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CHF-Hedged Share Classes

As part of HSBC Asset Management’s drive to offer investors a broader array of investment tools, HSBC has launched currency hedged variants of a number of different ETFs within its product range.

Efficient Currency Hedge

Currency-hedged ETFs are useful because they remove the uncertainty of exchange rate fluctuations. Currency risk can either work for or against your position and in the absence of a currency view, a currency hedged exposure is recommended.

A hypothetical example of how a hedged share class and an unhedged share class behave relative to the base currency

Below, as an example only, shows the performance over a 5-year track record of a hypothetical fund in the base currency USD versus the hedged CHF share price and the unhedged CHF share price.

hypothetical example of a hedged share class

The above is a hypothetical example only. It does not represent the return of any specific investment.

What does this show and what does it mean for investors with a hedged share class?

The graph above shows that investors with a CHF hedged share class of the hypothetical fund can receive a return that is closely correlated with the USD base currency. There can be no guarantee that hedging currency risks will be successful and there could be discrepancies between the currency position of the fund and the hedged share class especially during periods of significant market volatility.

The latest CHF-hedged opportunity for investors

The HSBC MSCI World UCITS ETF was launched in 2010 and it currently has an AUM of USD 13.9bn*. The MSCI World Index captures large and mid-cap representation across 23 Developed Markets (DM) countries*. With 1,325 constituents, the index covers approximately 85 per cent of the free float-adjusted market capitalization in each country.

*Source: HSBC Asset Management as of end of June 2025.

More information on currency hedging is available in our currency hedging brochure.

Find out more

Currency Hedging - Brochure (PDF, 1.30MB)

Access the Opportunities

	HSBC MSCI World UCITS ETF (CHF-Hedged) MSCI World Index TER: 0.155%	More information
	HSBC S&P 500 UCITS ETF (CHF-Hedged) S&P 500 Index TER: 0.095%	More information
	HSBC FTSE EPRA NAREIT Developed UCITS ETF (CHF-Hedged) FTSE NAREIT Developed Index TER: 0.240%	More information
	HSBC Global Funds ICAV - Global Sustainable Government Bond UCITS ETF (CHF-Hedged) Bloomberg MSCI Global Treasury ESG Weighted Bond Index TER: 0.110%	More information
	HSBC Global Funds ICAV - Global Government Bond UCITS ETF (CHF-Hedged) FTSE World Government Bond Index TER: 0.080%	More information
	HSBC Global Funds ICAV - Sustainable Development Bank Bonds UCITS ETF (CHF-Hedged) FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped Index TER: 0.112%	More information
	HSBC Global Funds ICAV - Global Corporate Bond UCITS ETF (CHF-Hedged) Bloomberg Global Aggregate Corporate Bond Index TER: 0.110%	More information
	HSBC Global Funds ICAV - Global Aggregate Bond Index Fund (CHF-Hedged) Bloomberg Global Aggregate Bond Index TER: 0.067%	More information
	HSBC Global Funds ICAV - Euro Corporate Bond UCITS ETF XCHCHF Bloomberg Euro Aggregate Corporate Bond Index (total return) TER: 0.060%	More information
	HSBC Global Funds ICAV - Euro Lower Carbon Government 10+ Year Bond UCITS ETF SCHCHF Bloomberg Euro Treasury 10+ Year Carbon Tilted Index TER: 0.105%	More information
	HSBC Global Funds ICAV - Euro Lower Carbon Government 1-3 Year Bond UCITS ETF SCHCHF Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index TER: 0.105%	More information
	HSBC Global Funds ICAV - Global Aggregate Bond ESG UCITS ETF S6CHCHF Bloomberg MSCI Global Aggregate SRI Carbon ESG-Weighted Select Index TER: 0.070 %	More information
	HSBC Global Funds ICAV - Japan Government Bond UCITS ETF SCHCHF Bloomberg Japan Treasury Index (total return) TER: 0.060 %	More information
	HSBC Global Funds ICAV - US Corporate Bond UCITS ETF XCHCHF Bloomberg US Corporate Bond Index (total return) TER: 0.080 %	More information

Key Risks

The value of an investment in the portfolios and any income from them can go down as well as up and as with any investment you may not receive back the amount originally invested.

Counterparty Risk: The possibility that the counterparty to a transaction may be unwilling or unable to meet its obligations
Derivatives Risk: Derivatives can behave unexpectedly. The pricing and volatility of many derivatives may diverge from strictly reflecting the pricing or volatility of their underlying reference(s), instrument or asset
Exchange Rate Risk: Changes in currency exchange rates could reduce or increase investment gains or investment losses, in some cases significantly
Index Tracking Risk: To the extent that the Fund seeks to replicate index performance by holding individual securities, there is no guarantee that its composition or performance will exactly match that of the target index at any given time (“tracking error”)
Investment Leverage Risk: Investment Leverage occurs when the economic exposure is greater than the amount invested, such as when derivatives are used. A Fund that employs leverage may experience greater gains and/or losses due to the amplification effect from a movement in the price of the reference source
Liquidity Risk: Liquidity Risk is the risk that a Fund may encounter difficulties meeting its obligations in respect of financial liabilities that are settled by delivering cash or other financial assets, thereby compromising existing or remaining investors
Operational Risk: Operational risks may subject the Fund to errors affecting transactions, valuation, accounting, and financial reporting, among other things

Risk Warning

Index-based Investing - The value of investments and any income from them can go down as well as up and investors may not get back the amount originally invested. Where overseas investments are held the rate of currency exchange may also cause the value of such investments to fluctuate. Investments in emerging markets are by their nature higher risk and potentially more volatile than those inherent in some established markets. Stock market investments should be viewed as a medium to long term investment and should be held for at least five years. Any performance information shown refers to the past and should not be seen as an indication of future returns.