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SPYY vs IS3S (IWVL): 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 logoIS3S

SPYY tracks the MSCI ACWI IndexIS3S tracks the MSCI World Enhanced Value 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
IS3S turned it into
€22,917
+8.65% per year on average · 2016–2025
Difference
+€5,281
SPYY made more of the same money

SPYY vs IS3S, 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
13
where both funds were trading
SPYY won
9
years
IS3S won
4
years
YearSPYYIS3SWinner
2026 (so far)+13.67%+35.21%IS3S
2025+9.46%+25.13%IS3S
2024+24.56%+11.36%SPYY
2023+18.22%+15.62%SPYY
2022-13.76%-4.81%IS3S
2021+29.02%+30.38%IS3S
2020+5.12%-12.53%SPYY
2019+30.21%+22.01%SPYY
2018-6.02%-10.34%SPYY
2017+8.80%+7.66%SPYY
2016+12.34%+11.24%SPYY
2015+8.88%+8.31%SPYY
2014+18.80%-16.73%SPYY
2013+17.52%——
2012+9.67%——

SPYY vs IS3S in plain words

SPYY tracks the MSCI ACWI Index while IS3S follows the MSCI World Enhanced Value 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 IS3S charges 0.25% — 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 13 calendar years both funds were trading, SPYY finished the year ahead 9 times and IS3S 4 times. €10,000 invested at the start of 2016 was worth €28,198 in SPYY versus €22,917 in IS3S by the end of 2025, dividends reinvested.

IWVL is the London (USD) listing of the same fund, ISIN IE00BP3QZB59 — IS3S is its EUR line on Xetra.

Fund facts: SPYY vs IS3S

FactSPYYIS3S
FundSPDR MSCI ACWI UCITS ETF (Acc)iShares Edge MSCI World Value Factor UCITS ETF
TracksMSCI ACWI IndexMSCI World Enhanced Value Index
Yearly cost (TER)0.12%0.25%
DividendsAccumulating — dividends reinvestedAccumulating — dividends reinvested
Launched13 May 20113 Oct 2014
ISINIE00B44Z5B48IE00BP3QZB59
WKNA1JJTCA12ATG
Also trades as—IWVL

Frequently asked

Is SPYY or IS3S better?

Across the 13 calendar years both funds were trading, SPYY finished the year ahead 9 times and IS3S 4 times. €10,000 invested at the start of 2016 was worth €28,198 in SPYY versus €22,917 in IS3S 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 IS3S?

SPYY tracks the MSCI ACWI Index while IS3S follows the MSCI World Enhanced Value 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 IS3S charges 0.25% — 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 IWVL the same as IS3S?

IWVL is the London (USD) listing of the same fund, ISIN IE00BP3QZB59 — IS3S is its EUR line on Xetra.

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