Selma vs Inyova – Best Robo-Advisor for Sustainable Investing?

By Baptiste Wicht | Updated: | Investing

(Disclosure: Some of the links below may be affiliate links)

Many of you have asked me about sustainable investing and how they should invest in Sustainable Instruments. Specifically, many have asked which Robo-Advisor they should use for sustainable investing.

The two main Robo-Advisors for sustainable investing in Switzerland are Selma Finance and Inyova. So, today, we are going to compare Selma vs Inyova for easy investment in sustainable companies.

Both Selma and Inyova allow for sustainably investing your assets. But both have different approaches, limitations, and fees. When you want to invest with a Robo-Advisor, you want to select the best Robo-Advisor for your needs. So, let’s see which of Selma or Inyova you should use if you want to invest sustainably in Switzerland.

I am going to compare Selma vs Inyova on different factors. We are going to check their fees, their investment minimums, and their investing strategies.

Keep in mind that I do not invest with Robo-Advisors and do not focus on sustainable investing.

Sustainable Investing

Before we talk about Selma vs Inyova, let’s start with the big question: what is sustainable investing?

Sustainable investing is an investing strategy where you only invest in instruments that are sustainable for the future. This strategy is a way to invest only in things that will positively affect the world and its society.

Here are some examples of things you can avoid when investing sustainably:

  • Fossil fuel companies
  • Weapon companies
  • Alcohol and tobacco companies
  • Nuclear energy companies

On the other hand, here are some companies on which you can focus more when investing sustainably:

  • Solar energy companies
  • Waste reduction companies
  • Electric car companies
  • Self-sustainable housing companies

There are a few other names, such as impact investing, green investing, ethical investing, or eco-investing. But another big name that you may have heard is ESG investing. ESG stands for Environment Social and Governance. These are not the same things, but they fall under the same philosophy.

These last few years, Sustainable Investing has become more and more popular. There are now many mutual funds, ETFs, and Robo-Advisors that follow this form of investing.

People have two main reasons for investing like this:

  1. Some people want to invest their money in companies that work on improving the world. Or they do not want to invest in companies that supposedly hurt the world, like the weapon industry, nuclear power, or gas companies.
  2. Some people believe that sustainable investing will yield more returns in the future. They believe that many companies that are not sustainable now will fail in the future, and as such, it is better not to invest in them now. Contrary to the first reason, this is an optimization for returns.

That is enough of an introduction for this comparison. If you want to learn more, I have a complete article about sustainable investing.

If you want to invest in sustainable instruments and prefer to use Robo-Advisors, you will want to choose the best Robo-Advisor for your needs.

So, let’s start comparing Selma vs Inyova.

Selma Finance

Perfect to get started
Selma Robo Advisor
Great Robo-Advisor

Invest easily with Selma: a great way to invest in the stock market without the hassle of doing it yourself.

  • Beginner-Friendly
  • Degressive Fees

Let’s start with Selma Finance. It is a Swiss Robo-Advisor that is focusing on a personal assistant within the service. They are creating a custom portfolio for their investors based on questions that they ask you.

They are a relatively new company. Selma was founded in 2016. They have been very successful since. They now have more than 1500 customers and are managing a large portfolio in the 7-digit range.

Selma Finance does not solely focus on Sustainable Investing. But, they have an option to select only ETFs that will invest in sustainable instruments. So, with Selma, you can invest either in the standard stock market or in the subset that is the sustainable stock market.

You will access Selma with their web interface.

I have already talked about Selma in the past, and for more information, you can read my review of Selma.

Inyova (previously Yova)


A very good Robo-Advisor, with a strong focus on impact investing and sustainable investments.

Inyova is another Swiss Robo-Advisor entirely focused on impact investing. To my knowledge, it is the only Swiss Robo-Advisor that only focuses on sustainable investing. They do not offer investment services for people that do not want to invest sustainably.

Inyova is a new company. It was founded in 2017. But they have been growing quite quickly since their inception. They have secured more than four million in investing. Until June 2021, they were called Yova.

Contrary to most Robo-Advisors, Inyova is not investing in ETFs but directly in stocks. And they are not replicating an index either. Inyova is using a custom strategy to select sustainable companies. So your portfolio will directly be composed of shares of companies doing an excellent job in being sustainable.

The reason they are using this technique is that there are many controversies against sustainable ETFs. The criteria used for sustainable ETFs are very simple, and many questionable industries are part of these indexes.

You can do a few things to customize the investing strategy by choosing some companies you like or do not like and some things you are interested in. Your preferences will be taken into account in your portfolio.

You will be able to access your portfolio from the web interface and the mobile application.

For more information, read my complete review of Inyova.

Investing Strategies

Let’s start by comparing the investing strategies of Selma vs Inyova.

