Posouzení možností dlouhodobého investování v České republice

Abstract

This bachelor thesis focuses on a comparative analysis of mutual funds, exchange-traded funds (ETFs), and pension funds in terms of their returns, risk levels, and cost structures. The analysis is based on investment products available to retail investors on the Czech financial market. The objective of the thesis is to provide a comprehensive overview of the long-term performance of different investment instruments and contribute to more informed investor decision-making. The evaluation uses historical data spanning 11 to 16 years, processed in Microsoft Excel using standard statistical and financial formulas. Key performance indicators include total return, geometric average annual return, and standard deviation, the latter serving as a measure of volatility and risk. In addition, the study examines various fees associated with each investment type, including entry fees, management fees, and performance-based charges. The findings show that ETFs generally deliver the highest returns while maintaining minimal fees, making them the most cost-effective investment option. Traditional mutual funds are less efficient due to higher costs. Pension funds, particularly transformed funds, offer the lowest returns and lowest volatility, making them suitable for conservative investors. Participating (third-pillar) pension funds, especially dynamic ones, provide greater return potential but come with increased risk. A unique advantage of pension savings lies in state contributions, which significantly enhance their value over the long term. The study confirms that the optimal investment choice depends on the individual investor’s risk tolerance, investment horizon, and personal financial goals. In conclusion, it is recommended that investors choose their investment products according to their risk tolerance and investment horizon.