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 (+1%) 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 (-0,71%) taking place? The tech sector is also falling $GOOGL (-0,43%) somewhat, as they have announced high investments. On the other hand $WMT (-1,21%) continues to grow nicely.

In terms of volume, the $BAC (-2,1%) is now out of my top 5. $FAST (-0,18%) The screw manufacturer was already in my top 5 once before and doesn't need to be asked twice.

Also $FDX (-10,43%) 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 (-1,27%) 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 (+5,46%) continues to fall. At -43 %, they set a new negative record in my portfolio. This shows how intense the competition with $LLY (+3,73%) 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 (+1%) 2.59 % (main share portfolio)

$WMT (-1,21%) 1.87 % (main share portfolio)

$FAST (-0,18%) 1.45 % (main share portfolio)

$GOOGL (-0,43%) 1.40 % (main share portfolio)

$FDX (-10,43%) 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 (+5,46%) : 0.35 % (main share portfolio)

$GIS (-1,73%) 0.51 % (main share portfolio)

$HTGC (+2,92%) 5.53 % (main share portfolio)

$BATS (-0,55%) 0.55 % (crypto follow-on deposit)

$CPB (-0,51%) 0.56 % (main share portfolio)

Top-performing individual stocks

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

$AVGO (+1%) : +277 % (main share portfolio)

$WMT (-1,21%) : +112 % (main share portfolio)

$GOOGL (-0,43%) +106 % (main share portfolio)

$NFLX (-2,85%) +95 % (main share portfolio)

$OHI (-1,6%) +88 % (main share portfolio)

Flop performer individual stocks

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

$TGT (-1,27%) : -20 % (main stock portfolio)

$CPB (-0,51%) : -30 % (main share portfolio)

$NKE (-2,51%) -34 % (main share portfolio)

$GIS (-1,73%) -35 % (main share portfolio)

$NOVO B (+5,46%) -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 (-1,6%)

$ZPRG (-0,9%)

$JEPQ (+0,53%)

$BATS (-0,55%)

$ABBV (-1,49%)

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 (-0,1%) +1.79 % (since my start: 68.46 %)

$VUSA (+0,08%) -0.32 % (since my start: 56.83 %)

$IMEU (-1,34%) +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!)

Hello everyone,

I have been following this forum for some time now and have decided to present my experiments and current strategies.

On the one hand, because I want to avoid losing track of things, and on the other hand, to prepare my thoughts for myself and also to get other perspectives and opinions.

Briefly about myself

I am 22 years old and graduated last year with a Bachelor of Engineering in Energy Technology.

I am currently working in a medium-sized company in the energy industry in Germany.

I have been rather frugal with money since I was a child. As I got older, my interest in increasing money wisely grew.

I was also lucky that my uncle opened a junior custody account for me when I was born. As a result, at the age of 18 I already had a small starting portfolio worth around 3,000 euros.

At the beginning, I focused intensively on precious metals and also invested in them. I don't plan to touch these holdings in the long term. If I don't need them, I see them more as a legacy for the next generation. I will buy more from time to time.

Basic start

As a first step, and I am aware that this will be assessed differently, I have taken out a unit-linked pension plan with the savings bank, which I save 150 euros per month.

I also took out a building society savings plan, as I basically want to buy my own home in the long term. I am currently renting.

The building society saver is also 150 euros per month per month.

At the same time, I have been working with neobrokers, from which my current portfolio has gradually developed.

Yes, there are still quite a few stocks in it at the moment. I will probably clean that up in the long term.

1st approach, accumulating ETFs

My first approach was to invest in classic accumulating ETFs.

• World, $XDWD (-0,21%)
• Emerging markets, $EIMI (+0,82%)
• AI and big data, $XAIX (+3,02%)

Smaller side bets were added later.

• Armaments, $DFEN (+0,4%)
• uranium, $U3O8 (-1,67%)
• batteries, $BATG (-0,31%)

I also bought my first individual shares to gain experience. Among other things, I had success with $RHM (+0,98%) . At the same time, I learned how quickly losses can occur if you are not sufficiently diversified, for example with $ABR (+0%) ,$1SXP (+0,33%) and other stocks.

This ultimately led me to my second approach.

2nd approach, dividend strategy

As I already have a pension plan through LBS and don't want to be the richest man in the cemetery, I focused more on a dividend strategy.

The first attempt consisted of the following combination

• $ISPA (-0,84%)
• $VHYL (-1,26%)
• $ZPRG (-0,9%)

The idea came from a business magazine and was aimed at making monthly distributions as even as possible. I also added $QYLE (+0,41%) to gain initial experience with option strategies.