While they are both Robo-Advisors, they are doing something entirely different.

Selma Finance is investing in Exchange Traded Funds (ETFs). It means that your portfolio will be a collection of ETFs with different allocations. For sustainable investing, they are following the ESG criteria.

For the ETFs, they are selecting the Socially Responsible Investing (SRI) indexes. These are indexes by MSCI. For instance, there is the standard MSCI Europe index, and the ESG equivalent is the MSCI Europe SRI Index.

With Selma, you will have a great diversification since the ETFs will invest in many companies, all following ESG criteria.

Inyova has a very different strategy. They do not use ETFs. It means that your portfolio will be composed directly of stocks. Also, they do not use a standard approach like ESG, but they use their custom criteria to assess companies.

Inyova’s strategy is based on the handprint (products and services) and the footprint (way of doing business) of companies. You can learn more about their approach in their whitepaper.

Inyova’s approach is going much further than the ESG approach. They are looking at the impact of the companies on the world, not only on the way they work.

From a pure investing point of view, Selma’s approach is better than Inyova’s. There are two reasons for that. First, with Selma, you will have better diversification since you will have significantly more stocks in your portfolio. And Selma Finance is based on passive investing, which is the way I prefer to invest.

Of course, Inyova is still diversified. You will always have between 30 and 40 stocks in your portfolio. And they are trying to diversify across regions and industries. However, this is difficult to compare with pure passive investing.

Now, as we will see in the next section, there are some limits to sustainable passive investing.

Which is more sustainable? Selma vs Inyova

From a sustainability point of view, it is challenging to compare Selma vs Inyova since they use very different strategies.

As mentioned before, Selma Finance is using ETFs that are following the SRI indexes from MSCI. Socially Responsible Indexes (SRI) go one step further than ESG investing. So, it is considered more sustainable than merely following the ESG principles.

Inyova picks stocks based on their impact investing criteria. They are using strong factors to decide which companies they should invest in each portfolio. Some of their criteria are the same as ESG criteria. But they have other rules that go further as well. In general, they are going much further than simple ESG criteria.

One thing that is interesting with Inyova is that you can customize your portfolio. You can exclude some businesses from your portfolio. For instance, you can decide you do not want to invest in companies that do animal testing.

With sustainable investing, we can see the limits of passive investing. For instance, several ESG and SRI indexes are investing in mining and oil companies. You can also see Alibaba in some of the sustainable indexes. If you take a sustainable point of view, we can see that Alibaba should not be part of such investing. Another example is the presence of many companies that produce plastic bottled water, which is a plague for the environment.

It is also interesting to note that Inyova has been endorsed by the World Wide Fund for Nature (WWF). This endorsement should show that they are working for a better future!

For me, Inyova has a higher quality of sustainable investing. Also, with Inyova, you can customize your portfolio to your values. This feature means you can focus on your personal view of Sustainable investing. So, Inyova is also much better for customization.

Now, Selma is still good, but they take the minimalist approach. Considering that they are a passive investing Robo-Advisor, they are also selecting the best ETFs available.


Most people that want to start investing with Robo-Advisors are people that are afraid of investing or are starting with investing. It means that they are generally not ready to invest large amounts of money.

Therefore, it is essential to be able to start with small amounts of money. For this, we can compare the minimums of Selma vs Inyova.

On this side, it is easy to compare them. Both Selma and Inyova have a minimum investment of 2000 CHF. So, they are both good here. I still think this is slightly too high for some people. A limit of 1000 CHF would probably be better. But 2000 CHF is not a high limit either. And very small portfolios are difficult to rebalance.

Fees – Selma vs Inyova

When you want to invest for the long-term, you want to pay as little fees as possible. In the long term, minimizing fees is important. When you compare services, you need to make sure to take all the small details into account.

Fortunately, both companies are quite transparent about their fees. So, let’s compare Selma vs Inyova in terms of investing fees.

Let’s start with Selma Finance. The base fee is 0.68% per year. However, this can go down to 0.55% when you have 50K invested and down to 0.47% when you have 150K in your portfolio.

On top of that, you still need to pay the fees of the ETFs. For sustainable ETFs, you will pay about 0.3% per year in fees. So, this gives us a total of 0.77% in fees per year.

Inyova has a different approach to pricing. Since they are not using ETFs, they do not have any fees for the management of the assets. So the Inyova fee is all-inclusive. The price is different based on how much money you have invested in your portfolio with Inyova:

  • From 0 CHF to 49’999 CHF, 1.2% yearly fee
  • From 50’000 to 149’999 CHF, 1.0% yearly fee
  • From 150’000 CHF to 499’999 CHF, 0.8% yearly fee
  • From 500’000 CHF, 0.6% yearly fee

If you invest more than half a million with Inyova, the fee will be excellent. Below that amount, the fees are not great.

