Most "Swiss stock screeners" are either locked behind a brokerage login, buried inside a platform designed for day traders, or just a static table with yesterday's closing prices. None of them tell you the one thing that actually matters for Swiss investors: what actually hits your account after the 35% withholding tax, and how to get it back.
That's why we built this. A free, no-signup screener for Switzerland's 20 largest stocks, showing you real metrics, net dividend yields (before and after reclaiming the Verrechnungssteuer), and the data you need to make decisions. Not noise. Not upsells. Just the numbers.
What Is the Stock Market in Switzerland?
Switzerland's stock market operates through the SIX Swiss Exchange, one of Europe's most important exchanges. It's based in Zurich and has been running since 1850. Today, it lists over 250 companies, but the action is concentrated at the top.
The SMI (Swiss Market Index) is the headline number. It tracks the 20 largest and most liquid stocks on SIX. When someone says "the Swiss market is up 1.2% today," they're talking about the SMI.
Here's what makes it different from other European markets:
- CHF-denominated. Everything trades in Swiss francs. No currency conversion if you live and earn in Switzerland.
- Concentrated. The top three stocks (Nestlé, Roche, Novartis) make up roughly 50% of the index weight. This is unusually concentrated compared to the S&P 500 or Euro Stoxx 50.
- Defensive tilt. Healthcare, consumer staples, and financials dominate. You won't find mega-cap tech here. That's a feature if you want stability, and a drawback if you want growth.
Why Invest in Swiss Stocks?
Look, Swiss stocks aren't exciting. They don't 10x overnight. You won't find the next Tesla on the SIX. But here's the thing: that's exactly why serious investors hold them.
CHF is one of the world's strongest currencies. Your Swiss equity returns aren't eroded by FX moves if you earn and spend in francs. That's a real advantage most people underestimate.
Swiss blue chips have paid dividends for decades. Nestlé hasn't cut its dividend since the 1990s. Roche and Novartis keep raising theirs. For income investors, this consistency is hard to find elsewhere.
Healthcare, insurance, consumer staples. These sectors don't crash as hard during downturns. The SMI tends to drop less than the S&P 500 in bear markets, though it also lags in euphoric bull runs.
Strong corporate governance is another edge. Swiss companies are known for transparent reporting, conservative balance sheets, and long-term thinking. Combined with Switzerland's political stability, that attracts institutional capital from around the world.
The trade-off? Lower growth potential compared to US tech. If you're looking for high-growth bets, Swiss stocks probably aren't it. But if you want a reliable, income-generating core for your portfolio, this is one of the best markets in the world for it.
I hold several SMI names in my portfolio, and honestly, the main reason isn't excitement. It's reliability. When markets get volatile, I don't lose sleep over my Swiss positions. Nestlé, Roche, Zurich Insurance: they just keep doing their thing. For a core allocation in CHF, I haven't found anything better. I pair them with broader ETFs for growth.
The Swiss Withholding Tax on Dividends (The Part Everyone Gets Wrong)
This is probably the most misunderstood aspect of investing in Swiss stocks. And it's exactly where our screener adds value that others don't.
Switzerland imposes a 35% withholding tax (Verrechnungssteuer) on all dividends paid by Swiss companies. This isn't optional. It's deducted at source before the money reaches your account.
Here's a concrete example:
- Company declares a dividend of CHF 10.00 per share
- 35% withholding tax deducted: CHF 3.50
- Amount you receive: CHF 6.50
- Gross dividend yield (if share price is CHF 200): 5.0%
- Net dividend yield after withholding: 3.25%
Can you get the money back? Yes, but it depends on your situation:
- Swiss residents: You can reclaim the full 35% through your annual tax return (DA-1 form). The withholding acts as a prepayment on your income tax. In practice, you get it all back, but there's a cash flow delay of several months.
- Non-residents: You may reclaim part of it under double taxation treaties. The amount varies by country. US residents typically recover 20% (keeping a 15% final rate). EU residents usually get most of it back.