However, as this combination is only diversified to a limited extent and I deliberately wanted to move away from the USA, I adapted my strategy further.

Current strategy

Fixed savings rates

• LBS, retirement provision, 150 euros per month
• Building society, residual debt for future home ownership, 150 euros per month

Dividend strategy with 115.24 euros per month

• $XDWL (-0,29%) , 34 percent
• $IEEM (+0,28%) , 26 percent
• $XAIX (+3,02%) , 13 percent
• $EXSH (-0,72%) , 26 percent

Side bets with 81 euros per month

• $DFEN (+0,4%) , 62 percent
• $BATG (-0,31%) , 10 percent
• $QYLE (+0,41%) , 25 percent

Trading 212 experiment with 100 euros per month

Here I am pursuing the goal of bundling individual shares in a common pot, partially saving them and automatically reinvesting distributions in order to benefit from the compound interest effect in the long term.

I welcome tips and constructive criticism so that I can continue to improve my strategy.

Best regards

Mister Kimo

Some of you have probably already come across one or two posts (of the few I've written so far) - but now I've also realized: It was cheeky to simply deliver content without introducing myself briefly and concisely:

I'm around 50 and have been self-employed in the world of shares since November of this year (so still very fresh). I was previously (and still am) a customer of a Riester-subsidized investment fund. Now I've entered the world of shares without any in-depth knowledge, probably with a rough idea of a strategy (dividends and growth), but still without a plan. On the one hand, my aim is to somehow earn a few euros in the short term with one or two individual shares (perhaps also with derivatives if I dare?), but in the medium term to invest mainly in dividends in order to have a basis here over the next few years that will improve my pension somewhat.

I will probably never achieve complete financial freedom, as the available free capital is not large enough to hope for the moment when this might happen. As a single father currently earning his own money, the money that comes in goes more towards the family and their livelihood. Nevertheless, there are one or two euros that will flow into one or two ETFs or individual shares via a savings plan.

The plan for 2026 therefore looks like this $XAD5 (-1,79%) as a commodity ETC, ETFs such as $ZPRG (-0,9%)
$VHYL (-1,26%) and the $VWCE (-0,05%) will be saved. In addition, individual shares such as $ALV (-2,72%) and $DHL (-6,78%). For the time being, there is not enough free capital to generate meaningful savings rates.

The aim of the game will be to generate monthly dividends in the lower 3-digit range on average by the time you retire. But there are still 17 + x years until then (depending on political direction).

I am curious to see whether this plan will work out and can be adhered to. Until then, I look forward to benefiting from your tips and experience, both passive and active...

A Merry Christmas to you all and a good start to 2026 with, above all, health and contentment with yourselves. As you know, everything else can be sorted out somehow :-)

While I wandered through Rostock and Schwerin, spent a frugal night and found a moment of peace in Schwerin Cathedral, my depots simply carried on doing their thing. No hectic rush, no manual interventions, no nervous glances at my smartphone. The automation of my reinvestments, savings plans and standing orders is simply worth its weight in gold!

And then, right in that moment of silence in the cathedral, a message demanded my attention. It was the moment when the biggest dividend of the month arrived. A sign from the very top, or timing straight out of a picture book? Back home at the end of the month, a new player became apparent in the portfolio, which advanced into the top 5. But catching up with my strongest stock is still a long way off for the new challenger. Time for a review.

Overall performance

For me, November in general was the same as always: steady and boring. I didn't even really notice that the US budget shutdown had ended. Just as well, because business as usual can continue.

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

• TTWROR (month under review): +1.40 % (previous month: +1.39 %)
• TTWROR (since inception): +79,75 %
• IZF (month under review): +18.54 % (previous month: +9.65 %)
• IZF (since inception): +11,22 %
• Delta: +1,211.47 €
• Absolute change: +€2,398.46

Performance & volume

$AVGO (+1%) remains the heavyweight in the portfolio, but as mentioned in the introduction, there is a new challenger that made significant gains in November and has now moved into the top 5. $GOOGL (-0,43%) pulls past $BAC (-2,1%) . They have just delivered. New Gemini and Nano Banana version. The constant new advances in AI are the clear driver here. But watch out! The question in the future will be who will earn money with AI. Will it be those who have integrated it into their products or those who create the basic prerequisites for its use via data centers and hardware? I am curious.

And even if this competition is super exciting, these values are not in my sights, more on that later in the outlook.

