October: a great month for stock markets

In October, all Peaks portfolios increased in value, with returns ranging from +1.8% for Cautious to as much as +3.5% for Adventurous. These are very high monthly returns. Thanks to the positive sentiment, all Peaks portfolios are back in positive territory compared to the beginning of this year. The crash in the Spring has been overcome.

Table 1: Net returns of Peaks portfolios

Peaks portfolio	October	2025	Average annual since Peaks launch	Total since Peaks launch
Cautious	1.8%	0.6%	2.4%	21.7%
Balanced	2.3%	1.0%	4.4%	42.4%
Ambitious	2.9%	1.2%	6.5%	66.1%
Adventurous	3.5%	1.5%	8.5%	92.2%

Important to know: These net returns reflect Peaks' portfolios in October 2025, all of 2025 and since the launch of Peaks, after deducting Peaks, fund, and transaction fees. The value of investments can fluctuate, and past performance is no guarantee of future results.

The above figures assume a portfolio value of €10,000 without any deposits or withdrawals. If you made deposits or withdrawals this month, your personal return may differ. Your return will also vary if you have invested less or more than €10,000 due to the monthly fees Peaks charges.

The positive sentiment also affects the risk of your portfolio. Portfolio volatility was significantly lower in October compared to the rest of the year.

Table 2: Risk of Peaks portfolios

Risk (volatility)	October	2025	Avarage annual since Peaks launch
Cautious	3.2%	4.5%	5.5%
Balanced	3.9%	6.7%	7.4%
Ambitious	4.9%	9.4%	9.6%
Adventurous	6.0%	12.3%	12.1%

Important to know: This table shows the risk levels of the 4 Peaks portfolios over different time periods (last month, this year, and the average since Peaks launched). Risk, also known as volatility, reflects the variation in annualised returns and is measured using the standard deviation of daily net returns converted to an annual basis.

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