The Swiss Performance Index (SPI) 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.

In 2025, additionally a Net-Return variant of the SPI Index was introduced.

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 (direct + indirect) 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:

the Swiss Market Index and the SPI 20 the SMI MID and the SMI Expanded the SPI Extra, defined as the complement of the SMI in the SPI universe the Swiss Leader Index and its complement, the SPI ex SLI various subindices of the SPI, by size and sector, described further down

Components

Below is the list of the 202 SPI shares as of July 19, 2026. It is based on publicly available information and may be inaccurate, in particular for companies with low free float. 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.

Symbol Company SMI Family Listing Remarks ABB SMI Accelleron SMI MID 2022 Adecco SMI MID Adval Tech Holding Addex Pharmaceuticals Montana Aerospace 2021 Aevis Victoria previously Aevis Holding Alcon SMI 2019 Allreal Holding 2000 ALSO Holding Amrize SMI 2025 ams AG headquarters outside Switzerland APG SGA AG Arbonia previously AFG Arbonia-Forster-Holding Aryzta 2008 Ascom ASmallWorld 2018 Autoneum 2011 Avolta SMI MID 2005 Was previously Dufry Julius Bär SMI MID 2009 Bachem Holding Barry Callebaut SMI MID Bellevue Group Banque Cantonale de Genève Burckhardt Compression 2006 Banque Cantonale du Jura Banque Cantonale Vaudoise Belimo Holding SMI MID Bell Food Group Berner Kantonalbank 2000 BB Biotech Bioversys 2025 BKW Energie 2003 Basellandschaftliche Kantonalbank Bajaj Mobility 2016 previously KTM Industries, Pierer Mobility Bossard Holding Burkhalter Holding 2008 Basler Kantonalbank Basilea Pharmaceutica 2004 Bucher Industries BVZ Holding 2007 Bystronic AG previously Conzzeta Calida Compagnie Financière Richemont SMI Compagnie financière Tradition Cham Swiss Properties 2025 merged from Ina Invest Cicor Technologies Clariant SMI MID Coltene Holding Cembra Money Bank 2013 Centiel 2026 Cosmo Pharmaceuticals 2007 headquarters outside Switzerland Comet Holding 2002 CPH Chemie + Papier 2001 Curatis 2024 reverse merger with Kinarus Dätwyler Holding Dottikon ES DKSH 2012 DocMorris 2023 previously Zur Rose Group Dormakaba DSM-Firmenich 2023 merger between Dutch Royal DSM and Firmenich EFG International 2005 Elma Electronic low free float (still in SPI?) Emmi 2004 Ems-Chemie SMI MID Epic 2022 Edisun Power 2008 Evonext 2009 previously Evolva Flughafen Zürich AG SMI MID Forbo Holding Fundamenta Real Estate AG 2018 Feintool International Holding Galderma SMI MID 2024 Galenica SMI MID 2017 GAM Carlo Gavazzi Holding Geberit SMI Georg Fischer SMI MID Givaudan SMI 2000 Glarner Kantonalbank 2014 Groupe Minoteries SA Graubündner Kantonalbank Gurit Holding Helvetia Bâloise SMI MID 2025 Merged from Bâloise and Helvetia Hypothekarbank Lenzburg HIAG Immobilien 2014 Highlight Event and Entertainment Holcim SMI Huber + Suhner Idorsia 2017 INFICON 2001 Implenia Infracore 2026 Interroll Investis Intershop Holding Jungfraubahn Kardex Group Klingelnberg 2018 Kühne + Nagel SMI Komax Holding Kudelski Kuros Biosciences Landis+Gyr 2017 Leclanché Lem Holding Leonteq Lindt & Sprüngli SMI MID registered share Lindt & Sprüngli SMI MID participation certificate Liechtensteinische Landesbank headquarters outside Switzerland lastminute.com headquarters outside Switzerland Logitech SMI Lonza Group SMI Luzerner Kantonalbank MCH Group 2001 Medartis 2018 medmix 2021 spin off from Sulzer Metall Zug Mikron Holding Mindmaze Therapeutics 2025 combination with Relief Therapeutics Mobimo Holding 2005 Molecular Partners 2014 Medacta Group 2019 Mobilezone 2001 Meier Tobler Nestlé SMI Novartis SMI Novavest Real Estate 2019 Newron Pharmaceuticals 2006 headquarters outside Switzerland OC Oerlikon Orell Füssli Orior 2010 Peach Property 2010 Perrot Duval Holding Private Equity Holding Partners Group SMI 2006 Plazza 2015 Phoenix Mecano Polypeptide 2021 PSP Swiss Property SMI MID 2000 Romande Énergie Rieter Roche I SMI MID Roche PS SMI R&S Group 2023 first successful SPAC in Switzerland, 2023 Santhera Pharmaceuticals Holding 2006 Schindler Holding SMI MID registered share Schindler Holding SMI MID participation certificate Swisscom SMI Sandoz 2023 spin off from Novartis Sensirion Holding 2018 SF Urban Properties SFS Group 2014 Siegfried Holding AG St.Galler Kantonalbank 2001 SGS SMI MID SHL Telemedicine SIG Combibloc Services AG SMI MID 2018 Sika AG SMI Skan 2021 previously BV Holding on the BX exchange Swiss Life SMI Swiss Marketplace Group 2025 Schweizerische Nationalbank Sonova SMI MID Swiss Prime Site SMI MID 2000 Swissquote 2000 Stadler Rail 2019 Swiss Re SMI StarragTornos merger between Starrag and Tornos in 2023 Straumann Group SMI MID Schlatter Holding Sulzer AG Sunrise 2024 spin off from Liberty Global, second time it is listed SoftwareONE 2019 Schweiter Technologies Tecan Temenos Group SMI MID 2001 Titlis Bergbahnen Thurgauer Kantonalbank 2014 TX Group 2000 previously Tamedia UBS SMI 1998 Swatch Group SMI MID bearer share Swatch Group registered share VAT Group SMI MID 2016 Vaudoise Assurances Varia US Properties 2016 Valiant Holding IVF Hartmann Holding Vetropack Holding Villars Holding Valartis Group still in the SPI? Vontobel VP Bank headquarters outside Switzerland VZ Holding V-Zug 2020 Warteck Invest WISeKey 2016 Walliser Kantonalbank Xlife Sciences 2022 Ypsomed Holding 2004 Zehnder Group Züblin Immobilien Holding Zuger Kantonalbank Zug Estates 2012 Zurich Insurance Group SMI

