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68% of US advisors invested in commodities now treat them as strategic, not tactical — per Aberdeen / CoreData, April 2026. Average exposure is 4.6%; 44% of those advisors say it should exceed 6%. The 26 Swiss-distributable funds below are the shortlist for closing that gap.
Vontobel Commodity HI CHF
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| # | Fund | Sub-category | Edge | 1Y | Factsheet | Report |
|---|---|---|---|---|---|---|
| S | Vontobel Fund - Commodity HI (hedged), CHF LU0415416287 | Broad Commodities | Active commodity-curve positioning + covered-call overlay; CHF-hedged institutional class (PM Kerstin Hottner since 2009). | +31.4% | ⬇ Factsheet | ⬇ WSP Report |
1Y: trailing 12 months to 31 March 2026.
Active against the Bloomberg Commodity Index TR (CHF hedged) — curve positioning is set fundamentally, not by calendar, with a covered-call overlay layered on top of the futures book.
Kerstin Hottner has run the book since the CHF share class launched in February 2009. Seventeen years across multiple commodity regimes. 3-year return: +9.7% p.a. 3-year Sharpe: 0.76.
Luxembourg UCITS, SFDR Article 6 (no green-mandate constraints), TER 1.08%, CHF-hedged, USD 758 million in fund size — the structural fit for a 3-7% real-assets sleeve in a Swiss mandate.
Real Estate (5 funds)
| # | Fund | Sub-category | Edge | 1Y | Factsheet |
|---|---|---|---|---|---|
| 13 | SF Property Securities Fund N CH0234813464 | CH Listed Real Estate / REITs | Peer-2-of-525; rare active alpha in a reflex-indexed category. | +9.9% | ⬇ Factsheet |
| 17 | LO Institutional Strategies (CH) - Swiss Real Estate Securities Z CH1341568637 | CH Listed Real Estate / REITs | Peer-9-of-525; not an SXI index copy. | +6.3% | ⬇ Factsheet |
| 20 | Synchrony Swiss Real Estate Indirect Fund M CH0336870537 | CH Listed Real Estate / REITs | Peer-12-of-525; disciplined sub-sector positioning. | +7.7% | ⬇ Factsheet |
| 23 | DWS Invest Global Real Estate Securities CHF ICH (P) LU2861043714 | Global Listed Real Estate / REITs | Global REIT exposure without USD volatility. | +11.7% | ⬇ Factsheet |
| 26 | Swisscanto (CH) Index Fund V - SWC (CH) Index Real Estate Fund World (ex CH) indirect NTH1 CHF CH1391779050 | Regional Listed Real Estate / REITs | Only passive on the list — negligible tracking drag. | +9.4% | ⬇ Factsheet |
Infrastructure (2 funds)
| # | Fund | Sub-category | Edge | 1Y | Factsheet |
|---|---|---|---|---|---|
| 22 | First Sentier Global Listed Infrastructure Fund Class I (Monthly Distributing) USD IE0008RSOEY0 | Listed Infrastructure Equity | Peer-6-of-160; income-distributing benchmark name. | +17.6% | ⬇ Factsheet |
| 25 | BlackRock Global Funds - Global Listed Infrastructure Fund ZI2 EUR Accumulating LU2903325160 | Listed Infrastructure Equity | Peer-7-of-160; cheapest large-scale active infra for CH QIs. | +15.4% | ⬇ Factsheet |
Natural Resources (5 funds)
| # | Fund | Sub-category | Edge | 1Y | Factsheet |
|---|---|---|---|---|---|
| 2 | JSS Investmentfonds II - JSS Sustainable Equity - Strategic Materials Y USD Inc LU2752694500 | Natural Resources Equity | Top of 167; transition-materials thesis. | +81.6% | ⬇ Factsheet |
| 3 | Incrementum Active Gold Fund EUR-V LI1309461484 | Precious Metals Equity | Top of 33; active gold-equity, off-index positioning. | +57.0% | ⬇ Factsheet |
| 4 | BlackRock Global Funds - World Mining B2 LU2776654506 | Natural Resources Equity | Peer-2-of-167; diversified mining benchmark. | +80.9% | ⬇ Factsheet |
| 6 | Fidelity Funds 2 - Transition Materials Fund A EUR Acc LU2701010469 | Natural Resources Equity | Peer-6-of-167; names indexes structurally underweight. | +76.7% | ⬇ Factsheet |
| 11 | abrdn SICAV I - Future Minerals Fund X Acc GBP LU2811882161 | Natural Resources Equity | Peer-11-of-167; lithium, copper, rare earths tilt. | +84.4% | ⬇ Factsheet |
