What explains my outperformance versus the benchmark?

Here are the main reasons your portfolio outperformed the benchmark over the period shown.

Driver	What the data shows
Concentration in strong performers	Your top holdings (largest positions) include Apple Inc., iShares Core MSCI World UCITS ETF and Microsoft Corp. — together they make up 65,64% of the portfolio and contributed large price gains over the period.
Large exposure to Technology	The Technology sector is 39,98% of your portfolio (36.376,92 €), and Technology holdings delivered substantial absolute gains.
Equity growth vs. benchmark	Your portfolio’s owned value rose from the period start to end producing a total gain of +92.985,34 € in absolute terms and a time-weighted return of +45,96%, while the benchmark returned less over the same span (benchmark return shown in your return snapshots).
Positive unrealized gains	The unrealized gain in capital is +21.483,58 € (unrealized return +33,57%), which is a large part of total gains reported in your snapshots.
Selection within equity and ETF buckets	Stocks (49,09%) and ETFs (31,21%) together drive most of the growth; several individual equities and ETFs show high unrealized returns in your holdings list (examples include Microsoft Corp., iShares Core MSCI World UCITS ETF, Xtrackers MSCI USA UCITS ETF 1C).
Smaller negative exposures	A few holdings reduced returns (for example Ethereum shows a negative unrealized return), but their weights are limited compared with your strong winners.

Notes:

• All figures above come from your portfolio snapshots and holdings. The benchmark return is reported in your return snapshots as well; the difference reflects the combination of your asset selection, sector and regional weights, and the large gains in a handful of holdings.
• When the question is about attribution to individual holdings, the holdings’ unrealized gains and the portfolio contribution shares in the holdings snapshot are the direct sources of the outperformance.