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VUAA vs SPYL: 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
Vanguard logoVUAA
Fund B
State Street logoSPYL

VUAA tracks the S&P 500 IndexSPYL tracks the S&P 500 Index

What did the last 2 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 2 full years (2024–2025) — the longest stretch both were trading.

VUAA turned it into
€13,937
+18.05% per year on average · 2024–2025
SPYL turned it into
€13,856
+17.71% per year on average · 2024–2025
Difference
+€81
VUAA made more of the same money

VUAA vs SPYL, 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
4
where both funds were trading
VUAA won
2
years
SPYL won
2
years
YearVUAASPYLWinner
2026 (so far)+12.01%+12.05%SPYL
2025+4.28%+4.71%SPYL
2024+33.65%+32.33%VUAA
2023+22.10%+8.23%VUAA
2022-14.58%——
2021+42.09%——

VUAA vs SPYL in plain words

VUAA and SPYL both track the S&P 500 Index, so their returns are nearly identical — the real differences are costs and fund structure. VUAA charges 0.07% a year in running costs and SPYL charges 0.03% — SPYL 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 4 calendar years both funds were trading, VUAA finished the year ahead 2 times and SPYL 2 times. €10,000 invested at the start of 2024 was worth €13,937 in VUAA versus €13,856 in SPYL by the end of 2025, dividends reinvested.

VUAA also trades in USD on the London Stock Exchange, where VUAG is its GBP line, ISIN IE00BFMXXD54 — VUSA is its distributing sibling. This page follows the EUR line.

SPYL also trades in USD on the London Stock Exchange, where SPXL is its GBP line, ISIN IE000XZSV718 — this page follows its EUR line on Xetra.

Fund facts: VUAA vs SPYL

FactVUAASPYL
FundVanguard S&P 500 UCITS ETF (Acc)SPDR S&P 500 UCITS ETF (Acc)
TracksS&P 500 IndexS&P 500 Index
Yearly cost (TER)0.07%0.03%
DividendsAccumulating — dividends reinvestedAccumulating — dividends reinvested
Launched14 May 201931 Oct 2023
ISINIE00BFMXXD54IE000XZSV718
WKNA2PFN2A3EUC1

Frequently asked

Is VUAA or SPYL better?

Across the 4 calendar years both funds were trading, VUAA finished the year ahead 2 times and SPYL 2 times. €10,000 invested at the start of 2024 was worth €13,937 in VUAA versus €13,856 in SPYL 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 VUAA and SPYL?

VUAA and SPYL both track the S&P 500 Index, so their returns are nearly identical — the real differences are costs and fund structure. VUAA charges 0.07% a year in running costs and SPYL charges 0.03% — SPYL 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 VUAA have become?

€10,000 invested in VUAA at the start of 2024 grew to €13,937 by the end of 2025, with dividends reinvested — an average of 18.1% per year.

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