Size of individual stock positions by volume in the overall portfolio:

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

$AVGO (+1%) 3.57 % (main share portfolio)

$WMT (-1,21%) 1.75 % (main share portfolio)

$GOOGL (-0,43%) 1.56 % (main share portfolio)

$NFLX (-2,85%) 1.60 % (main share portfolio)

$BAC (-2,1%) 1.46 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

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

$NOVO B (+5,46%) : 0.45 % (main share portfolio)

$GIS (-1,73%) : 0.56 % (crypto follow-on portfolio)

$BATS (-0,55%) 0.57 % (main share portfolio)

$TGT (-1,27%) 0.57 % (main share portfolio)

$MDLZ (-0,11%) 0.59 % (main share portfolio)

Top-performing individual stocks

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

$AVGO (+1%) : +369 % (main share portfolio)

$NFLX (-2,85%) +120 % (main share portfolio)

$GOOGL (-0,43%) +119 % (main share portfolio)

$WMT (-1,21%) +95 % (main share portfolio)

$OHI (-1,6%) + 90 % (main share portfolio)

Flop performer individual stocks

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

$TGT (-1,27%) : -35 % (main share portfolio)

$GIS (-1,73%) : -35 % (main share portfolio)

$NKE (-2,51%) -31 % (main share portfolio)

$NOVO B (+5,46%) -29 % (main share portfolio)

$CPB (-0,51%) -26 % (main share portfolio)

Asset allocation

Equities and ETFs currently determine my asset allocation.

ETFs: 41.3 %

Equities: 58.6 %

Crypto: 0.0 %

P2P: less than 0.01 %

Investments and subsequent purchases

I have invested the following amounts in savings plans:

Planned savings plan amount from the fixed net salary: € 1,030

Planned savings plan amount from the fixed net salary, incl. reinvested dividends according to plan size: € 1,140

Savings ratio of the savings plans to the fixed net salary: 49.75

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

Subsequent purchases/one-off savings plans as cashback annuities from refunds: € 75.00

Subsequent purchases/one-off savings plans as a cashback annuity from bonuses: € 21.98

Subsequent purchases from other surpluses: € 0.00* (additional purchases are only made in December)

Automatically reinvested dividends by the broker: € 2.08 (function is only activated for an old custody account, as I otherwise prefer to control the reinvestment myself)

Unscheduled purchases were made on various securities accounts outside the regular savings plans:

Number of unscheduled purchases: 9

21.98 € for $SPYW (-1,73%)

35.00 € for $SPYW (-1,73%)

40.00 € for $GGRP (-0,8%)

35.00 € for $GGRP (-0,8%)

Passive income from dividends

I received € 113.15 in dividends (€ 82.45 in the same month last year). This corresponds to a change of +37.36 % compared to the same month last year. For a rather weak month, this is a great sum, which I am grateful for and from which I made a small donation in addition to reinvesting, as I did in September and October. Other key figures:

Number of dividend payments: 22

Number of payment days: 10 days

Average dividend per payment: € 5.60

average dividend per payday: € 12.32

The top three payers in the month under review were:

$IWDP (-1,04%)

$ZPRG (-0,9%)

$HTGC (+2,92%)

My passive income from dividends (and some interest) mathematically covered 12.59% of my expenses for the month under review. Acceptable for a weak month with medium-high expenses (by my standards).

Crypto performance

As I play by the cycle theory, I got out of crypto completely in October. The share was previously insignificant in my portfolio anyway, but the harvest has nevertheless been reaped. Only the Oracle of Delphi knows whether I am right with my approach. There was more in an earlier getquin post from me, in which I explained my assumptions and strategy in detail.

So there are no key figures to report. Now it's time to learn and understand.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows the TTWROR in the current month (and since the beginning):

My portfolio: +1.40 % (since I started: +79.75 %)

$VWRL (-0,1%) -0.50 % (since my start: 62.52 %)

$VUSA (+0,08%) -0.48 % (since my start: 58.04 %)

Finally performed better than my chosen benchmark ETFs.☺️

Risk figures

Here are my risk figures for the month under review:

Maximum drawdown: YTD: 17.17% (month under review: 2.34%)

Maximum drawdown duration: 702 days since inception (reporting month: 14 days)

Volatility: YTD: 28.15 % (in the month under review: 2.44 %)

Sharpe Ratio: YTD: 0.39 (in the month under review: 7.63)

Semi-volatility: YTD: 20.91 % (in the month under review: 1.75 %)

The maximum drawdown of 702 days since the beginning is a long period 2022-2023 before the year-end rally began at the end of 2023. Otherwise the figures suit me well.

My Sharpe ratio of 0.39 YTD shows that I have achieved a return of 0.39 units above the risk-free rate per unit of risk.