If you have more than 500’000 CHF invested with Inyova, it will be cheaper than Selma Finance. Very few people will reach that amount. However, you will probably start investing with much less. And that means you will pay a hefty fee for perhaps several years.

For me, this means that Selma has better fees than Inyova, especially for starting investing. Now, if you are planning to invest a very large amount of money (more than 500K CHF) since the beginning, Inyova will be cheaper indeed.

Security – Selma vs Inyova

If you are going to invest a significant amount of money, the security of a Robo-Advisor is fundamental. So, let’s compare the security of Selma vs Inyova.

Selma Finance is regulated as an independent financial advisor. They are using Saxo Bank as a custodian bank. It means that all your assets are registered in your name at Saxo bank. If Selma goes bust, your assets are safe.

Inyova is regulated as an asset managed. They are also using Saxo Bank as a custodian. So, again, if Inyova goes bankrupt, your assets are safe.

From a regulation point of view, both Selma and Inyova offer the same amount of security. You are protected by the custodian bank holding your assets. And the custodian bank is the same in both cases and is regulated as well.

We can also compare the technical security of Selma vs Inyova.

Both services are offering SSL encrypted access. And I have not found any record of breaches with either of these companies. Both services have support for a second factor of authentication.

Online security is paramount, read how to protect your online personal finances.

Summary – Selma vs Inyova

Let’s do a quick summary of the Selma vs Inyova results.

Criteria Selma Finance Inyova
Sustainable Investing Okay Best
Investing Strategy Best – ETF Worse – Stock picking
Diversification Best Good
Trading fees Better Okay
Ease of use Easy Easy
Interface Only web Web & Mobile
Customization None Good
Returns Average Average
Minimums Okay Okay
Security Good Good
Technical Security Good Good

There are some pros and cons to both services.

If you are looking for a service entirely focused on sustainable investing, Inyova is probably your better bet.

Now, if you prefer to focus on the investing side, Selma is a better candidate for a sustainable Robo-Advisor. This result is based on the lower fees and the better investing strategy (no stock picking).

If you are looking for extreme customization, you may want to go with Inyova. You will be able to choose companies yourselves based on a lot of criteria. But if you are not against stock picking, you could probably use a broker to pick the stocks you want. You will divide your fees at least by ten by doing so!


    Perfect to get started
    Selma Robo Advisor
    Great Robo-Advisor

    Invest easily with Selma: a great way to invest in the stock market without the hassle of doing it yourself.

    • Beginner-Friendly
    • Degressive Fees

    To conclude the Selma vs Inyova question, Selma Finance is a better fit for sustainable investing in most cases. Its fees are better unless you invest a substantial amount of money. And they offer more diversification since they are using ETFs and are not picking stocks themselves. Also, they offer 2FA, which should be the bare minimum in terms of security.


    A very good Robo-Advisor, with a strong focus on impact investing and sustainable investments.

    On the other hand, Inyova will offer you better sustainability and greater customization. You will be able to choose some factors that you do not want to see in your portfolio. If you feel strongly about some things (like no animal testing), Inyova could be a good fit for you. Just know that when you are getting started, the fees are high.

    I am not investing in sustainable instruments myself. But if I were to do so, I would choose sustainable ETFs. And if I were to use a Robo-Advisor for sustainable investing, I would go with Selma Finance for passive investing and the lower fees.

    But I understand the need to go further than simple ESG/SRI investing. It is where Inyova shines. They are built entirely to try to provide greater sustainability to the investing world. With Selma, sustainable investing is an add-on, while sustainable investing is the foundation of Yova.

    I will try to dedicate a future article on all the different notions of sustainable investing. But I wanted to cover Selma vs Inyova first since this is what my readers asked me the most.

    If you want to learn more, read my article about Robo-Advisors and whether or not you should invest with them.

    If any of you tried any of these services, I would love to hear about their experience.

    Baptiste Wicht is the author behind In 2017, he realized that he was falling into the trap of lifestyle inflation. He decided to cut on his expenses and increase his income. This blog is relating his story and findings. In 2019, he is saving more than 50% of his income. He made it a goal to reach Financial Independence. You can send Mr. The Poor Swiss a message here.

    25 thoughts on “Selma vs Inyova – Best Robo-Advisor for Sustainable Investing?”

    1. I will start my investment journey at the beginning of 2021. After few days reading your book & blog, I think I will go for one of the robot-advisors with sustainable options. Thank you for this review.

      I actually wanted to share with you that Selma has published 6 days ago the new fees that they will use from 2021. These fees look much more interesting now!

      Since Selma use ETFs and lower fees, I am leaning towards them :).