This is why we show gross and net dividend yields in the screener above. Most international screeners only show gross. That's misleading if you're a Swiss-based investor trying to estimate actual income.
How to Read the Screener
The table at the top of this page shows all 20 SMI constituents with live data. Here's what each metric tells you and how to use it.
Market cap is the total value of all outstanding shares. It tells you how big the company is. Nestlé at CHF 200+ billion is a different beast than Sonova at CHF 15 billion. Bigger doesn't mean better, but it usually means more stable.
Price and daily change show the current share price and today's movement. Useful for context, but don't make decisions based on one day's move.
P/E ratio (price-to-earnings) is the market's shorthand for valuation. A P/E of 20 means investors are paying 20x annual earnings. Lower can mean cheaper, but it often signals lower expected growth or higher risk. Always compare P/E within the same sector. Pharma companies naturally trade at higher multiples than banks.
Dividend yield (net) is the number that actually matters for Swiss investors. It shows what you receive after the 35% withholding tax, assuming you'll reclaim it. This is your real cash flow figure for planning.
1-year return shows total price performance over the past 12 months. It doesn't include dividends, so the total return is actually higher for dividend payers.
Swiss Market Sectors: Where the Money Lives
The SMI isn't evenly distributed across industries. Understanding the sector breakdown helps you diversify and avoid concentration risk.
Healthcare
Roche, Novartis, Lonza, Alcon, Sonova
Healthcare dominates the Swiss market. Roche and Novartis alone represent a massive chunk of the index. These are global pharma leaders with deep pipelines, strong cash flows, and reliable dividends. Lonza provides drug manufacturing services, Alcon focuses on eye care, and Sonova makes hearing aids. If you own an SMI ETF, you're heavily exposed to healthcare whether you intended to be or not.
Financials
UBS, Zurich Insurance, Partners Group, Swiss Life, Swiss Re
Switzerland's second-largest sector. UBS is the global wealth management giant. Zurich Insurance and Swiss Re are insurance powerhouses. Partners Group is a private equity manager, and Swiss Life handles life insurance and pensions. These stocks tend to be more cyclical than healthcare and often offer higher dividend yields.
Consumer & Industrials
Nestlé, Richemont, ABB, Holcim, Kühne+Nagel, Geberit, Sika
Nestlé is the world's largest food company. Richemont owns luxury brands (Cartier, Van Cleef). ABB is an industrial automation leader. Holcim makes building materials. Kühne+Nagel handles logistics. These companies give you exposure to global consumer spending and industrial activity.
Tech & Telecom
Logitech, Swisscom
The smallest sectors in the SMI. Logitech makes peripherals and is the closest thing to a tech stock on the exchange. Swisscom is the dominant Swiss telecom provider, essentially a utility play with a reliable dividend.
Roche, Novartis, Lonza, Alcon, Sonova
Healthcare dominates the Swiss market. Roche and Novartis alone represent a massive chunk of the index. These are global pharma leaders with deep pipelines, strong cash flows, and reliable dividends. Lonza provides drug manufacturing services, Alcon focuses on eye care, and Sonova makes hearing aids. If you own an SMI ETF, you're heavily exposed to healthcare whether you intended to be or not.
UBS, Zurich Insurance, Partners Group, Swiss Life, Swiss Re
Switzerland's second-largest sector. UBS is the global wealth management giant. Zurich Insurance and Swiss Re are insurance powerhouses. Partners Group is a private equity manager, and Swiss Life handles life insurance and pensions. These stocks tend to be more cyclical than healthcare and often offer higher dividend yields.
Nestlé, Richemont, ABB, Holcim, Kühne+Nagel, Geberit, Sika
Nestlé is the world's largest food company. Richemont owns luxury brands (Cartier, Van Cleef). ABB is an industrial automation leader. Holcim makes building materials. Kühne+Nagel handles logistics. These companies give you exposure to global consumer spending and industrial activity.