My vola of 28.15% YTD is the direct footprint of the loud roar and then small cave-in of Trump's tariff policy. It has proven itself again: For me as a long-term investor, what counts is simply staying calm and buying the dip when another dip comes.

Outlook

I still have some money left over from my food and drugstore budget, but I won't be (re)investing it until December with the surpluses I hope to have by then. I've chosen a boring REIT that won't be $O, but still pays out monthly dividends and has long been a position in my portfolio. Strictly speaking, I've seen little or no mention of this stock among the financial tycoons recently. You'll see which one in the next review.

The last point will be a little more personal again. Loyal readers of my reviews will know from the August review that this summer I was diagnosed with aortic ectasia of the ascending aorta near the heart as a result of the bicuspid and insufficient aortic valve. An incidental finding that will be treated with the necessary seriousness through close monitoring and an upcoming operation. And precisely because of this, it is no longer the ticking time bomb that it would be if it were still undetected and possibly larger. The knowledge of this and now my own adjustment to day X is gradually changing my way of thinking. Before the discovery, when I was just a patient with a leaky aortic valve who regained a lot after changing my lifestyle for the better, e.g. exercise, I was influenced by the idea that I had a lot of time to implement what was on my mind. Now I know that I want to get a few things done before the day of the procedure and the lengthy recovery. I am now aware of the issue of time in a whole new way. Why am I writing this publicly? Because I want to show that finances are certainly important, but only one piece of the puzzle of life.

So, that's enough writing. With that in mind, have a wonderful Christmas.

Thank you for reading. Stay healthy and happy!

👉 You can also see my review on Instagram from next week (portfolio review from 8.12.25 and budget review from 9.12.25).

📲 In addition to the portfolio and budget review, there are currently three posts a week: @frugalfreisein

!!! 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 was your month at the depot? Do you have any tops and flops to report? Leave your thoughts in the comments!

My wife has been saving stupidly for a long time. $VWRL (-0,1%)

As the USA and tech share is very high there, we would now like to add 1-2 more ETFs to balance out the portfolio somewhat.

I was thinking of an emerging market ETF and a dividend ETF in order to be broadly diversified across everything.

More specifically, I was thinking of the emerging markets from $VFEM (+0,69%) in particular.

With the dividend ETF, I'm still wavering between the $TDIV (-0,95%) or $ZPRG (-0,9%) .

Your opinion or addition to the ETF?

September was the month in which my account shone like the last rays of summer sunshine! Why? The half-year bonus catapulted this month into the month with the highest income of all time. Of course, the money doesn't go into savings, but is put into the market the following month, because share price growth and dividends beat any consumption. There was also an unexpected refund from the dental supplement, which has already been reinvested. Who says that prophylaxis doesn't bring returns after all?

And what else? Business as usual: preparations for ice swimming started at the end of the month thanks to colder temperatures, daily sport and exercise, a nice community meeting of frugalists and investors. Yes, we talked about dividends rather than the latest fashion. Everything was rounded off with a donation. My portfolios went sideways, but did what they are supposed to do: Generate cash flow. And from this month onwards, there will be additional risk figures presented. A little growth and distribution. Time for a review!

Overall performance

This month was a typical month of consolidation for me. My investments moved sideways with only a very slight increase. Is this a good sign for a year-end rally? There was also an initial cut in the Fed's key interest rate. However, there were no major movements, and Q4 is more likely to be responsible for this. As always, income rained down on the account. My key performance indicators for my overall portfolio at a glance:

• TTWROR (month under review): +1,76 % (previous month: +1.01 %)
• TTWROR (since inception): +76,55 %
• IZF (month under review): +9,64 % (previous month: +12.50 %)
• IZF (since inception): +11,15 %
• Delta: +€615.12
• Absolute change: +€2,635.52

Performance & volume

The rise in the price of $AVGO (+1%) allows my largest single share position to grow further and strengthens its dominance. And the class leader has not spilled the beans in terms of performance since purchase either: +337%! After the $BAC (-2,1%) climbed into the top 5 by volume in the previous month, it remains in this group. The banks are currently doing well. Also$WMT (-1,21%) The retail giant is a reliable dividend payer and an important pillar among my individual stocks. The competitor$TGT (-1,27%) on the other hand, is the red lantern in my portfolio. Despite thefts and sales problems, I see a healthy business model. I am sure that this share will bounce back and continue to invest on a monthly basis.

