Well, let’s see…
1 year: USD went from 0.96 to 1.00 CHF
5 years: USD went from 0.89 to 1.00 CHF
You got me, no idea why the USD one made 32% in 5 years, and CHF less than 6%. Maybe CHF hedging is just so much more expensive. Or maybe since probably half of the stuff is in USD, then they don’t need to hedge it, so it’s cheaper.
Here the unhedged one, and all returns in USD. The hedged USD one did a much better job than unhedged. I guess if you hedge and your currency gets stronger, you win. If the hedged currency gets weaker then you lose.
