Efektivita investičních fondů jako formy individuálního spoření na důchod v České republice

This bachelor’s thesis examines the efficiency of selected investment products as vehicles for individual retirement saving in the Czech Republic. The aim of the thesis is to design and apply an evaluation framework that enables a comparison of selected ETFs, an open-end mutual fund, and participating pension funds in terms of return, risk, costs, currency conversion, and real return after accounting for inflation. The study uses secondary publicly available data for the period 2019–2024, including historical ETF prices, exchange rates from the Czech National Bank, inflation data from the Czech Statistical Office, data from the Association of Pension Companies of the Czech Republic, and product documentation of the selected mutual fund. The results show that during the observed period, the highest efficiency was achieved by low-cost equity ETFs, particularly CSPX.UK and IWDA.UK, while among products denominated in CZK, the dynamic participating pension fund performed best.