      1. Hi Piponazo,

        Yes, they updated their fees as of January 2021. I have already updated the article yesterday :)
        They are indeed much more interesting now. I liked them before, but now they are excellent with a large amount of money invested.

        Thanks for stopping by!

    2. Hello,

      Thanks for the comprehensive comparison. I was wondering, given that both yova and selma are investing through saxo bank, is it possible to open an account and invest with both yova and selma at the same time? Is there any conflict of interest?

      Thank you

      1. Hi Pablo,

        That should not be an issue at all. You will just happen to have two different accounts at SAXO bank. This should be entirely transparent for you (and for both robo-advisors, they will only see one account).

        Thanks for stopping by!

    3. I have an account at most of the new investment services in Switzerland, and I have to say Selma is definitely my favorite. The performance was better (but I guess that depends mostly on your personal risk level) but what makes the real difference is their support. The team really cares. At the beginning of the Corona Crisis I had tons of questions and I was scared (like most of us) that I might loose my savings . Selma answerd all my questions within minutes, adjusted my portfolio … I really felt in good hands. Never experienced such fast, good and personal support before.

      1. Hi Cyril,

        Thanks a lot for sharing your experience with Selma. It is great to know that the service was good for you! I have only heard great things about the service at Selma, this is a good sign!

        Good luck with your investments!

    4. Thanks for the post! A comparison with TrueWealth would have also been interesting, they also include a sustainable option and are probably one of the “older” and “larger” robo advisors.

        1. I would also be really interested in a comparison with True Wealth. I’ve opened test accounts with Yova, Selma and True Wealth. From my understanding, True Wealth also allows quite heavy customizing (just click the colorized tiles on the circle which shows your investment strategy). It is also quite a bit cheaper than Selma and Yova (0.25-0.5% depending on investment amount plus TER of products which is below 0.2% in my tests). The investment products of Selma and True Wealth look quite similar (both use ESG). I’ve also noticed that True Wealth provides an nice mobile app (at least it’s listed on my Android store). And the custodian bank of True Wealth is also different (the provide an account with Basellandschaftliche Kantonalbank, which provides a unlimited government guarantee).

          As I’ve said: would be great if you could include True Wealth in your review above. I think it would be really interesting also for others.

          1. Hi Roman,

            Thanks for sharing :)
            I will bump True Wealth Reviews and maybe some in comparisons on my tasks list. I can’t tell you when it will come, but I am definitely planning to work on that.

            Thanks for stopping by!

    5. Good stuff as always! I’m surprised to learn about the deposit needed to lower the fee regardless of the interest earned. That’s not very clear on the website, I need to update my review!
      Another thing worth mentioning with Selma is the better (IMHO) budget approach and Pilar 3a options. Good alrounder.

      1. Hi IH,

        Yes, this is really weird, and disappointing.
        Indeed, Selma is better for small portfolios. I have not checked their 3a option. For now, I do not see advantages compared to VIAC.

        Thanks for stopping by!

    6. Hey buddy, thanks a million for the review, i invested in one of them, maybe now i will invest in both to balance the equation. I always enjoy your eagle eye review on these versatile topic. Keep doing it !

    7. I really like this post, you covered all your bases in terms of technical analysis. More importantly you’re drawing attention to an important cause: Investing our money in to companies that are sustainable and keep in mind the future of our planet. Thanks Mr. The Poor Swiss, keep up the great work!

    8. Great review! I was asking myself which one I will pick to start investing, and I choose Selma Finance (not for the sustainability but for the services and the diversification after open a Yova Account to see how their strategy is made). Also I’ve an interesting information about Yova fees : You have to invest 50’000 CHF to get to the next fee advantage. It means that if your portfolio with Yova exceed 50’000 CHF you’ll not benefit of the next fee advantage, you have to put money from your bank and reach 50’000 CHF of self-investment to have the next advantage fee. This is not clearly mentioned and it freezes me when they informed me about that.

      1. Hi Yanikuza,

        Thanks for sharing! I did not know it was working that way. This is quite disappointing indeed. I was thinking it was taking the entire amount into account, as it should.
        I will update the article.

        Thanks for stopping by!

      2. @Yanikuza: I would be interested why you have chosen Selma and not True Wealth when you care a lot about fees? True Wealth seems to be quite a bit cheaper. I’m still in the process of deciding for one of the robo advisors, but at the moment I’m thinking about opening a True Wealth account.

    9. Hey Mr. TPS,
      Cool to see this article! We discussed about it last time we met, and it’s finally here, yay!

      Since you did not put an affiliate link for Yova, allow me to put mine here (if no, feel free to edit my comment!). If someone creates an account with the link, Yova will plant 2 trees, and each of us will have 6 months free of charge. This is the link:

      Thanks for the article! Cheers :)

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