UBS maintains a positive view on Swiss equities, citing their defensive quality and attractive 3% dividend yield as key buffers against geopolitical risks. Despite currency headwinds and Middle East tensions, SMI earnings are expected to grow by 8% in 2026.
Key Takeaways
- 1.Swiss equities offer defensive resilience and high-quality exposure amidst global geopolitical uncertainty.
- 2.The market's sustainable dividend yield above 3% is highly attractive in a zero-interest-rate environment.
- 3.Earnings growth for the SMI is projected at 8% for 2026, outperforming current consensus estimates.
Table of Contents
- CIO View: Swiss equities
- Central scenario
- Upside scenario
- Downside scenario
- Global asset class preferences definitions
- Appendix
- Risk information
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Authors
Stefan R Meyer
Securities
SMI
Themes
Defensive QualityDividend YieldCurrency Impact
Regions
Middle EastEuropeSwitzerlandUnited States