Swiss Performance Index


The Swiss Performance Index is a wide total-return index that tracks equity primarily listed on SIX Swiss Exchange with a free-float of at least 20%, and excluding investment companies. The index covers large, mid and small caps and is weighted by market capitalization. Most constituents, although not all, are domiciled in Switzerland or the Principality of Liechtenstein.
The SPI is Switzerland's most closely followed performance index. It is used as a benchmark for mutual funds, index funds and ETFs, and as an underlying index for derivative financial instruments such as options, futures and structured products.
In 2020, the SPI, along with other SIX indices, was endorsed under the EU Benchmarks Regulation and is registered with the European Securities and Markets Authority, which means that it can be used as an underlying for financial products sold in the EU.

SPI Universe

The underlying share universe of the SPI is the Swiss All Share Index and includes approximately 230 equity issues. For a company's shares to be included in the SPI, the company must be domiciled in Switzerland and the shares must have a free float equal to or greater than 20%.
In 1998, investment companies were taken out of the SPI Family and put into the specially designed Investment Index in order to avoid double listing of SPI components. Exceptions to this rule can be granted to Investment Companies that invest in companies not primarily listed at SIX.
The SPI acts in turn as the universe of several other indices offered by SIX Swiss Exchange:
Below is the list of the 217 SPI shares as of June 26, 2020. Some of the companies are primarily listed in Switzerland, but have their headquarters outside Switzerland and were included in the underlying share universe upon request. Some companies have two kinds of shares and thus appear twice in the SPI.
SymbolCompanySMI FamilyIPORemarks
ABBSMI
Addex Pharmaceuticals2007
AdeccoSMI
Adval Tech Holding
Aevis Victoriapreviously Aevis Holding
Airesis
AlconSMI2019
Allreal Holding2000
ALSO Holding
Aluflexpack2019
ams AGSMI MIDheadquarters outside Switzerland
APG SGA AG
Arboniapreviously AFG Arbonia-Forster-Holding
Arundel
Aryzta2008
Ascom
ASmallWorld2018
Autoneum2011
Bachem Holding
BâloiseSMI MID
Banque Profil de Gestion
Barry CallebautSMI MID
Basellandschaftliche Kantonalbank
Basilea Pharmaceutica2004
Basler Kantonalbank
BB BiotechSMI MID
Banque Cantonale de Genève
Banque Cantonale du Jura
Banque Cantonale Vaudoise
Berner Kantonalbank2000
Belimo Holding
Bell Food Group
Bellevue Group
BFW Liegenschaften2007
Bank Linth LLB
BKW Energie2003
Blackstone Resources AG2018
Bobst Group
Bossard Holding
Bucher IndustriesSMI MID
Burckhardt Compression2006
Burkhalter Holding2008
BVZ Holding2007
Calida
Cassiopea2015headquarters outside Switzerland
Cembra Money Bank2013
CI Com
Cicor Technologies
Compagnie financière Tradition
ClariantSMI MID
Coltene Holding
Comet Holding2002
Conzzeta AG
Cosmo Pharmaceuticals2007headquarters outside Switzerland
CPH Chemie + Papier2001
Crealogix Holding2000
Credit SuisseSMI
Dätwyler Holding
DKSH2012
DormakabaSMI MID
DufrySMI MID2005
Edisun Power2008
EFG International2005
Elma Electronic
Emmi2004
Ems-ChemieSMI MID
Evolva2009
Feintool International Holding
Georg FischerSMI MID
Flughafen Zürich AGSMI MID
Forbo Holding
Fundamenta Real Estate AG2018
Galenica2017
GAM
Carlo Gavazzi Holding
GeberitSMI
GivaudanSMI2000
Glarner Kantonalbank2014
Groupe Minoteries
Graubündner Kantonalbank
Gurit Holding
HelvetiaSMI MID
HIAG Immobilien2014
Highlight Event and Entertainment
Hochdorf Holding2011
Huber+Suhner
Hypothekarbank Lenzburg
Idorsia2017
Implenia
Ina Invest2020
Inficon2001
Interroll Holding
Intershop Holding
Investis
IVF Hartmann Holding
Julius BärSMI MID2009
Jungfraubahn
Kardex Group
Klingelnberg2018
Komax Holding
Kudelski
Kühne + NagelSMI MID
Kuros Biosciences
LafargeHolcimSMI
Lalique Group2018
Landis+Gyr2017
lastminute.comheadquarters outside Switzerland
Leclanché
Lem Holding
Leonteq
Liechtensteinische Landesbankheadquarters outside Switzerland
Lindt & SprüngliSMI MIDregistered share
Lindt & SprüngliSMI MIDparticipation certificate
LogitechSMI MID
Lonza GroupSMI
LumX Groupheadquarters outside Switzerland
Luzerner Kantonalbank
MCH Group2001
Medacta Group2019
Medartis2018
Meier Tobler
Metall Zug
Meyer Burger Technology2006
Mikron Holding
Mobilezone2001
Mobimo Holding2005
Molecular Partners2014
NestléSMI
Newron Pharmaceuticals2006headquarters outside Switzerland
NovartisSMI
Novavest Real Estate2019
Orell Füssli
ObsEva SA2018
OC OerlikonSMI MID
Orascom Development Holding2008
Orior2010
Pargesa Holding
Partners GroupSMI MID2006
Peach Property2010
Perfect Holding
Perrot Duval Holding
Phoenix Mecano
Pierer Mobility2016previously KTM Industries
Plazza2015
Poenina Holding2017
Polyphor2018
Private Equity Holding
PSP Swiss PropertySMI MID2000
Relief Therapeutics
RichemontSMI
Rieter
RocheSMI
Romande Energie Holding
Santhera Pharmaceuticals Holding2006
Schaffner Holding
SchindlerSMI MIDregistered share
SchindlerSMI MIDparticipation certificate
Schlatter Holding
Schmolz + Bickenbach
Schweiter Technologies
Sensirion Holding2018
SF Urban Properties
SFS Group2014
SGSSMI
Siegfried Holding
SIG Combibloc Services AG2018
Sika AGSMI
Schweizerische Nationalbank
SoftwareONE2019
SonovaSMI MID
Spice Private Equity
St.Galler Kantonalbank2001
Stadler Rail2019
Starrag Group
Straumann GroupSMI MID
Sulzer AG
SunriseSMI MID2015
Swatch GroupSMIbearer share
Swatch GroupSMI MIDregistered share
Swiss LifeSMI
Swiss Prime SiteSMI MID2000
Swiss ReSMI
SwisscomSMI
Swissquote2000
Tecan
Temenos GroupSMI MID2001
Thurgauer Kantonalbank2014
Titlis Bergbahnen
Tornos Holding2001
TX Group2000previously Tamedia
U-blox2007
UBSSMI1998
V-Zug2020
Valartis Group
Valiant Holding
Valora
Varia US Properties2016
VAT GroupSMI MID2016
Vaudoise Assurances
Vetropack Holding
Vifor PharmaSMI MID
Villars Holding
Von Roll Holding AG
Vontobel
VP Bankheadquarters outside Switzerland
VZ Holding
Walliser Kantonalbank
Warteck Invest
WISeKey2016
Ypsomed Holding2004
Zehnder Group
Züblin Immobilien Holding
Zug Estates2012
Zuger Kantonalbank
Zur Rose Group2017
Zurich Insurance GroupSMI
Zwahlen et Mayr

