This is a swiss specific forum, as a us you want boggleheads forum
That being said, currencies in equity funds don’t matter at all. You can buy S&P 500 in USD in US, and EUR CHF or GBP here in europe, it doesn’t matter, it’s the same thing modulo fund provider, some tax concerns and fees, European funds ate more expensive and probably you’ll get double or even triple taxed as a US, and will have a PFIC problem…
What matters a lot more is the underlying currency exposure of the companies in the index, where they do business and get paid. For example Philip Morris is an american company, quoted in USD on american exchanges but they have no US sales. They make all the money abroad and so negatively correlated with US dollar value. Or Nestle - only 1-2% revenues are swiss sourced, it’s laughably to think it has anything to do with representing the swiss economy. Half of S&P 500 revenues or so are foreign so its a quite diverse and good index actually, dont’ underestimate it
Hedged stock funds make therefore little sense. They hedge only currency in the stock prices, but that’s not the most important variable. Besides it’s crazy expensive these days, 3% per year and rising
For bonds though hedging might make sense. Currency is directly related to return, and fx volatility is usually higher than bond yields. But hedging US governement bonds for EUR will mean for example you’ll yield about the same as european EUR government bonds, i.e. about zero or negative