SMI

The Swiss Market Index (SMI) is Switzerland’s leading stock index and serves as the country’s blue-chip index. It comprises the 20 most liquid and largest stocks listed on the SIX Swiss Exchange. As such, the SMI represents approximately 80 percent of the total market capitalization of the Swiss stock market and serves as the most important global indicator of its performance.

The SMI was introduced on June 30, 1988 (the first publication took place on July 1, 1988) and started with a base value of 1'500 points.

Its composition is dominated by globally active heavyweights such as Nestlé, Roche, and Novartis, which gives the index a defensive character. Since it is calculated as a price index, dividends – unlike in the Swiss Performance Index (SPI) – are not included in the point total.

The SMI surpassed the historic 10'000-point mark for the first time in 2019 and climbed above 13'000 points in February 2025.