Logitech, Swisscom
The smallest sectors in the SMI. Logitech makes peripherals and is the closest thing to a tech stock on the exchange. Swisscom is the dominant Swiss telecom provider, essentially a utility play with a reliable dividend.
The key takeaway: If you buy the SMI, you're making a bet on global healthcare and Swiss finance. That's not necessarily bad, but be aware of it. Consider pairing Swiss stocks with international ETFs if you want broader sector exposure.
Common Mistakes When Investing in Swiss Stocks
After years of tracking this market and talking to Swiss investors, these are the patterns I see over and over again.
A Swiss stock yielding 4% gross looks the same as a US stock yielding 4%. But after withholding, the Swiss stock pays you 2.6% upfront. You can reclaim the difference, but it takes months. Factor this into your cash flow planning, especially if you depend on dividend income.
Buying Nestlé, Roche, and Novartis feels like diversification. It's not. You're 70%+ in two sectors (healthcare and consumer staples). Pair your Swiss picks with other asset classes or geographies.
The stock that returned +40% last year rarely repeats. Swiss stocks are generally mean-reverting. If a stock had an exceptional year, it might be expensive now. Check the P/E before buying.
Swiss brokers charge trading fees, custody fees, and sometimes stamp duties (0.075% on Swiss securities). These eat into returns, especially for small portfolios. Compare broker costs before opening an account.
A high dividend yield doesn't automatically mean "buy." A low P/E doesn't mean "bargain." These are screening tools to narrow your options. Always do deeper research, read annual reports, and understand the business before investing.
How to Start Investing in Swiss Stocks
If you're new to this, here's the practical path from zero to holding SMI stocks.
Before buying stocks, make sure you have an emergency fund in a high-interest savings account and you're maxing out your Pillar 3a contributions (up to CHF 7,258 per year in 2026). Stocks are for money you won't need for at least 5 years.
You need a securities account. Swiss options include Swissquote, PostFinance, Yuh, and interactive brokers. Compare trading fees, custody fees, and whether they handle DA-1 (withholding tax reclaim) for you. For small portfolios under CHF 50,000, low-fee options like Yuh or neon invest can save you hundreds per year.
Buying individual SMI stocks gives you control and lets you pick based on yield or sector. An SMI ETF (like iShares SMI ETF) gives you all 20 stocks in one trade. For most people, especially beginners, the ETF is simpler and better diversified.
Use the screener above to filter by the metrics that matter to you. Then dig deeper: read the company's annual report, check recent news, and understand what drives revenue. When you're confident, place your order. Start small if it's your first time.
Swiss blue chips reward patience. Reinvesting dividends (even after withholding tax) compounds your returns over time. Use our compound interest calculator to model how reinvested dividends grow your portfolio over 10, 20, or 30 years.
Swiss Stocks vs. Global Markets: How Does Switzerland Compare?
A fair question: why bother with Swiss stocks when you could just buy a global ETF?
Performance. Over the past 20 years, the SMI has delivered average annual returns of roughly 6-8% including dividends. The S&P 500 has beaten that, driven by US tech. But the SMI has had lower volatility, meaning fewer stomach-churning drops.
Currency. This is the hidden factor. If you earn CHF and invest in USD-denominated stocks, you're exposed to CHF/USD fluctuations. A 10% stock gain can be wiped out by a 10% CHF appreciation. Swiss stocks eliminate that risk entirely. You can check current exchange rate trends with our currency converter.
Dividends. Swiss stocks generally offer higher dividend yields than US stocks (S&P 500 average is around 1.3%). The SMI average is closer to 2.5-3% gross. If income matters to you, Swiss stocks deliver more of it.
The honest answer: Most investors should own both. Swiss stocks for your CHF core and income. Global ETFs for growth and diversification. The exact mix depends on your risk tolerance, time horizon, and how much you value currency stability.
Who Is This Screener For?