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 a proprietary sector classification by SIX, 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.

Investing

The SPI index is tracked by several Exchange Traded Funds, such as the iShares Core SPI ETF or the UBS ETF (CH) SPI. In addition, various providers are offering structured investment products using the SPI index as underlying.

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.

Company Remarks Alpine Select Investment Index Baumgartner Castle Alt Investment Index Castle Private Investment Index Datacolor EEII Energiedienst ENR Russia Invest HBM Investment Index nebag Investment Index New Value Investment Index Panalpina The Native Investment 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 (-20% from the peak) persists; parentheses indicate that the value will be seen again if we reenter a bull market (maximum value reached again); Other values may be seen again in case of a crash (assuming a threshold of -50%).

(Closing price) Value First seen Latest seen Calibration 1,000.00 June 1, 1987 February 21, 1991 Minimum (all times) 753.44 January 13, 1988 January 13, 1988 Milestone 2,000.00 January 31, 1994 October 30, 1995 Milestone 3,000.00 April 22, 1997 April 2, 2003 Milestone 4,000.00 January 28, 1998 March 31, 2009 Milestone 5,000.00 July 1, 1998 November 28, 2011 Milestone 6,000.00 February 16, 2006 November 19, 2012 Milestone 7,000.00 January 3, 2007 June 26, 2013 Milestone 8,000.00 January 13, 2014 February 15, 2016 Milestone 9,000.00 December 3, 2014 January 3, 2017 Milestone 10,000.00 April 27, 2017 March 24, 2020 Milestone 11,000.00 January 9, 2018 March 30, 2020 Milestone 12,000.00 June 18, 2019 May 18, 2020 Milestone 13,000.00 January 17, 2020 September 21, 2020 Maximum (all times) 13,561.17 February 19, 2020 (February 19, 2020)

External links Statistical data since 1987

Notes and references