Size of individual share positions by volume in the overall portfolio:

Share (%) of total portfolio and associated portfolio:

$AVGO (+1%) 3.30 % (main share portfolio)

$NFLX (-2,85%) 1.87 % (main share portfolio)

$WMT (-1,21%) 1.74 % (main share portfolio)

$FAST (-0,18%) 1.72 % (main share portfolio)

$BAC (-2,1%) 1.49 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

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

$SHEL (-1,13%) : 0.41 % (crypto follow-up portfolio)

$NOVO B (+5,46%) 0.50 % (main share portfolio)

$TGT (-1,27%) 0.55 % (crypto follow-on deposit)

$HSBA (-1,1%) 0.58 % (main share portfolio)

$GIS (-1,73%) 0.60 % (main share portfolio)

Top-performing individual stocks

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

$AVGO (+1%) a: +337 % (main share portfolio)

$NFLX (-2,85%) : +153 % (main share portfolio)

$WMT (-1,21%) : +78 % (main share portfolio)

$FAST (-0,18%) +76 % (main share portfolio)

$SAP (+1,85%) +75 % (main share portfolio)

Flop performer individual stocks

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

$TGT (-1,27%) : -38 % (main share portfolio)

$GIS (-1,73%) -31 % (main share portfolio)

$NKE (-2,51%) -27 % (main share portfolio)

$CPB (-0,51%) -24 % (main share portfolio)

$UPS (-11,19%) -24 % (main share portfolio)

Asset allocation

My asset allocation is as follows:

ETFs: 39.1%

Equities: 58.6%

Crypto: 2.2 %

P2P: less than 0.01 %

Investments and subsequent purchases

I have invested the following amounts in savings plans:

Planned savings plan amount from the fixed net salary: € 1,030

Planned savings plan amount from the fixed net salary, incl. reinvested dividends according to plan size: € 1,140

Savings ratio of the savings plans to the fixed net salary: 49.75

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

Subsequent purchases/one-off savings plans as cashback annuities from refunds: € 73.00

Subsequent purchases/non-recurring savings plans as cashback annuities from bonuses/incentives from the KK: € 0.00

Subsequent purchases from other surpluses: € 31.00

Automatically reinvested dividends by the broker: € 5.03 (function is only activated for an old custody account, as I otherwise prefer to control the reinvestment myself)

Additional purchases were made:

Number of additional purchases: 2

73.00 € for $TDIV (-0,95%)

25.00 € for $ZPRG (-0,9%)

Passive income from dividends

My income from dividends amounted to € 139.14 (€ 128.42 in the same month of the previous year). This corresponds to a change of -1.36% compared to the same month last year. The slight decrease is due to the fact that my large Vanguard ETFs postponed the distribution to the following month. The following are further key data on the distributions:

Number of dividend payments: 34

Number of payment days: 17 days

Average dividend per payment: € 4.09

average dividend per payment day: € 8.18

The top three payers are:

$ARCC (+0,61%)

$UPS (-11,19%)

$DXSA (-1,2%)

My passive income from dividends (and some interest) mathematically covered 16.05% of my expenses in the month under review.

Crypto performance

My crypto portfolio ran sideways in September with highs and lows. The hope here lies more in the coming Q4. My key figures:

Performance in the reporting period: +8.66 %

Performance since inception: +135.10

Share of holdings for which the tax holding period has expired: 98.57 %.

Crypto share of the total portfolio: 2.20 %

I am vigilant with regard to crypto. The exit should continue. I don't want to provide the exit liquidity for the other market participants. There will be news in the following month.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows:

TTWROR (current month): +1,76 %

$VWRL (-0,1%) : +2,63 %

$VUSA (+0,08%) : +2,56 %

One possible explanation for the poorer performance compared to the index values could be a higher proportion of individual shares,

New: Risk indicators

Here are my key risk figures for the month under review (and in brackets YTD)

Maximum drawdown: 0.94% (17.17%)

Maximum drawdown duration: 19+ days (231+ days)

Volatility: 1.68% (11.51%)

Sharpe Ratio: 5.73 (0.29)

Semi-volatility: 1.21% (9.04%)

An extremely low drawdown of only 0.94% shows that your portfolio had hardly any fluctuations during the month. This is typical for a sideways phase or stable markets.

The YTD drawdown of 17.17% is no coincidence: Trump's tariffs have mainly affected consumer-related stocks such as $TGT (-1,27%) have been hit. However, my focus on stable dividend payers and broad-based ETFs has limited the losses. The fact is, however, that Trump has put a dent in my figures.

Outlook

As you can see from the introduction, there were no highlights, but there were also no disasters for me to report on. So we're done for this month. Thanks for reading!

