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SPYY vs VGVF (VHVE): 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
Vanguard logoVGVF

SPYY tracks the MSCI ACWI IndexVGVF tracks the FTSE Developed World Index

What did the last 5 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. Both funds are measured over the same 5 full years (2021–2025) — the longest stretch both were trading.

SPYY turned it into
€17,936
+12.39% per year on average · 2021–2025
VGVF turned it into
€18,610
+13.23% per year on average · 2021–2025
Difference
−€674
VGVF made more of the same money

SPYY vs VGVF, 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
7
where both funds were trading
SPYY won
2
years
VGVF won
5
years
YearSPYYVGVFWinner
2026 (so far)+13.67%+13.72%VGVF
2025+9.46%+8.99%SPYY
2024+24.56%+24.73%VGVF
2023+18.22%+20.35%VGVF
2022-13.76%-13.58%VGVF
2021+29.02%+31.62%VGVF
2020+5.12%+2.32%SPYY
2019+30.21%——
2018-6.02%——
2017+8.80%——
2016+12.34%——
2015+8.88%——
2014+18.80%——
2013+17.52%——
2012+9.67%——

SPYY vs VGVF in plain words

SPYY tracks the MSCI ACWI Index while VGVF follows the FTSE Developed World Index, so they own different slices of the market and their years can look very different. Both funds charge 0.12% a year in running costs.

Both are accumulating funds: dividends are reinvested inside the fund and show up as a higher share price, never as a payout. Across the 7 calendar years both funds were trading, SPYY finished the year ahead 2 times and VGVF 5 times. €10,000 invested at the start of 2021 was worth €17,936 in SPYY versus €18,610 in VGVF by the end of 2025, dividends reinvested.

VHVE is the London (USD) listing of the same fund, ISIN IE00BK5BQV03 — VGVF is its EUR line on Xetra.

Fund facts: SPYY vs VGVF

FactSPYYVGVF
FundSPDR MSCI ACWI UCITS ETF (Acc)Vanguard FTSE Developed World UCITS ETF (Acc)
TracksMSCI ACWI IndexFTSE Developed World Index
Yearly cost (TER)0.12%0.12%
DividendsAccumulating — dividends reinvestedAccumulating — dividends reinvested
Launched13 May 201124 Sept 2019
ISINIE00B44Z5B48IE00BK5BQV03
WKNA1JJTCA2PLS9
Also trades as—VHVE

Frequently asked

Is SPYY or VGVF better?

Across the 7 calendar years both funds were trading, SPYY finished the year ahead 2 times and VGVF 5 times. €10,000 invested at the start of 2021 was worth €17,936 in SPYY versus €18,610 in VGVF 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 VGVF?

SPYY tracks the MSCI ACWI Index while VGVF follows the FTSE Developed World Index, so they own different slices of the market and their years can look very different. Both funds charge 0.12% a year in running costs. 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 2021 grew to €17,936 by the end of 2025, with dividends reinvested — an average of 12.4% per year.

Is VHVE the same as VGVF?

VHVE is the London (USD) listing of the same fund, ISIN IE00BK5BQV03 — VGVF is its EUR line on Xetra.

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