SMI
SMI · CHF
The world's safe-deposit box — defensive blue chips and hard currency.
Switzerland combines monetary stability, neutrality, and a concentration of global champions in pharma, food, luxury and banking. The Swiss franc is a hard currency haven and the SMI is one of the most defensive indices in the developed world.
Sector breakdown
What drives the index
Healthcare
38%Roche & Novartis dominate. Pharma is the index.
Consumer Staples
22%Nestlé — the world's largest food company.
Financials
18%UBS (now the only global Swiss bank), Zurich Insurance.
Luxury
10%Richemont (Cartier), Swatch Group.
Industrials
12%ABB, Sika, Holcim.
Top companies
The franchises that matter
Nestlé
World's largest food & beverage company.
Roche
Oncology & diagnostics leader.
Novartis
Innovative-medicines focused after Sandoz spin-off.
UBS
Now the dominant Swiss bank after absorbing Credit Suisse.
Richemont
Owner of Cartier, Van Cleef & Arpels.
Latest News
Switzerland has more registered companies per capita than any other country.
Nestlé owns over 2,000 brands across nearly every country on Earth.
UBS's takeover of Credit Suisse in 2023 was the largest banking rescue since 2008.
- Hard currency
- Defensive earnings
- Dividend stability
- CHF strength hurts exports
- Healthcare regulation
- Slow growth
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