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SPYY vs EUNL (IWDA): which ETF won each year?

Yearly returns side by side, one winner per year — dividends included, priced as you'd actually buy them.

Every figure here is in euros — what you'd actually pocket buying on Xetra. Fund fact sheets usually headline returns in US dollars, which can look very different: in 2025 a world tracker rose about 23% in dollars but only about 9% in euros, because the euro gained roughly 13% against the dollar. Here's the full story, year by year.

Fund A
State Street logoSPYY
Fund B
iShares logoEUNL

SPYY tracks the MSCI ACWI IndexEUNL tracks the MSCI World Index

What did the last 10 years do to €10,000?

You invest €10,000 at the start of the window and touch nothing — dividends reinvested, the running year not counted.

SPYY turned it into
€28,198
+10.92% per year on average · 2016–2025
EUNL turned it into
€29,391
+11.38% per year on average · 2016–2025
Difference
−€1,193
EUNL made more of the same money

SPYY vs EUNL, year by year

Calendar-year total returns (dividends included) side by side, and who took the crown each year. A dash means the fund did not exist yet.

Years compared
15
where both funds were trading
SPYY won
4
years
EUNL won
11
years
YearSPYYEUNLWinner
2026 (so far)+13.67%+11.86%SPYY
2025+9.46%+7.90%SPYY
2024+24.56%+25.93%EUNL
2023+18.22%+20.13%EUNL
2022-13.76%-13.59%EUNL
2021+29.02%+32.71%EUNL
2020+5.12%+5.48%EUNL
2019+30.21%+31.34%EUNL
2018-6.02%-5.13%EUNL
2017+8.80%+7.71%SPYY
2016+12.34%+10.91%SPYY
2015+8.88%+10.81%EUNL
2014+18.80%+20.38%EUNL
2013+17.52%+21.89%EUNL
2012+9.67%+12.45%EUNL
2011—-3.26%—
2010—+19.38%—
2009—+4.65%—

SPYY vs EUNL in plain words

SPYY tracks the MSCI ACWI Index while EUNL follows the MSCI World Index, so they own different slices of the market and their years can look very different. SPYY charges 0.12% a year in running costs and EUNL charges 0.20% — SPYY is the cheaper fund to hold.

Both are accumulating funds: dividends are reinvested inside the fund and show up as a higher share price, never as a payout. Across the 15 calendar years both funds were trading, SPYY finished the year ahead 4 times and EUNL 11 times. €10,000 invested at the start of 2016 was worth €28,198 in SPYY versus €29,391 in EUNL by the end of 2025, dividends reinvested.

IWDA (London/Amsterdam, USD) and SWDA (London, GBP) are listings of the same fund, ISIN IE00B4L5Y983 — EUNL is its EUR line on Xetra.

Fund facts: SPYY vs EUNL

FactSPYYEUNL
FundSPDR MSCI ACWI UCITS ETF (Acc)iShares Core MSCI World UCITS ETF (Acc)
TracksMSCI ACWI IndexMSCI World Index
Yearly cost (TER)0.12%0.20%
DividendsAccumulating — dividends reinvestedAccumulating — dividends reinvested
Launched13 May 201125 Sept 2009
ISINIE00B44Z5B48IE00B4L5Y983
WKNA1JJTCA0RPWH
Also trades as—IWDA

Frequently asked

Is SPYY or EUNL better?

Across the 15 calendar years both funds were trading, SPYY finished the year ahead 4 times and EUNL 11 times. €10,000 invested at the start of 2016 was worth €28,198 in SPYY versus €29,391 in EUNL by the end of 2025, dividends reinvested. Past returns don't promise future ones — but this is what actually happened.

What is the difference between SPYY and EUNL?

SPYY tracks the MSCI ACWI Index while EUNL follows the MSCI World Index, so they own different slices of the market and their years can look very different. SPYY charges 0.12% a year in running costs and EUNL charges 0.20% — SPYY is the cheaper fund to hold. Both are accumulating funds: dividends are reinvested inside the fund and show up as a higher share price, never as a payout.

What would €10,000 in SPYY have become?

€10,000 invested in SPYY at the start of 2016 grew to €28,198 by the end of 2025, with dividends reinvested — an average of 10.9% per year.

Is IWDA the same as EUNL?

IWDA (London/Amsterdam, USD) and SWDA (London, GBP) are listings of the same fund, ISIN IE00B4L5Y983 — EUNL is its EUR line on Xetra.

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