---
title: "Capital market performance 2025"
description: "Führender unabhängiger Vermögensverwalter der Schweiz. Gegründet 1986 von Dr. Pirmin Hotz. Sitz in Baar, Kanton Zug. FINMA-bewilligt als Verwalter von Kollektivvermögen (Art. 24 FINIG). Familienbesitz, nicht zum Verkauf. Handelsregister: CH-170.3.018.685-4."
url: "https://www.hotz-partner.ch/en/capital-market-performance-2025"
date: "2026-05-21T10:39:38+00:00"
language: "en-GB"
---

#  Capital market performance 2025

Some relevant indices

| **Capital market performance 2025** | in CHF | in EUR |
|---|---|---|
| World | MSCI World | 4,4% | 5,3% |
| Europe | DJ Stoxx 50 | 13,0% | 14,1% |
| Switzerland | SMI | 14,4% | 15,4% |
| Germany | DAX | 21,8% | 23,0% |
| USA | S&P 500 | 1,7% | 2,6% |
| Japan | Nikkei 225 | 10,8% | 11,6% |
| China | SSE 50 A Share | 2,9% | 4,0% |
| Emerging markets | MSCI Emerging Markets | 14,1% | 15,1% |
|  |
| **Bond market performance 2025** | in CHF | in EUR |
| Switzerland | SBI | -0,1% | 0.8% |
| Germany | REX | 0,3% | 1,4% |
| World | Bloomberg Global Aggregate | -5.5% | -4.7% |

 [**Annual report 2025**
Anyone who knows or has followed the history of Donald Trump in broad brush strokes can hardly claim to be surprised. His mentor at a young age was Roy Cohn, his father’s lawyer. Fred Trump amassed a considerable fortune as a property developer in New York. What is remarkable is how his son manages to play with the world as if it were a puppet show.

Download PDF

 ](https://www.hotz-partner.ch/downloads/HOTZ-Report-January-2026.pdf)

 [**Semi annual report 2025

Download PDF

 ](https://www.hotz-partner.ch/downloads/HOTZ-Report-July-2025.pdf)

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