Classification

SPI components are classified by size, by sector as well as by security category.

By size

There are three size categories of SPI components: large-cap, mid-cap and small-cap. Three SPI subindices reflect these sizes, respectively the SPI Large, the SPI Middle and the SPI Small. Two more subindices cover Large+Middle as well as Middle+Small.
The SPI 20 is another SPI subindex that contains the same companies as in the Swiss Market Index. It mostly overlaps with the SPI Large, but does not fully coincide because of the rules specific to the SMI. For this reason, another subindex, the SPI Extra, includes all SPI companies not in the SPI 20.

By sector

The SPI is divided into sectors on the basis of economic activity. This classification is based on the Industry Classification Benchmark ICB from Dow Jones and FTSE, which simplifies international performance comparisons significantly.

By security category

SPI Stocks are also grouped by security category: registered shares, bearer share, participation certificates.

Methodology

Paid prices are taken into account in calculating the SPI as a whole. If no paid prices are available, the index is calculated on the basis of bid prices. The index is recalculated and published every three minutes. On 1 June 1987, the SPI was standardised at 1000 points.

Swiss All Share Index

The Swiss All Share Index contains all companies primarily listed at SIX that are headquartered in Switzerland or the Principality of Liechtenstein. It has 232 components. These are all the SPI components, but also equity with less than 20% of free float and investment companies. The additional companies contained in the Swiss All Share Index are listed below, as of November 12, 2019.
CompanyRemarks
Alpine SelectInvestment Index
Baumgartner
Castle AltInvestment Index
Castle PrivateInvestment Index
Datacolor
Dottikon ES
EEII
Energiedienst
ENR Russia Invest
HBMInvestment Index
nebagInvestment Index
New ValueInvestment Index
Panalpina
Roche I
SHL Telemedicine
The NativeInvestment Index

Milestones

The following table shows historic milestones of the Swiss Performance Index Total Return. Latest seen values are not final: italic indicates that the value may be seen again if the bear market persists; parentheses indicate that the value will be seen again if we reenter a bull market ; Other values may be seen again in case of a crash.
ValueFirst seenLatest seen
Calibration1,000.00June 1, 1987February 21, 1991
Minimum 753.44January 13, 1988January 13, 1988
Milestone2,000.00January 31, 1994October 30, 1995
Milestone3,000.00April 22, 1997April 2, 2003
Milestone4,000.00January 28, 1998March 31, 2009
Milestone5,000.00July 1, 1998November 28, 2011
Milestone6,000.00February 16, 2006November 19, 2012
Milestone7,000.00January 3, 2007June 26, 2013
Milestone8,000.00January 13, 2014February 15, 2016
Milestone9,000.00December 3, 2014January 3, 2017
Milestone10,000.00April 27, 2017March 24, 2020
Milestone11,000.00January 9, 2018March 30, 2020
Milestone12,000.00June 18, 2019May 18, 2020
Milestone13,000.00January 17, 2020February 24, 2020
Maximum 13,561.17February 19, 2020