ETF Strategies

After years of geopolitical tensions, technological upheaval and interest rate uncertainty, ETF strategies in 2026 are increasingly focused on structural growth and long-term themes. Investors are increasingly turning to sectors with sustained growth drivers rather than short-term market movements.

Artificial Intelligence as a Dominant Investment Theme

AI ETFs are among the most prominent investment themes of the current year. An AI ETF is an exchange-traded index fund that specifically invests in companies that develop, use or benefit from the spread of artificial intelligence – from semiconductor manufacturers to cloud providers to software developers.

The total expense ratio (TER) for AI ETFs ranges from 0.30 to 0.50 percent per year according to market surveys. This cost structure corresponds to industry-standard rates for thematic ETFs, which typically have higher management fees than broad market indices.

An important aspect when selecting: Too strong a focus on semiconductor companies can increase the cyclical vulnerability of the portfolio. Semiconductor manufacturers are subject to pronounced demand cycles, which can lead to greater price fluctuations than with broader diversified AI strategies.

Convergence of AI and Energy Infrastructure

In the European market, HANetf jointly with Defiance ETFs has launched an AI and energy infrastructure ETF. This addresses a structural trend: the massive energy requirements of data centers and AI systems require parallel investments in energy generation, storage technologies and network infrastructure. The convergence of these two areas is developing into a central theme in global markets.

Further Strategic Priorities for 2026

In addition to artificial intelligence, several investment segments have established themselves as relevant additions to ETF portfolios:

• Gold: The precious metal traditionally serves as a hedge against inflation and geopolitical uncertainties
• Rare Earths: These raw materials are essential for electric mobility, renewable energy and electronics
• Defense: Geopolitical tensions and rising defense budgets in Europe and North America support demand
• Energy Infrastructure: Expansion of power grids, storage solutions and generation capacity for the energy transition

These areas cover different growth drivers – from long-term transformation trends to cyclical hedging strategies. None of these strategies offers a guarantee of success.

Security Aspects and Risk Profiles

Due to their broad diversification across different sectors and companies, ETFs are generally considered a comparatively low-risk investment option for the long term when compared to individual stocks. They benefit from two essential protection mechanisms:

Special Assets Protection: ETFs are legally classified as special assets. This means the invested capital is legally separated from the assets of the issuing financial company. In the event of insolvency of the fund company, investor capital remains protected and does not fall into the insolvency estate.

Diversification Effect: By investing in a basket of securities, individual security risk is significantly reduced. The default or price collapse of a single company has only a limited impact on overall performance.

Exception: Crypto ETPs with Higher Risk Profile

An important exception is crypto ETPs (Exchange Traded Products). Due to the high volatility of digital assets and the limited number of underlying assets, these have a significantly higher risk profile than classic equity ETFs. Price fluctuations can be substantial within short periods of time, and regulatory uncertainty remains an additional risk factor.

Strategic Considerations for Investors in the DACH Region

For investors in Switzerland, Germany and Austria, a multi-stage approach is recommended when selecting ETFs. A core portfolio of broadly diversified equity and bond ETFs forms the foundation. Thematic ETFs on AI, commodities or infrastructure can serve as satellite components, but should represent a limited portfolio share due to their higher volatility and cost structure.

The tax treatment of ETFs differs across the DACH region: in Germany and Austria, income is subject to capital gains tax or income tax, while in Switzerland capital gains must be declared as part of income tax. Accumulating ETFs, which automatically reinvest income, offer tax advantages over distributing variants when taxation only occurs upon sale.

Cost structure remains a decisive success factor for long-term returns. While broad market ETFs on SMI, DAX or MSCI World are available with TER values of 0.05 to 0.20 percent, thematic products such as AI ETFs are noticeably higher at 0.30 to 0.50 percent. This cost difference adds up over decades to a significant return differential.