Pictet Wealth Management analyzes the long-term performance of Swiss equities and bonds back to 1900. Over the past 126 years, Switzerland has achieved one of the lowest inflation rates in the world, averaging just 2.1%, while maintaining the world’s strongest currency.
The long-term performance of Swiss equities and bonds (1900–2025)
Pictet
Djâafar Aballeche, Nadia Gharbi
Research
12 Pages
Key Takeaways
Strong Swiss Returns: Since 1900, Swiss equities have generated an average annual nominal return of 6.8%, compared to 3.9% for Swiss government bonds.
Long-Term Doesn't Lose: Since 1931, no investments made in Swiss equities with a 10-year time horizon have made a loss. The same is true for investments made in 1909 and held for a period of 14 years.
Balanced Portfolios: Any 10-year investment in a 60/40 portfolio begun in 1912 or later would have always produced positive returns, with significantly lower volatility than a portfolio invested entirely in equities (12% versus 19%).
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