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 #46 among 90 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.