Momentum Global ESG ETF

The portfolio systematically rotates into the 5-8 strongest-momentum UCITS ETFs from an ESG-filtered universe of 39 Xetra-listed ETFs. Ranking: 70% 12-month return (skip-1-month rule) + 30% 3-month return, divided by realised volatility (Sharpe-like score). Permanently excluded: oil, gas, nuclear, Russia, defence & arms. No leverage, no short selling. Concentration caps: Semiconductor theme group max 35% combined, individual positions max 20-25%, Hydrogen max 7.5%, Clean Energy max 10%. Remaining capital routes first to defensive factor ETFs (World Value, Quality, Min-Vol), then to overnight cash (max 25%).