However, I still have some questions for you to improve my review:

Are you also interested in the performance and top/flop5 of my ETFs or cryptos? Then let me know in the comments and I'll include it in the coming months.

In my posts on Instagram and also here, I keep talking about my cashback pension. Would you like to know more about the concept, what's behind it for me and how it will supplement my "share and ETF pension"?

My review here on getquin includes additional key figures as well as those from my Instagram reviews. Would you also like to see more from the budget review of my private finances included here as a little extra?

👉 Would you like to view my review as an Instagram Carousel post?

Then follow me on Instagram:

📲 There's also 3 posts a week in addition to the portfolio and budget review: @frugalfreisein

Please pay close attention to the spelling, unfortunately there are too many fake and phishing accounts on social media. I have also been "copied" several times now.

👉 How was your month in the portfolio? Do you have any tops and flops to report?

Leave your thoughts in the comments!

Thanks to @gloinvest for the hint. @lawinvest brings a second calculation for US shares:

Example for US shares:

• You receive 100 $ dividend.
• 15 € will be withheld in the USA. (Provided form W-8BEN has been filed)
• In Germany you pay another $ 25 tax on the $ 100 + $ 1.375 solidarity tax
• But: 15 € are credited → you pay only an additional $11.375.

For the ETF in Ireland:

• You receive $100 dividend.
• 15 € will be withheld in the USA. (at font level)
• In Germany you pay another $14.875 tax on 70% of $85 + $0.8181 solidarity tax
• No crediting of withholding tax

So there is a 4.31% advantage here with direct investment in US shares via an Irish ETF

For countries with higher withholding tax (e.g. Switzerland 35%, France 25%, Italy 26%) it is much more complicated, because the credit is often capped and you have to get the rest via refund procedures.

ETFs often have better withholding tax efficiency because large fund companies can sometimes carry out refunds/reclaims that you would not be able to do as a private investor.

📊 Taxing dividends cleverly - ETF vs. individual share?

( Does this apply to D, other countries too? in AT, funds are taxed at a flat rate ( KEst) in CH there is wealth tax ..... )

You have Colgate in your portfolio and wonder why the dividend of 26,36 % while the same dividend via a dividend ETF is only taxed at 18,46 % is charged? Here is the explanation - and a smart tip for all dividend fans!

💡 The difference: partial exemption for ETFs

Benefit in Germany equity ETFs benefit from the so-called partial exemption:

• 30% of the income is tax-freeif the ETF invests at least 51% in shares.
• This reduces the effective tax burden on dividends from 26.375 % to approx. 18.46 %..

Individual shares such as Colgate, on the other hand, are subject to full withholding tax - despite partial crediting of the US withholding tax.

🧾 Conclusion

🔹 Individual shares = full tax but deduction of withholding tax

Dividend ETFs = tax-optimized, particularly interesting for non-US equities with higher withholding tax. Important for broad diversification!

🔹 Partial exemption = compensation must be calculated to determine whether it is worthwhile.

Can it be an ADVANTAGE in the long term? According to the above calculation, the advantage lies in direct investment for pure US equities, otherwise ETF is simpler and more profitable.

Here are a few examples:

🌍 Global dividend ETFs

• Vanguard FTSE All-World High Dividend Yield UCITS ETF $VHYL (-1,26%)
  ISINIE00B8GKDB10
• Distributing, quarterly
• TER: 0,29 %
• Partial exemption: 30 %
• Invests worldwide in high-dividend companies
• iShares MSCI World Quality Dividend UCITS ETF $WQDS (-0,83%)
  ISIN : IE00BYYHSQ67: IE00BYYHSQ67
• Focus on high quality dividend payers
• TER: 0,38 %
• Distributing, with global diversification
• SPDR S&P Global Dividend Aristocrats UCITS ETF $ZPRG (-0,9%)
  ISIN : IE00B9CQXS: IE00B9CQXS71
• Contains companies with long-term dividend history
• TER: 0,45 %
• Distributing

🇩🇪 Dividend ETFs on German equities

• Deka DAXplus Maximum Dividend UCITS ETF $EL4X (-2,39%)
  ISINDE000ETFL235
• Focus on highest dividend yields in the HDAX
• TER: 0,30 %
• Distributing
• Amundi DivDAX UCITS ETF Dist $E903 (-2,85%)
  ISIN: DE000A0F5UH1
• TER: 0,25 %
• Distributing, based on DivDAX Index

🇺🇸 US dividend ETFs with good withholding tax structure

• Vanguard Dividend Appreciation ETF (VIG) $VIG (-0,51%)
  ISIN: US9219088443
• Focus on high-growth dividend payers
• Attention: US domicile → note withholding tax
• SPDR S&P US Dividend Aristocrats ETF (SDY) $SPYD (-1,35%)
  ISINUS78464A7634
• Contains US companies with at least 25 years of dividend growth

Which ETF do you have in your portfolio? Or why individual shares?

