Switzerland stocks

EV/EBITDA sector-relative strategy on SIX Swiss Exchange vs the SMI, cumulative returns 2000-2024. Strategy returned 755.22% total.

Switzerland stocks

EV/EBITDA Sector-Relative Value on Swiss Stocks: 8.96% CAGR With 17% Down-Capture

We backtested sector-relative EV/EBITDA on 23 years of Swiss data (SIX). 8.96% CAGR vs 1.90% SMI (price return), 17.41% down capture, MaxDD -29.0%, Sharpe 0.359. Two caveats: the SMI excludes dividends, and on a Swiss-domiciled universe the +7.07% excess becomes -0.86%.

Growth of $10,000 invested in FCF Conversion Quality vs SMI on Swiss stocks from 2000 to 2025. Strategy grew to ~$70K, SMI to ~$15K.

quality investing

FCF Conversion Quality on Swiss Stocks: +6.35% Over SMI with 80% Win Rate

Switzerland produced +6.35% excess CAGR over the SMI, the widest gap of any exchange we tested. 8.09% CAGR, 80% win rate, 31% down capture. $10K grew to ~$70K vs ~$15K for the SMI. Quality multinationals convert earnings to cash with less noise than any other market.