Since then, the strategy has successfully navigated multiple periods of volatility, including the European debt crisis (2010/2011), the oil price shock (2015), and the growth scare of 2018, which, notably, was also linked to early tariff tensions under the Trump administration. These drawdown periods were followed by the first Covid-19 lockdown (2020), stagflation concerns (2022), and the ongoing tariff turmoil (2025). While the current episode is still evolving, recent uncertainty surrounding central bank independence has further unsettled investors.
Across all these ten market corrections — with the exception of the first pandemic lockdown — the Robeco Conservative Equities strategy delivered the expected downside protection. More specifically, while the MSCI World Index experienced an average drawdown of 21.6%, the Robeco strategy averaged just a 14.8% drawdown, reducing relative risk by more than 30%. The ability to limit loss highlights the strategy’s effectiveness in preserving capital and supporting long-term compounding.
Although the strategy may lag during strong bull markets, its consistent downside protection has contributed to better long-term results. From its inception in October 2006 through March 2025 (excluding April data), the strategy has delivered an annualized return of 8.3%, compared to 7.8% for the MSCI World Index, both in EUR. Importantly, it has done so with significantly lower volatility — offering equity investors a smoother, more reassuring ride.
