Robeco Smart Materials Z USD

Scarce resources, abundant investment opportunities

Share classes Share classes Every share class of a product invests in the same portfolio of securities and has the same investment objectives and policies. However, their parameters might deviate. For instance and amongst others, their distribution type, currency exposure or fees and expenses might differ. The most common share classes at Robeco are: a) D/DH shares, which are regular shares and available for all Investors; b) I/IH shares, for institutional investors as defined from time to time by the Luxembourg supervisory authority. For more information on share classes please go to the prospectus.

Class and codes

Asset class
Equities
ISIN
LU2501123603
Bloomberg
RBCVGJZ LX

Asset class

Equities

ISIN

LU2501123603

Bloomberg

RBCVGJZ LX

Reference index

MSCI World Index TRN

Sustainability-related information
Sustainability-related information
Under the EU Sustainable Finance Disclosure Regulation, products can be labelled as either Article 6, 8 or 9 fund.
Article 6 - The fund is not in scope of enhanced sustainability disclosures compared to Article 8 and 9.
Article 8 - The fund does not have a sustainable investment objective but promotes environmental or social characteristics and is subject to enhanced sustainability disclosures.
Article 9 - The fund has a sustainable investment objective and is subject to enhanced sustainability disclosures.
Regardless of Article 8 or 9, the companies in which investments are made must follow good governance practices, and sustainable investments must not do any significant harm.

Article 9

Morningstar Morningstar Copyright © Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Download The Morningstar Rating for Funds (chapter: The Morningstar Rating: Three-, Five-, and 10-Year) on the Morningstar website.

Rating

( 31-08 )

Overview Performance & costs Portfolio Sustainability Commentary Documents

Key points

Focus on advanced materials and smart manufacturing that help optimize the use of natural resources within scalable, clean and efficient solutions
Investing in structural winners along the entire materials value chain including efficient and innovative materials, improving manufacturing efficiency solutions and end-of-life valorization of materials
Strong tailwinds from decarbonization and net zero targets, government incentives for reshoring of manufacturing and sourcing, and the shift to more circular practices and sustainability

About this fund

Robeco Smart Materials Equities is an actively managed fund that invests globally in companies that provide innovative materials and process technologies. The selection of these stocks is based on fundamental analysis. The fund has sustainable investment as its objective, within the meaning of Article 9 of the Regulation (EU) 2019/2088 of 27 November 2019 on Sustainability-related disclosures in the financial sector. The strategy integrates sustainability criteria as part of the stock selection process and through a theme-specific sustainability assessment. The portfolio is built on the basis of an eligible investment universe that includes companies whose business models contribute to the thematic investment objectives. The assessment regarding relevant SDGs uses an internally developed framework, more information on which can be obtained at www.robeco.com/si. The fund also aims to achieve a better return than the index.

Key facts

Per 31-08-2025

Total size of fund	USD 400’765’633.43
Size of share class	USD 79’544.32
Inception date share class	2022-07-26
1-year performance	3.92%
Dividend paying	No

Fund manager

Pieter Busscher CFA
Mutlu Gundogan CFA

Pieter Busscher is Portfolio Manager of the Robeco Smart Materials and Robeco Smart Mobility strategies and member of the Thematic Investing team. He started at Robeco in 2007 as a Deputy Portfolio Manager for the Sustainable Water strategy. Pieter became the Portfolio Manager for Smart Materials in 2009; for Smart Mobility he had been Deputy Portfolio for since strategy launch in 2018 and took over the portfolio management responsibilities in 2021. He began his career at Credit Suisse Asset Management in Zurich in 2006. He graduated from the International Business at RSM Erasmus University (Bachelor), the Banking and Finance at the University of St. Gallen (Master) and is a CFA® Charterholder. Mutlu Gundogan is Co-Portfolio manager of the Robeco Smart Materials strategy and member of the Thematic Investing team. Prior to joining in 2021, he worked at ABN AMRO – ODDO BHF as a sell-side equity analyst, covering the European Chemicals sector. Before that, he worked as a sell-side analyst at ABN AMRO and Royal Bank of Scotland covering the Materials, Industrials, and Health Care sectors. He started his career in 2003 at Kempen & Co., where he covered the Industrials, Consumer Staples, and Health Care sectors. Mutlu holds a Master’s in Business Administration from Vrije Universiteit Amsterdam. He is a CFA® Charterholder.

Per period	Fund	Reference index
1 month	5.05%	2.61%
3 months	15.47%	8.41%
YTD	9.96%	13.78%
1 year	3.92%	15.68%
2 years	2.10%	19.98%
3 years	5.75%	18.50%
Since inception 07/2022	5.81%	17.97%

