OriginaveVGVF (VHVE) vs VGWD: 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.
VGVFtracks the FTSE Developed World Index
SXR8iShares Core S&P 500 UCITS ETF USD (Acc)tracks the S&P 500 Index- VUAAVanguard S&P 500 UCITS ETF (Acc)tracks the S&P 500 Index
SPYLSPDR S&P 500 UCITS ETF (Acc)tracks the S&P 500 Index- SPYYSPDR MSCI ACWI UCITS ETF (Acc)tracks the MSCI ACWI Index
- SPYISPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Acc)tracks the MSCI ACWI IMI Index
- VWCEVanguard FTSE All-World UCITS ETF (Acc)tracks the FTSE All-World Index
WEBNAmundi Prime All Country World UCITS ETF (Acc)tracks the Solactive GBS Global Markets Large & Mid Cap Index- EUNLiShares Core MSCI World UCITS ETF (Acc)tracks the MSCI World Index
- IUSQiShares MSCI ACWI UCITS ETF USD (Acc)tracks the MSCI ACWI Index
- VGVFVanguard FTSE Developed World UCITS ETF (Acc)tracks the FTSE Developed World Index
- SXRViShares Nasdaq 100 UCITS ETF (Acc)tracks the Nasdaq-100 Index
- VGWDVanguard FTSE All-World High Dividend Yield UCITS ETF (Dist)tracks the FTSE All-World High Dividend Yield Index
- IS3SiShares Edge MSCI World Value Factor UCITS ETFtracks the MSCI World Enhanced Value Index
- IS3RiShares Edge MSCI World Momentum Factor UCITS ETFtracks the MSCI World Momentum Index
- IS3QiShares Edge MSCI World Quality Factor UCITS ETFtracks the MSCI World Sector Neutral Quality Index
VGWDtracks the FTSE All-World High Dividend Yield Index
- SXR8iShares Core S&P 500 UCITS ETF USD (Acc)tracks the S&P 500 Index
- VUAAVanguard S&P 500 UCITS ETF (Acc)tracks the S&P 500 Index
- SPYLSPDR S&P 500 UCITS ETF (Acc)tracks the S&P 500 Index
- SPYYSPDR MSCI ACWI UCITS ETF (Acc)tracks the MSCI ACWI Index
- SPYISPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Acc)tracks the MSCI ACWI IMI Index
- VWCEVanguard FTSE All-World UCITS ETF (Acc)tracks the FTSE All-World Index
- WEBNAmundi Prime All Country World UCITS ETF (Acc)tracks the Solactive GBS Global Markets Large & Mid Cap Index
- EUNLiShares Core MSCI World UCITS ETF (Acc)tracks the MSCI World Index
- IUSQiShares MSCI ACWI UCITS ETF USD (Acc)tracks the MSCI ACWI Index
- VGVFVanguard FTSE Developed World UCITS ETF (Acc)tracks the FTSE Developed World Index
- SXRViShares Nasdaq 100 UCITS ETF (Acc)tracks the Nasdaq-100 Index
- VGWDVanguard FTSE All-World High Dividend Yield UCITS ETF (Dist)tracks the FTSE All-World High Dividend Yield Index
- IS3SiShares Edge MSCI World Value Factor UCITS ETFtracks the MSCI World Enhanced Value Index
- IS3RiShares Edge MSCI World Momentum Factor UCITS ETFtracks the MSCI World Momentum Index
- IS3QiShares Edge MSCI World Quality Factor UCITS ETFtracks the MSCI World Sector Neutral Quality Index
VGVF tracks the FTSE Developed World IndexVGWD tracks the FTSE All-World High Dividend Yield 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.
VGVF vs VGWD, 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.
| Year | VGVF | VGWD | Winner |
|---|---|---|---|
| 2026 (so far) | +13.72% | +14.44% | VGWD |
| 2025 | +8.99% | +13.16% | VGWD |
| 2024 | +24.73% | +15.75% | VGVF |
| 2023 | +20.35% | +7.29% | VGVF |
| 2022 | -13.58% | +0.08% | VGWD |
| 2021 | +31.62% | +27.90% | VGVF |
| 2020 | +2.32% | -9.60% | VGVF |
| 2019 | — | +25.03% | — |
| 2018 | — | -8.03% | — |
| 2017 | — | +0.41% | — |
VGVF vs VGWD in plain words
VGVF tracks the FTSE Developed World Index while VGWD follows the FTSE All-World High Dividend Yield Index, so they own different slices of the market and their years can look very different. VGVF charges 0.12% a year in running costs and VGWD charges 0.29% — VGVF is the cheaper fund to hold.
VGVF reinvests its dividends automatically (accumulating), while VGWD pays them out as cash (distributing). Across the 7 calendar years both funds were trading, VGVF finished the year ahead 4 times and VGWD 3 times. €10,000 invested at the start of 2021 was worth €18,610 in VGVF versus €17,989 in VGWD 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.
VHYL is the London (GBP) listing of the same fund, ISIN IE00B8GKDB10 — VGWD is its EUR line on Xetra.
Fund facts: VGVF vs VGWD
| Fact | VGVF | VGWD |
|---|---|---|
| Fund | Vanguard FTSE Developed World UCITS ETF (Acc) | Vanguard FTSE All-World High Dividend Yield UCITS ETF (Dist) |
| Tracks | FTSE Developed World Index | FTSE All-World High Dividend Yield Index |
| Yearly cost (TER) | 0.12% | 0.29% |
| Dividends | Accumulating — dividends reinvested | Distributing — dividends paid out |
| Launched | 24 Sept 2019 | 21 May 2013 |
| ISIN | IE00BK5BQV03 | IE00B8GKDB10 |
| WKN | A2PLS9 | A1T8FV |
| Also trades as | VHVE | — |
Frequently asked
Is VGVF or VGWD better?
Across the 7 calendar years both funds were trading, VGVF finished the year ahead 4 times and VGWD 3 times. €10,000 invested at the start of 2021 was worth €18,610 in VGVF versus €17,989 in VGWD 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 VGVF and VGWD?
VGVF tracks the FTSE Developed World Index while VGWD follows the FTSE All-World High Dividend Yield Index, so they own different slices of the market and their years can look very different. VGVF charges 0.12% a year in running costs and VGWD charges 0.29% — VGVF is the cheaper fund to hold. VGVF reinvests its dividends automatically (accumulating), while VGWD pays them out as cash (distributing).
What would €10,000 in VGVF have become?
€10,000 invested in VGVF at the start of 2021 grew to €18,610 by the end of 2025, with dividends reinvested — an average of 13.2% 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.
Related comparisons
More head-to-heads featuring VGVF or VGWD.