La nostra opinione su BLKB iQ Responsible Vorsorge Balanced B
A passive balanced fund from a cantonal bank at 0.72% TER. Quietly competitive in a crowded market.
BLKB iQ Responsible Vorsorge Balanced B ranks #42 among 82 3a investment funds in Switzerland. It's the Basellandschaftliche Kantonalbank's responsible 3a fund with 44% equities and 54% bonds. The 0.72% TER is reasonable for a cantonal bank, and the passive approach sets it apart from most traditional bank offerings. A solid middle-of-the-road choice.
Are the Fees Competitive?
At 0.72% TER, BLKB sits in a sweet spot: cheaper than PostFinance (1.20%+) and traditional banks, but more expensive than digital platforms like frankly (0.44%) or VIAC (0.25-0.40%). On a CHF 50,000 portfolio, you're paying CHF 360 per year. That's roughly CHF 140 more than frankly but CHF 240 less than PostFinance.
The three-year return of +23.66% is surprisingly strong for a 44/54 equity/bond split, outperforming several funds with higher equity allocations. The passive strategy means low manager risk, and the five-year return of +15.54% reflects the bond headwinds of 2022. Overall, fair value for a cantonal bank offering.
What Actually Stands Out
The passive index approach from a cantonal bank is genuinely unusual. Most Swiss cantonal banks offer only actively managed 3a funds with higher fees. BLKB chose to track indices, which means lower costs and no manager underperformance risk. That's a progressive decision from a traditional institution.
The CHF 586 million fund size provides excellent stability. BLKB is state-guaranteed as a cantonal bank, adding an extra layer of institutional security. The responsible investing criteria screen for ESG factors across both equity and bond allocations, and the fund is available through BLKB's standard banking relationship.
What Most Reviews Miss
The three-year return of +23.66% outperforms Swisscanto's 45% equity fund (+21.75%) despite having a slightly lower equity allocation. This suggests BLKB's index selection and bond management have been slightly more efficient. Small differences in bond index choice and rebalancing timing can produce meaningful return gaps.
However, the five-year return of +15.54% is more sobering. That's roughly +2.9% annualized, which barely keeps pace with inflation. The 54% bond allocation acted as a drag during the rate-rising environment. If you're more than 10 years from retirement, this cautious allocation may cost you significant growth over time.
The Bottom Line
BLKB iQ Responsible is a standout among cantonal bank 3a offerings thanks to its passive approach and reasonable fees. It won't set performance records, but it offers honest, low-cost balanced investing from a state-backed institution. If you bank with BLKB, it's an easy recommendation. See how cantonal bank options compare in our guide to the best 3a investment funds in Switzerland.
Verdict: The best passive balanced 3a fund from a cantonal bank, offering fair fees and institutional stability for moderate-risk investors.
Pro
- Good 3-year performance (+23.7%)
- No custody fee
- Large fund size (stable)
Contro
- No swing pricing protection
Dettagli del prodotto
In sintesi
- 44% stocks allocation
- TER: 0.72%
- Passive/Index strategy
- No custody fee
Fund Details & Allocation
Fund Details & Allocation
Allocazione degli asset
Azioni
44%
Obbligazioni
54%
Immobili
2%
Strategia di investimento
Fondo gestito passivamente
Dimensione fondo
CHF 586M
Banca depositaria
UBS
Swing Pricing
No
Commissioni e costi
Commissioni e costi
TER
0.72%
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
+3.6%
3 anni
+23.7%
5 anni
+15.5%
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
- Why is the TER 0.72% if this is a passive fund?
- The 0.72% TER sits at the segment average of 0.68%, higher than you'd typically expect from a passive product. Multi-asset passive 3a vehicles often run below 0.40%. The premium reflects the bond sleeve and the ESG overlay; if you mostly want equities, the BLKB single-asset funds run cheaper.
- Why is the 5-year return only +15.54% with 44% stock?
- With 44% stocks, 54% bonds, and 2% real estate, this is a bond-heavy balanced fund. The +15.54% five-year cumulative return is below the +23.5% segment average because bonds underperformed during the 2022 rate-hike cycle. Three-year performance of +23.66% is closer to the segment median.
- Does the 54% bond allocation suit pillar 3a horizons?
- Pillar 3a typically runs 10 to 40 years until retirement. A 54% bond allocation prioritises stability over growth, which fits savers close to retirement but limits compounding for younger savers. If you have more than 15 years until age 65, a higher-equity option in the BLKB lineup may match your horizon better.
Come abbiamo valutato questo prodotto
BLKB iQ Responsible Vorsorge Balanced B 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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