MultiPlus: Germany's first multi-asset portfolio of active ETFs

With MultiPlus, UnitPlus is launching a new chapter in digital investing in partnership with Goldman Sachs Asset Management. Following the success of AktienPlus, the first active ETF portfolio in Germany, the first multi-asset portfolio comprising active ETFs now follows – a milestone for private investors.

What are active ETFs?

ETFs (Exchange Traded Funds) typically track an index passively, such as the MSCI World, and simply purchase all the securities contained therein according to their respective weightings. Active ETFs go one step further: a fund management team makes targeted decisions regarding which securities are included in the fund, with the objective of outperforming the benchmark index after costs.

In doing so, active ETFs retain the classic advantages of an ETF: they are continuously traded on the stock exchange, offer transparent composition, and are generally significantly more cost-effective compared to traditional actively managed funds. Active ETFs thus combine the flexibility and cost efficiency of a classic ETF with the return potential of an actively managed investment approach.

MultiPlus – Innovation Meets Investment

MultiPlus is more than a traditional portfolio: it combines the proven multi-asset strategy of 70% equities and 30% bonds – also known as a world portfolio – with the flexibility and potential of active ETFs. In doing so, UnitPlus is setting a new standard in digital wealth management by making institutional expertise and technological innovation accessible to everyone.

The innovative power is particularly evident in the combination of:

●      Active Management: Goldman Sachs fund managers leverage their experience to selectively capitalize on market opportunities.

●      Digital Execution: Investors benefit from a transparent, flexible, and cost-efficient product within the UnitPlus app.

●      European Focus: Approximately 50% of the allocation is dedicated to European markets – serving as a counterweight to the US dominance of classic ETFs.

MultiPlus is therefore a prime example of how digital platforms and modern asset management merge to offer institutional-grade products to private investors.

The Key Advantages of MultiPlus

●      Attractive Return Opportunities: Active ETFs aim to outperform their benchmark net of costs, thereby offering above-average potential.

●      Global Diversification: Investments in equities and bonds worldwide ensure a stable, broadly diversified portfolio.

●      Cost Efficiency: Professional management and low-cost ETF structures are cleverly combined.

●      Flexibility: MultiPlus can be optimally combined with other UnitPlus strategies, such as AktienPlus.

While AktienPlus focuses on a growth-oriented equity portfolio, MultiPlus expands the spectrum to include bonds, offering an even more robust solution for long-term wealth accumulation. Investors who combine both strategies can customize their risk profile while simultaneously benefiting from the opportunities of active ETFs.

Expected Return of the New Portfolio

MultiPlus is designed for long-term investors seeking solid return opportunities with moderate risk. Through active management and the balanced allocation between equities and bonds, annual returns of around 6–9% are realistic, depending on market performance (not guaranteed).

Portfolio Overview (as of August 2026)

Performance: One Year of MultiPlus

The current monthly report (as of July 31, 2026, calculation period August 2021 – July 2026, source: BlackRock Portfolio Analysis Tool – Portfolio 360) shows the annualized total return over various time horizons:

●      1 Year: 17.95% annualized total return

●      3 Years: 14.41% p.a. annualized total return

●      5 Years: 10.04% p.a. annualized total return

A theoretical investment of €10,000 would have grown to approximately €16,132 since August 2021 (+61.32%, as of July 31, 2026) – a clear illustration of the impact of long-term, broadly diversified investing, even though the path there was not linear.

Market Outlook: What Lies Ahead?

Looking ahead, the interest rate environment remains dynamic: in autumn 2026, the ECB could decide on a further interest rate adjustment in view of persistent inflation risks, while the US Federal Reserve is expected to maintain its current stance for the time being. In the equity markets, Artificial Intelligence is likely to remain a central driver, offering opportunities through substantial investments in data centers and infrastructure, but also presenting risks due to high valuations and a strong concentration on a few technology stocks. For MultiPlus investors, this means that broad diversification across equities, bonds, and regions remains the core pillar to capitalize on opportunities while mitigating volatility.

Conclusion

With MultiPlus, UnitPlus takes a decisive step forward in the digital investment landscape. One year after its launch, the portfolio demonstrates how innovation, expertise, and flexibility interact: investors benefit from active ETFs, professional portfolio management by Goldman Sachs Asset Management, and broad global diversification – packaged in a modern, digital product.

Further Information

For more background on the investment strategy and the UnitPlus portfolios, please refer to the official monthly report:

UnitPlus Monthly Report Multiplus (PDF)

Risk Disclaimer:

This article does not constitute investment advice. It does not recommend the purchase or sale of financial instruments. Any capital market investment carries risks that can lead to a total loss of invested capital. Historical performance is not a reliable indicator of future results. Goldman Sachs Asset Management assumes no liability for the accuracy, completeness, or timeliness of this article.