To make investing in the strategies easier, Leonteq has launched three ETP+ instruments. The participation products are denominated in Swiss francs, have no fixed term and track the performance of the respective SmartAdapt index. They can be traded on Swiss stock markets. In addition, they are secured by a pledge: collateral is deposited with SIX SIS for each ETP+, with SIX Repo acting as the collateral agent. This reduces the classic issuer risk associated with a structured product. The total expense ratio is 0.80% p.a.; conversely, net dividends are reinvested. This gives investors a continuously managed multi-asset solution in a single product without the need to select asset classes themselves or rebalance their portfolio on a regular basis.<\/p>\n\n
The most defensive entry point is the ETP+ on the SaW SmartAdapt Portfolio Konservativ Index. The equity ratio ranges from just 10% to 35%. It is dominated by bonds and Swiss property, which means that preserving capital takes precedence over maximising a return. The product is thus aimed primarily at risk-aware investors who want their money to work in the long term, but are only willing to tolerate a limited degree of stock market volatility. Given the significant movements seen on interest rate markets at the moment, however, this also highlights precisely why a broad split is important: bonds are not automatically a safe haven. The addition of equities, property and precious metals spreads the risks over several sources of return.<\/p>\n\n
The ETP+ on the SaW SmartAdapt Portfolio Balanciert Index offers more freedom of manoeuvre. Here the equity allocation can vary between 20% and 65%. The portfolio thus seeks to achieve two objectives in one: to benefit sufficiently from rising share prices when market conditions are favourable, and to maintain enough stabilising components during more challenging periods. This version follows the classic middle path: investors do not have to commit permanently to either an aggressive or a defensive strategy. Instead, this decision is taken by the sensor week by week within its bandwidth. That the concept has worked well in practice so far is evident from the proven track record of almost 4% in the year to date.<\/p>\n\n\n
Anyone who has a long investment horizon and accepts greater fluctuations will find the ETP+ on the SaW SmartAdapt Portfolio Dynamisch Index the most opportunity-driven of the three anniversary strategies. The equity allocation can range between 40% and 85%. With a rise of 5.6% by the end of July, the dynamic version leads the way for the original three products in 2026. However, the trio has since become a small product family: the SaW SmartAdapt Portfolio Offensiv Bitcoin/Gold (ISIN CH1505568977) and the SaW SmartAdapt Portfolio Offensiv Innovation/Gold (ISIN CH1505568985) were added to the range in January. In principle, both hold 80% in equities, half of them from Switzerland and half from elsewhere. In the first of them, the remaining 20% is dynamically allocated between Bitcoin and gold, while in the other product this role is assumed by a mix of innovation equities and gold. And with success: both products are in positive territory this year, with Offensiv Innovation/Gold even posting an impressive double-digit return. One year after its launch, then, the successful SmartAdapt spectrum covers everything from cautious wealth accumulation to an aggressive pursuit of returns, all underpinned by the same concept of not sticking rigidly to an allocation once chosen, but allowing the portfolio to move systematically in step with the market.<\/p>\n\n\n