I was referring to Gold ETFs hedged to CHF, as I saw the fact sheet (attached) of ZGLD offering funds hedged, but as you said the trading currency is USD so the hedging for long term would not make much sense here…
The only thing that I am not able to see in the documentation of the funds is if the custody cost is covered in the TER?
ZGLD is in CHF from ZKB, no? And trades in CHF? There was nothing attached, are you sure there are hedged versions, because the sense of that is limited IMO.
What do you mean by custody cost?
At what broker/bank are you going to keep your ZGLD ETF? If your bank (eg Swissquote (0.1% p.a.), Migrosbank (0.23% p.a.), and many others) charges you a certain % p.a. custody fees (Verwahrung) for stocks in depot, then no, these custody fees are not in the TER.
ZKB may have the “special rule”, that ZKB ETF’s are free of custody fees in a depot at ZKB, check their fee brochure.
The main ZGLD ETF is not hedged but both ZKB and UBS offer Gold ETF classes with currency hedging against USD as USD is the main trading currency for physical gold. I also don’t think it makes sense to currency hedge a physical asset, though, unless you want to simultaneously bet against USD.