P.S. Before everyone says, it's common knowledge. You can never give out information like this too often. Maybe I heard it 5 years ago, but I haven't thought about it now. Surely others will feel the same way, right?

Good morning,

I am quite new to the subject of investing etc. My knowledge ? I'm sure 99% of you have more.

And that's where I really need help. I am 39 and would like to build up a cash flow with dividends. Yes, I know that investing would be better in the long term. But I realized first hand how a little cold can lead you to the intensive care unit with 9 months of sick leave (including rehab etc).

That's when I realized that you also live in the here and now. Of course I also want to think about tomorrow, but I want to be able to do both. I would like to start with 250€ /month. I have in mind etf like $HMWO (-0,29%) , $VHYL (-1,26%) , $ISPA (-0,84%) ,$TDIV (-0,95%)
$ZPRG (-0,9%) , $EUHD (-1,21%)
$VWRL (-0,1%) in mind.

And yet I am unsure . How much in whom, which one do I take ? should I possibly consider others ? Does the selection make sense at all? Do I want a distribution every month (would be great)?

At the moment I don't need the distribution and would reinvest it.

So many question marks buzzing around in my head .... Do you have any advice?

Thank you very much

August gave us another real midsummer and showed its best side on some days. For me, it was the perfect opportunity to pursue one of my hobbies: Swimming, swimming and swimming again. I enjoyed every minute in the now cooler water. There was no hiking this month, but the swimming made up for it completely. I'm slowly looking forward to cooler temperatures again, because the cold adaptation for ice swimming is already calling! But before we head into fall, it's time for a look back.

Overall performance

After the brief consolidation caused by the new Trump tariffs, my portfolio recovered quickly and showed a stable, slightly positive performance in August. The prospect of interest rate cuts by the Fed provided a small boost, but there were no major movements. Typical summer slump. But, as expected, what had to come arrived on time: the distributions. My key performance indicators for my overall portfolio at a glance:

• TTWROR (month of August): +1.01 % (previous month: +3.82 %)
• TTWROR (since inception): +73,69 %
• IZF (month of August): +12.50 % (previous month: +46.14 %)
• IZF (since inception): +10,79 %
• Delta: +794.74 €
• Absolute change: +1,850.61 €

Performance & volume

My class leader continues to expand its dominance. If this continues, it will soon become a decisive factor in overall performance. The $BOA rises into the top 5 by volume, $SAP (+1,85%) falls back. Rising in terms of performance$MAIN (+0,91%) and there, too, the$SAP (+1,85%) falls back. I also notice something about the winners of the red lantern in terms of performance:$NOVO B (+5,46%) has reached the bottom basement, once one of my very strongest stocks. So the tide is turning. Opportunity to buy more? Instead$CPB (-0,51%) has risen from the cellar. But this share still has a long way to go.

Size of individual share positions by volume in the overall portfolio:

Share (%) of total portfolio and associated portfolio:

• $AVGO (+1%) : 3.30 % (main share portfolio)
• $NFLX (-2,85%) 1.98 % (main share portfolio)
• $WMT (-1,21%) 1.72 % (main share portfolio)
• $FAST (-0,18%) s: 1.69 % (main share portfolio)
• $BOA 1.45 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

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

• $SHEL (-1,13%) : 0.42 % (crypto follow-on portfolio)
• $NOVO B (+5,46%) 0.49 % (main share portfolio)
• $HSBA (-1,1%) 0.54 % (crypto follow-on portfolio)
• $TGT (-1,27%) 0.57 % (main share portfolio)
• $GIS (-1,73%) 0.61 % (main share portfolio)

Top-performing individual stocks

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

• $AVGO (+1%) : +328 % (main share portfolio)
• $NFLX (-2,85%) : +176 % (main share portfolio)
• $FAST (-0,18%) +83 % (main share portfolio)
• $MAIN (+0,91%) : +79 % (main share portfolio)
• $SAP (+1,85%) +74 % (main share portfolio)

Flop performer individual stocks

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

• $TGT (-1,27%) : -36 % (main share portfolio)
• $GIS (-1,73%) -31 % (main share portfolio)
• $UPS (-11,19%) -26 % (main share portfolio)
• $NKE (-2,51%) -25 % (main share portfolio)
• $NOVO B (+5,46%) -21 % (main share portfolio)

Asset allocation

My asset allocation is as follows:

• ETFs: 38.3 %
• Equities: 59.0 %
• Crypto: 2.60%
• P2P: less than 0.01%

Investments and subsequent purchases

Here is a small overview of what I have invested via savings plans according to my fixed planning.

