La nostra opinione su BKB Nachhaltig Einkommen (CHF) V
Same return as Bank Cler's income fund, down to the decimal. BKB's version just has more assets.
BKB Nachhaltig Einkommen ranks #79 among 82 3a investment funds in Switzerland. With 32% stocks and 65% bonds at a 1.22% TER, it's the conservative income option from Basler Kantonalbank. The five-year return of +3.79% is identical to Bank Cler's version, confirming these are the same product with different labels. The CHF 50 million in assets makes this the larger of the twin funds.
Are the Fees Worth It?
The 1.22% TER takes a disproportionate bite from already-modest returns. Over five years, this fund returned +3.79% total. The TER alone consumed roughly 6.10% of assets over the same period (1.22% x 5 years). In simple terms, the manager earned more than the investor. That's a ratio no one should be comfortable with.
A savings account paying 0.80% would have returned more over five years without the management fee, without market risk, and without the 2022 bond crash that likely pushed this fund into negative territory before recovering. The math doesn't work in this fund's favor.
What Actually Stands Out
CHF 50 million is more viable than Bank Cler's CHF 21 million, making BKB's version the slightly safer choice from a fund longevity perspective. Swing pricing is included, and BKB's cantonal bank status provides a state guarantee from Basel-Stadt.
The sustainability screening is the same comprehensive framework applied across BKB's entire Nachhaltig range. Exclusions cover fossil fuel extraction, controversial weapons, and poor governance. The income-oriented strategy selects higher-yielding bonds and dividend-paying stocks within the ESG universe.
What Most Reviews Miss
Like Bank Cler's version, the "Einkommen" (income) label is meaningless in a 3a wrapper. No dividends or interest are paid out to you. Everything is reinvested. The income strategy might marginally affect security selection, but it has zero impact on your experience as a 3a investor. It's a product naming convention, not a feature.
The three-year return of +13.86% versus Bank Cler's +13.57% shows a slight divergence, suggesting minor differences in execution timing despite the shared strategy. Both trail the market significantly. The ESG screening and active management combined have not justified the 1.22% annual cost.
The Bottom Line
BKB Nachhaltig Einkommen is the more stable of two identical twins, thanks to its larger asset base. But the fundamental problem remains: a 1.22% TER on a conservative fund that returned +3.79% over five years is a poor deal for investors. If you must stay in the BKB ecosystem, at least consider the Ausgewogen version. Otherwise, explore our Pillar 3a comparison tool for better value.
Verdict: Slightly preferable to Bank Cler's twin due to larger fund size, but the same problem applies: too expensive for too little return.
Pro
- No custody fee
- Swing pricing protection
Contro
- Higher total costs (1.22% p.a.)
- Active management = higher fees
- Below-average 3-year performance
- Smaller fund size
Dettagli del prodotto
In sintesi
- 32% stocks allocation
- TER: 1.22%
- Swing pricing protection
- Actively managed
- No custody fee
Fund Details & Allocation
Fund Details & Allocation
Allocazione degli asset
Azioni
32%
Obbligazioni
65%
Altro
2%
Strategia di investimento
Fondo gestito attivamente
Dimensione fondo
CHF 50M
Banca depositaria
UBS Switzerland AG, Zürich
Swing Pricing
Sì
Commissioni e costi
Commissioni e costi
TER sintetico
1.22%
Commissione di custodia
Gratuito
Performance nel tempo
Performance storica di questo fondo di investimento. Le performance passate non sono indicative dei risultati futuri.
1 anno
+2.3%
3 anni
+13.9%
5 anni
+3.8%
Proiezione pensionistica
Basato su un contributo max. di CHF 7'258/anno, età 30 a 65 (35 anni), partendo da CHF 0.
Confronta con prodotti simili
Domande frequenti
- BKB Nachhaltig Einkommen returned only +3.79% over 5 years. What's holding it back?
- The fund holds 65% bonds and just 32% equities, so the broader bond market correction in 2022-2023 weighed heavily, while the 1.22% TER consumed roughly 6 percentage points of cumulative return across the five years. Net of fees, you have an annualised return below 1% across the period.
- Is BKB Einkommen the right fit if you're approaching retirement?
- It can be, because the 65% bond allocation is built for stability over growth. But the 1.22% TER is 2x the segment average of 0.68% and the realised 5-year return suggests you may keep more value in a 3a savings account at a 0.30-0.40% rate. Compare alternatives carefully.
- How does BKB Nachhaltig Einkommen compare to a high-yield 3a savings account?
- After the 1.22% TER on a 5-year return of +3.79%, the net annualised return is below 1%. Bank CIC's 3a savings account at 0.60% would have delivered roughly 3% cumulative over five years with no fee drag and no equity risk. For an income-tilted 3a goal, the cash account looks like a stronger fit unless you specifically want capital growth.
Come abbiamo valutato questo prodotto
BKB Nachhaltig Einkommen (CHF) V è stato valutato come prodotto utilizzando il nostro sistema di punteggio ponderato.
Le valutazioni vengono aggiornate mensilmente sulla base dei dati più recenti disponibili. Tutti i prodotti vengono valutati con la stessa metodologia.
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