iran, who are still risking everything, that they will finally be freed from this criminal regime. They should finally get to know what is so commonplace for us: democracy, human rights (especially women's rights) and, quite simply, freedom. They deserve it after 47 years of oppression, violence and terror. I sincerely wish them all the best and all the happiness in the world on their path to peace and self-determination. 🍀

Thank you for reading. And now let's start the spring march! ☀️

👉 My related Carousel posts for the review will be published as follows.

08.03.2026: Portfolio review (Key performance indicators, share performance, allocation, sectors, additional purchases and performance comparisons)

09.03.2026: Budget review (income, expenditure, cash flow, ratios, budget compliance and citizen's income check)

10.03.2026: Cash flow review [NEW!] (general, YTD and actual vs. target comparison for passive income, my top spenders, FIRE figure and capital reach)

📲 There are also currently three posts a week: @frugalfreisein. Instagram reels and YouTube shorts currently appear irregularly under channels of the same name, the same applies to videos.

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.

👉 How do you personally feel the stock market year has started? (No investment advice!)