Historical performance of shares and bonds in Switzerland

In 1988 Pictet began to compare the performance of Swiss equities since the end of 1925 with that of bonds denominated in Swiss francs.

The original Pictet study

In January 1988, Pictet published its first long-term study comparing the performance since the end of 1925 of Swiss equities with that of bonds denominated in Swiss francs.

This analysis shows, among other things, that a well-diversified Swiss equity portfolio will tend to outperform a bond portfolio over an extended investment period.

Our analysts update the data every year and present the latest updated tables and charts.

Download the full original study

2022 study data update

The 2022 update of our long-term Swiss equity and bond performance study is available and can be downloaded by clicking on the link below.

Download the February 2022 update

The study compares the performance of Swiss equities with that of bonds denominated in Swiss francs since the end of 1925 until 2021.

Among other things, our analysis of historical returns shows that equities remain the investment of choice and given the difficult of ‘timing the market’, a long-term time horizon can be your best friend. Good advice and a long-term perspective can make a big difference to your wealth. 

In the expert commentary, in addition to further conclusions on the right investment strategy for long-term investors, you will find a graphical presentation of the results using the Pictet yield triangle.

Read the expert commentary – 2021, an outstanding year