• Planned savings plan amount from the fixed net salary: €1,030
• Planned savings plan amount from the fixed net salary, incl. reinvested dividends: €1,140
• Savings ratio of the savings plans to the fixed net salary: 49.75

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: € 79.00
• Subsequent purchases/one-off savings plans as a cashback annuity from bonuses/incentives from the KK: € 20.00
• Subsequent purchases from other surpluses: € 30.00
• Automatically reinvested dividends by the broker: € 3.01 (this function is only activated for an old custody account, as I otherwise prefer to manage the reinvestment myself)

Additional purchases were made:

• Number of additional purchases: 3
• 55.00 € for $JEGP (-0,93%)
• 
  44.00 € for $GGRP (-0,8%)
• 
  30.00 € for $FGEQ (-0,74%)
• 
  295.08 € for $DXSA (-1,2%) (funds from the sale of a $ETH (+0,09%) tranche)

If you want to know how my cashback pension tops up my share and ETF pension, please write it in the comments.

Passive income from dividends

My income from dividends amounted to €128.42 (€92.61 in the same month last year). This corresponds to an increase of +38,67 % compared to the same month last year. The following is further key data on the distributions:

• Number of dividend payments: 22
• Number of payment days: 12 days
• Average dividend per payment: € 5.83
• average dividend per payment day: € 10.70

The top three payers are:

• $IWDP (-1,04%)
• 
  $ISPA (-0,84%)
• 
  $ZPRG (-0,9%)

My passive income from dividends (and some interest) mathematically covered 14.94% of my expenses in the month under review.

Crypto performance

My crypto portfolio was characterized by the partial sale of a $ETH (+0,09%) tranche as part of my "crypto succession strategy". Around € 298 in Etherium was taken off the table.

Here are some key figures:

• Monthly performance portfolio: +0.29 %
• Performance since inception: +134.35 %
• Share of holdings for which the tax holding period has expired: 98.55 %.
• Crypto share of the total portfolio: 2.20 %

The sale of the tranche explains the decline in the crypto share from 2.6% to 2.2%

As a "follower" of the crypto cycle, I am increasingly accepting the idea that the cycle is still in tact, but is expanding. The reason for this should be the ETF purchases and the activities of the crypto treasury companies. Retail still seems to be asleep. The playing field is very exciting, if only from a macroeconomic perspective. I can only advise looking into the cycle and issues such as money creation and the correlation between the M2 money supply and $BTC. Although I am not a fan of cryptocurrencies, I think they are a sensible component of a balanced portfolio.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows

• TTWROR (current month): +1,01 %
• $VWRL (-0,1%) : -0,33 %
• $VUSA (+0,08%) : -1,13 %

Outlook and a private bonus

My Carousel posts of the portfolio review and budget review always start on the hook slide with a background image from my month. These are usually places I've visited or moments that have moved me. This time it's the same, although a CT scan would almost be more appropriate.

A chest CT confirmed what I had been wondering about for some time: my ascending aorta is dilated. This is a consequence of my congenital heart valve defect. Fortunately, it was discovered early before it could develop into an aneurysm, dissection or even rupture. A classic chance discovery, a stroke of luck. I was able to keep the heart valve "in check" for a long time, and fortunately there are currently no worse findings for it. But the diagnosis of the ascending aorta now brings certainty: an operation will certainly be necessary at some point.

Why am I sharing this here? Because it has taught me humility once again. The diagnosis isn't nice, but it's not a surprise either. Perhaps my v. A. more active lifestyle since corona has contributed to the fact that it is stable today and still allows me to do a lot: sporting activity, which I have fought my way back over the years. The restrictions that already apply to avoid pressure peaks on the aorta are minimal. My quality of life is still very high.

My conclusion: Keep fit, go for check-ups and take your body seriously. Invest in your health and fitness. Our deposits are only worth as much as our health allows us to enjoy them.

So I will be able to visit the cardiologist and radiologist even more regularly in future, an honor! (irony off). Everything will be fine!

👉 You want my review as an Instagram post?

Then follow me on Instagram:

📲 In addition to the portfolio and extra budget review, you'll also find regular posts there: @frugalfreisein

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

👉 How was your August at the depot? Do you have any tops and flops to report?

Leave your thoughts in the comments!