Is this the MiFID suitability test?
No. Regulated entities must assess you with their own test before advising you or selling certain products. This questionnaire is an educational exercise and has no regulatory value.
Risk profile
Investor risk profile questionnaire
Seven questions about your horizon, your reaction to losses and your experience. The result places you in one of four profiles and shows an illustrative allocation with UCITS ETFs.
Question 1 of 70%
How long do you plan to hold this investment?
Willingness vs capacity to take risk
Willingness is how you feel about a fall; capacity is whether your finances can absorb it. Someone comfortable with volatility but needing the money in two years has a low capacity. A sensible profile respects the lower of the two.
How the result is calculated
Each answer scores from 0 to 3 and the total places you in one of four profiles: conservative, moderate, growth or aggressive. The more conservative the profile, the larger the share of bonds, gold and cash in the illustrative allocation; the more aggressive, the larger the share of global equities and emerging markets.
What the questionnaire does not do
It is not the suitability or appropriateness test that a bank or broker must carry out under MiFID II, and it does not know your income, debts or tax situation. Use it to think about risk before talking to a professional or choosing funds.
Frequently asked questions
Can my risk profile change?
Yes. It usually becomes more conservative as the date you need the money approaches, or after changes in income, family or savings. It is worth repeating the exercise every year or two.
Why does the allocation include gold and cash?
They play a diversification and liquidity role: they tend to behave differently from equities in some crises and give you room not to sell at the worst moment.
Are the ETFs shown a recommendation?
No. They are well-known UCITS ETFs used to illustrate each asset class. Equivalent products from other issuers serve the same role.
Calculators
- Compound interest calculatorHow an initial amount and monthly contributions grow year by year at a constant return.
- Historical DCA calculatorWhat you would have today investing every month in an S&P 500, MSCI World or Nasdaq-100 ETF, with real euro prices.
- Index fund vs ETF tax (Spain)How much the tax-free fund transfer is worth against an ETF, depending on how often you sell.
- Investment fee calculatorWhat TER, custody and purchase fees cost over the long run, compared side by side for up to five products.
- Foreign dividend withholdingWhat you keep from a foreign dividend as a Spanish resident, and how much excess withholding you could reclaim.
- FIRE and withdrawal calculatorHow much capital covers your spending with the 4% rule, and how many years it lasts with inflation-linked withdrawals.
- Inflation calculatorHow much purchasing power cash loses over time, compared with money invested at a given return.
- Historical inflation calculatorWhat an amount from 1960 to today is worth now, with euro-area, Spanish, German or Dutch inflation.