Statistics	3 years	5 Years
Tracking error ex-post (%) The ex-post tracking error is defined as the volatility of the fund's achieved excess return over the index return. In fund management, most managers are subject to an ex-ante (pre-determined) tracking error, which defines the extent of the additional risk they may take when aspiring to outperform the fund's benchmark. The ex-post tracking error explains the distribution of past fund performances compared to those of its underlying benchmark. With a higher tracking error, the fund's returns deviate more from its index's returns, hence there is a greater chance that the fund may outperform. The wider the spread of returns relative to the benchmark, the more "actively" a fund has been managed. In contrast, a low tracking error indicates more "passive" management.	11.72	-
Information ratio This ratio serves to evaluate the quality of the excess return a fund manager has achieved because it takes the active risk involved into account. The information ratio is defined as the excess return over the benchmark return divided by the fund's tracking error. The higher the information ratio, the better. For example, a fund with a tracking error of 4% and an excess return of 2% over benchmark has an information ratio of 0.5, which is quite good.	-1.08	-
Sharpe ratio This ratio measures the risk-adjusted performance and allows the performance quality of different investments to be compared. It is calculated by subtracting the risk-free rate from the fund's returns and dividing the result by the fund's standard deviation (risk). So the Sharpe ratio tells us whether a fund's returns are the result of smart investment decisions or stem from taking extra risk. The higher the ratio, the better, meaning that a greater return is achieved per unit of risk. This ratio is named after its inventor, Nobel Laureate, William Sharpe.	0.04	-
Alpha (%) Alpha measures the difference between a portfolio's actual return and its expected performance, given the level of risk, compared to the benchmark. A positive alpha figure indicates that the fund has performed better than expected, given the level of risk. Beta is used to calculate the level of risk compared to the benchmark..	-14.11	-
Beta Beta is a measure of a portfolio's volatility, or systematic risk, in comparison to the benchmark. A beta of 1 indicates that the portfolio will move with the benchmark. A beta of less than 1 means that the portfolio will be less volatile than the benchmark. A beta of more than 1 indicates that the portfolio will be more volatile than the benchmark. For example, if a portfolio's beta is 1.2 it is theoretically 20% more volatile than the benchmark.	1.38	-
Standard deviation Standard deviation is a measure of the dispersion of a set of data from its mean. The more spread out the data is, the higher the deviation. In finance, standard deviation is applied to the annual rate of return of an investment to measure the investment's volatility (risk).	22.24	-
Max. monthly gain (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	15.84	-
Max. monthly loss (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-11.64	-

Cost of this fund	Percentage
Ongoing charges Indication of annual charges that are deducted for this fund. This indication is based on the costs over the last calendar year and may vary from year to year. Transaction costs incurred by the fund, any performance fees and other one-off costs are not included in the ongoing charges.	0.02%
Included management fee A fee paid by the fund to the asset management company for the professional management of the fund.	0.00%
Included service fee This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.00%
Transaction costs The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.03%

Fiscal product treatment

The fund is established in Luxembourg and is subject to the Luxembourg tax laws and regulations. The fund is not liable to pay any corporation, income, dividend or capital gains tax in Luxembourg. The fund is subject to an annual subscription tax ('tax d'abonnement') in Luxembourg, which amounts to 0.01% of the net asset value of the fund. This tax is included in the net asset value of the fund. The fund can in principle use the Luxembourg treaty network to partially recover any withholding tax on its income.

Fiscal treatment of investor

Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Investors who are subject to Dutch corporate-income tax can be taxed for the result achieved on their investment in the fund. Dutch bodies that are subject to corporate-income tax are obligated to declare interest and dividend income, as well as capital gains in their tax return. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. We advise individual investors to consult their financial or tax adviser about the tax consequences of an investment in this fund in their specific circumstances before deciding to invest in the fund.

Policies

Per 31-08-2025

Market development

Per 31-08-2025

Advanced Materials delivered a solid August, powered by a sharp rebound in Transition Metals – Hudbay Minerals soared on a copper-rich Mitsubishi JV while stabilizing lithium prices lifted Albemarle and SQM – plus steady gains in Energy Storage and Resource Recovery; only Building Efficiency lagged on softer US housing data and a guidance cut at Gibraltar Industries. Specialty Chemicals were little changed as Corning's Apple glass pact offset profit-taking in Thyssenkrupp Nucera. Smart Manufacturing edged higher but trailed the MSCI World. Advanced Equipment led thanks to Innoscience's landmark NVIDIA design win, strong results at Chroma ATE, and Ambarella's edge-AI demand; Industrial Automation was flat, with post-IPO enthusiasm for Geekplus and a beat from Shenzhen Inovance Technology balanced by weakness at Coherent; Industry 4.0 Software fell as investors rotated out of July's AI winners – Autodesk bucked the trend with a guidance raise, while Cadence and Synopsys slipped on profit-taking. Teradyne was up on potential NVIDIA tester demand, which was offset by weakness in Advantest and ASML.

Performance explanation

Per 31-08-2025

Based on transaction prices, the fund's return was 5.05%. Advanced Materials posted a respectable gain in August. The strong rebound in Transition Metals more than outweighed steady gains in Energy Storage and Resource Recovery, leaving Building Efficiency as the lone muted spot. Hudbay Minerals was the standout performer, propelled by a string of positive catalysts: Q2 results topped expectations, and Mitsubishi committed a USD 600 mln investment for a 30% interest in the Copper World project. Those developments drove the shares to their strongest levels in more than a decade. Albemarle and SQM followed suit as spot-lithium prices stabilized and recent supply curtailments in China sparked talk of an earlier-than-expected tightening. Neo Performance Materials climbed after strong Q2 results prompted a full-year EBITDA upgrade and a new multi-year EV-magnet award from a European Tier-1 supplier. The Advanced Equipment subcluster led performance. Innoscience, a global leader in Gallium Nitride power semiconductors, rallied strongly after being included on NVIDIA's supplier list for its next-generation 800 VDC power architecture.

Expectation of fund manager

Pieter Busscher CFA
Mutlu Gundogan CFA

2025 presents a unique opportunity to capitalize on both structural trends and cyclical recovery. Global transitions toward net-zero goals, electrification, and automation and humanoid robots, alongside pro-growth fiscal and monetary policies, are shaping a favorable investment landscape. Expected growth rates remain robust, with projections in the mid-20% range, further supported by the re-emergence of M&A activity across portfolios. Valuation levels also offer attractive entry points, trading below the benchmark.

Robeco Smart Materials Z USD

Scarce resources, abundant investment opportunities

Key points

About this fund

Key facts

Fund manager

Performance

Statistics

Costs

Fiscal product treatment

Fiscal treatment of investor

Fund allocation

Policies

Profile

Sustainability

Market development

Performance explanation

Expectation of fund manager

Fund documents

Annual and Semi-Annual Reports

Announcements

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