This tool is built for anyone who wants transparent, no-nonsense data on Swiss equities. But it's especially useful if you are:
- A Swiss resident building a local equity portfolio and wanting to understand net dividend yields after withholding tax.
- An expat in Switzerland exploring CHF-denominated investments for the first time.
- A dividend investor looking for reliable income from blue-chip companies.
- A beginner who wants a simple, visual way to compare Swiss stocks without needing a brokerage account or a Bloomberg terminal.
- A financial planner who needs quick access to SMI data for client discussions.
What this screener is not: a trading platform, a recommendation engine, or a substitute for professional financial advice. It's a starting point for your own research.
Frequently Asked Questions
What is the SMI and how many stocks does it contain?
The SMI (Swiss Market Index) tracks the 20 largest and most liquid Swiss stocks on the SIX Swiss Exchange. It represents roughly 80% of total Swiss equity market capitalization. The index is maintained by SIX Group and reviewed quarterly. Constituents include household names like Nestlé, Novartis, Roche, UBS, and Zurich Insurance.
What are the trading hours of the SIX Swiss Exchange?
The SIX Swiss Exchange is open Monday to Friday, 9:00 to 17:30 CET. There's a pre-opening phase from 6:00 and a closing auction at 17:30. Swiss public holidays are non-trading days. The exchange publishes its annual holiday calendar on its website.
How does the Swiss withholding tax work on dividends?
Switzerland deducts 35% of every dividend payment at source. Swiss residents can reclaim the full amount through their annual tax return (DA-1 form), as dividends are taxable income. Non-residents may recover part of the tax under double taxation treaties. The exact reclaim amount depends on the treaty between Switzerland and your country of residence.
What is the difference between gross and net dividend yield?
Gross yield is the annual dividend divided by the share price, before any tax deduction. Net yield is what you actually receive after Switzerland's 35% withholding tax. For a stock with a 4% gross yield, the net yield is 2.6%. Swiss residents effectively get the gross yield back after reclaiming the tax, but there's a cash flow delay.
Can I buy Swiss stocks from outside Switzerland?
Yes. Most international brokers (Interactive Brokers, Saxo, DEGIRO) offer access to the SIX Swiss Exchange. You'll need to check your broker's fee schedule for Swiss securities and understand the withholding tax implications for your country of residence.
Are Swiss stocks a good investment for beginners?
SMI stocks are generally well-suited for beginners: they're liquid, well-covered by analysts, and many pay steady dividends. That said, individual stocks carry company-specific risk. If you're just starting out, consider an SMI ETF for diversification. Also make sure your Pillar 3a is set up and you have a cash buffer in a savings account before investing in equities.
What does a high P/E ratio mean?
A high P/E (e.g. 25-30+) means investors are paying a premium relative to current earnings. This usually signals expectations of strong future growth or a premium for quality. A low P/E can mean the stock is cheap or that the market sees higher risk. Always compare P/E within the same sector. Pharma typically trades at higher multiples than banks.
How often is the screener data updated?
The screener data is refreshed daily. Prices, market caps, P/E ratios, and dividend yields reflect the most recent trading session. Historical price charts go back up to 20 years for the MAX view. The "last updated" timestamp in the market summary bar shows exactly when the data was last refreshed.
Is the Swiss stock market open to foreign investors?
Yes, the SIX Swiss Exchange is fully accessible to foreign investors. There are no restrictions on buying Swiss equities as a non-resident. The main considerations are broker access (ensure your broker supports SIX), currency (stocks trade in CHF), and withholding tax (35% on dividends, partially reclaimable via tax treaties).
Bottom line: The Swiss stock market is small, concentrated, and deliberately boring. That's its strength. The SMI gives you access to some of the world's best-run companies, denominated in one of the world's strongest currencies, with a dividend culture that rewards patience. Use the screener above to find the stocks that match your strategy, remember to factor in the withholding tax, and think long-term. The Swiss market rewards those who do.