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SPYY vs VWCE (VWRA): 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 logoVWCE

SPYY tracks the MSCI ACWI IndexVWCE tracks the FTSE All-World Index

What did the last 6 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 6 full years (2020–2025) — the longest stretch both were trading.

SPYY turned it into
€18,854
+11.15% per year on average · 2020–2025
VWCE turned it into
€18,817
+11.11% per year on average · 2020–2025
Difference
+€36
SPYY made more of the same money

SPYY vs VWCE, 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
8
where both funds were trading
SPYY won
6
years
VWCE won
2
years
YearSPYYVWCEWinner
2026 (so far)+13.67%+13.62%SPYY
2025+9.46%+9.16%SPYY
2024+24.56%+24.41%SPYY
2023+18.22%+18.18%SPYY
2022-13.76%-13.47%VWCE
2021+29.02%+28.62%SPYY
2020+5.12%+5.36%VWCE
2019+30.21%+7.56%SPYY
2018-6.02%——
2017+8.80%——
2016+12.34%——
2015+8.88%——
2014+18.80%——
2013+17.52%——
2012+9.67%——

SPYY vs VWCE in plain words

SPYY tracks the MSCI ACWI Index while VWCE follows the FTSE All-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 VWCE charges 0.19% — 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 8 calendar years both funds were trading, SPYY finished the year ahead 6 times and VWCE 2 times. €10,000 invested at the start of 2020 was worth €18,854 in SPYY versus €18,817 in VWCE by the end of 2025, dividends reinvested.

VWRA (London, USD) and VWRP (London, GBP) are listings of the same accumulating share class, ISIN IE00BK5BQT80 — VWRL is its distributing sibling.

Fund facts: SPYY vs VWCE

FactSPYYVWCE
FundSPDR MSCI ACWI UCITS ETF (Acc)Vanguard FTSE All-World UCITS ETF (Acc)
TracksMSCI ACWI IndexFTSE All-World Index
Yearly cost (TER)0.12%0.19%
DividendsAccumulating — dividends reinvestedAccumulating — dividends reinvested
Launched13 May 201123 Jul 2019
ISINIE00B44Z5B48IE00BK5BQT80
WKNA1JJTCA2PKXG
Also trades as—VWRA

Frequently asked

Is SPYY or VWCE better?

Across the 8 calendar years both funds were trading, SPYY finished the year ahead 6 times and VWCE 2 times. €10,000 invested at the start of 2020 was worth €18,854 in SPYY versus €18,817 in VWCE 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 VWCE?

SPYY tracks the MSCI ACWI Index while VWCE follows the FTSE All-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 VWCE charges 0.19% — 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 2020 grew to €18,854 by the end of 2025, with dividends reinvested — an average of 11.1% per year.

Is VWRA the same as VWCE?

VWRA (London, USD) and VWRP (London, GBP) are listings of the same accumulating share class, ISIN IE00BK5BQT80 — VWRL is its distributing sibling.

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