La nostra opinione su frankly Moderate 45 Index
Same moderate allocation, same fees, but the index version quietly outperforms.
Frankly Moderate 45 Index ranks #12 among 67 3a investment funds in Switzerland. It's the passive version of frankly's most popular fund, and here's the thing: it outperforms the active Responsible version over three years (+24.96% vs +24.15%). With CHF 602 million in assets, investors are catching on.
How Does the Return Stack Up?
Three-year return: +24.96%. Five-year return: +21.93%. The three-year figure beats the active Responsible version by nearly a full percentage point. Total cost is identical at 0.44%. So you're getting better recent performance for the same price, without the ESG overlay.
The five-year return of +21.93% looks lower than the three-year figure, which seems counterintuitive. This reflects the 2022 bond crisis hitting balanced funds hard. Both stocks and bonds fell, and the 43% bond allocation amplified the damage rather than cushioning it.
What Actually Stands Out
43% bonds in this index version versus 40% in the Responsible version. That's a slightly more conservative tilt, which some investors will prefer. The passive approach from Swisscanto means lower turnover and fewer hidden transaction costs versus the active version.
CHF 602 million in assets is the second-largest in the frankly lineup, trailing only the Responsible version. The fund's size provides excellent liquidity and stability. Index tracking means you always know what you own: broad market indices without active bets on individual stocks or sectors.
What Most Reviews Miss
The five-year return (+21.93%) trailing the three-year return (+24.96%) is a red flag for timing. If you invested five years ago, you've earned less annualized than someone who invested three years ago. This isn't a fund-specific problem; all balanced funds suffered this pattern. But it shows that moderate allocations aren't immune to extended rough patches.
Without ESG screening, this fund holds whatever the index holds. If you're choosing between this and the Responsible version, the decision comes down to whether ESG alignment or raw performance matters more. Currently, the index wins on returns.
The Bottom Line
For investors who want a moderate, passive, low-cost 3a fund, this is the straightforward choice. No ESG premium, no active management drag, just broad index exposure at a balanced allocation. Compare it against similar options in our Pillar 3a comparison tool.
Verdict: The better-performing alternative to frankly's active Moderate fund, ideal for passive investors who prioritize returns over ESG criteria.
Pro
- Low total costs (0.48% p.a.)
- Good 3-year performance (+25.0%)
- No custody fee
- Large fund size (stable)
Contro
- High flat fee (0.44%)
- No swing pricing protection
- Issuing fee of 0.21%
- Sales/redemption fee of 0.06%
Dettagli del prodotto
In sintesi
- 45% stocks allocation
- TER: 0.04%
- Passive/Index strategy
- No custody fee
Fund Details & Allocation
Fund Details & Allocation
Allocazione degli asset
Azioni
45%
Obbligazioni
43%
Immobili
5%
Altro
7%
Strategia di investimento
Fondo gestito passivamente
Dimensione fondo
CHF 602M
Banca depositaria
Zürcher Kantonalbank (ZKB)
Swing Pricing
No
Commissioni e costi
Commissioni e costi
TER sintetico
0.04%
Commissione forfettaria
0.44%
Commissione di custodia
Gratuito
Commissione di emissione
0.21%
Performance nel tempo
Performance storica di questo fondo di investimento. Le performance passate non sono indicative dei risultati futuri.
1 anno
+5.4%
3 anni
+25.0%
5 anni
+21.9%
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
- What is the maximum annual Pillar 3a contribution?
- For employees with a pension fund, the maximum is CHF 7,258 per year (2025). Self-employed without a pension fund can contribute up to 20% of net income, max CHF 35,288. These amounts are fully tax-deductible.
- What are the tax benefits of this Pillar 3a product?
- Contributions to frankly Moderate 45 Index are fully deductible from your taxable income. Interest and returns grow tax-free. You only pay tax at a reduced rate when you withdraw at retirement.
- Can I transfer to frankly Moderate 45 Index from another provider?
- Yes, you can transfer your 3a balance to frankly Moderate 45 Index at any time without tax consequences, and frankly charges no transfer or closure fee.
- Should I choose a savings account or investment fund for my 3a?
- Savings accounts offer guaranteed returns with zero risk — ideal if you're close to retirement. Investment funds provide higher growth potential but with market risk — ideal for 10+ year horizons. Many Swiss residents split their contributions between both.
- Is the performance of frankly Moderate 45 Index guaranteed?
- No, investment fund returns are not guaranteed. Past performance of +21.9% over 5 years does not guarantee future results. Your capital can fluctuate with markets.
Come abbiamo valutato questo prodotto
frankly Moderate 45 Index 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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