Commodities (14 funds)
| # | Fund | Sub-category | Edge | 1Y | Factsheet |
|---|---|---|---|---|---|
| 1 | DNCA Invest Strategic Resources Class SI EUR Acc LU2707622556 | Broad Commodities | Top of commodities; industrial-policy framing. | +46.9% | ⬇ Factsheet |
| 5 | UBS Gold Income Maximizer Index Fund USD I-A dis CH1406166137 | Precious Metals Commodities | Gold + written-call overlay; peer-2-of-133. | +29.5% | ⬇ Factsheet |
| 7 | Invesco Funds SICAV - Invesco Commodity Allocation Fund A (EUR)-Acc Shares LU2606014079 | Broad Commodities | 3Y Sharpe 0.99; top in broad-commodity peers. | +46.7% | ⬇ Factsheet |
| 8 | Lombard Odier Funds - Transition Materials (USD) ND LU0640921465 | Broad Commodities | Transition-tilt; peer-7-of-314. | +50.2% | ⬇ Factsheet |
| 9 | Swisscanto (CH) Index Fund IV - Swisscanto (CH) Index Fund Gold Smart Sourcing & Traceable NT CHF CH1416137086 | Precious Metals Commodities | CHF institutional; traceable-bar physical gold. | +33.7% | ⬇ Factsheet |
| 10 | UBS Gold Index Fund CHF I-A acc CH1390275316 | Precious Metals Commodities | CHF physical gold; pure beta + cost discipline. | +33.5% | ⬇ Factsheet |
| 12 | BCV Physical Gold ESG D CHF CH1281992631 | Precious Metals Commodities | ESG bullion-chain screen; niche mandate. | +33.2% | ⬇ Factsheet |
| 14 | Swisscanto (CH) Index Fund IV - Swisscanto (CH) Index Precious Metal Fund Gold Physical CT USD CH1407556161 | Precious Metals Commodities | USD institutional; disciplined physical bullion. | +40.4% | ⬇ Factsheet |
| 15 | Pictet CH Precious Metals Fund - Physical Gold HP EUR CH1268398026 | Precious Metals Commodities | Institutional CH; EUR-hedged. | +34.3% | ⬇ Factsheet |
| 16 | JSS Commodity - Transition Enhanced E1 CHF Acc Hedged LU2833321958 | Broad Commodities | Active broad commodity; CHF-hedged transition-tilt. | +35.6% | ⬇ Factsheet |
| 18 | Morgan Stanley Investment Funds - Parametric Commodity Fund Z Acc LU2607330102 | Broad Commodities | Parametric overlay; peer-11-of-314. | +46.1% | ⬇ Factsheet |
| 19 | JSS Commodity - Diversified (CHF) I30 CHF dist CH1364294970 | Broad Commodities | CHF institutional; hedged broad commodity. | +37.7% | ⬇ Factsheet |
| 21 | Incrementum Active Commodity Fund CHF-S LI1310333888 | Broad Commodities | Sister to active gold; independent vs index. | +30.2% | ⬇ Factsheet |
| 24 | PI Privatinvestor SICAV - 3 PI Physical Gold Fund - EUR LI1381606972 | Precious Metals Commodities | LI-domiciled physical gold; non-EUR option. | +32.4% | ⬇ Factsheet |
The same merit-based discipline runs across the other verticals:
- Long Only — the core portfolio — equity, fixed income, mixed allocation
- Active ETFs — active wrappers and research-enhanced implementation
- Private Markets — illiquid capital and access-led strategies
- Alternatives — diversifiers and absolute-return strategies
If someone on your team builds fund lists, forward this email.
The WS Partners Team
For qualified and professional investors only (CISA Art. 10 / FinSA). Marketing material, for information only — not investment advice, a recommendation, or an offer or solicitation to buy or sell any fund or security. Past performance is not a reliable indicator of future results and the value of investments can fall as well as rise. Before investing, read the fund's prospectus and Key Information Document. Issued by Wealth Solutions Partners SA, Switzerland.
Edition #1 of the OpenList Real Assets vertical is sponsored by Vontobel. Sponsorship buys visibility and editorial space; it does not influence the merit-based ranking of the funds shown above. WSPartners' selection methodology is unchanged.
OpenList — Market Intelligence for the Professional Allocator
Edition 1, 2026 | Real Assets
WSPartners SA | info@wspartners.ch