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VUAA vs SPYY: 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 logoSPYY

VUAA tracks the S&P 500 IndexSPYY tracks the MSCI ACWI 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.

VUAA turned it into
€20,655
+15.61% per year on average · 2021–2025
SPYY turned it into
€17,936
+12.39% per year on average · 2021–2025
Difference
+€2,719
VUAA made more of the same money

VUAA vs SPYY, 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
6
where both funds were trading
VUAA won
3
years
SPYY won
3
years
YearVUAASPYYWinner
2026 (so far)+12.01%+13.67%SPYY
2025+4.28%+9.46%SPYY
2024+33.65%+24.56%VUAA
2023+22.10%+18.22%VUAA
2022-14.58%-13.76%SPYY
2021+42.09%+29.02%VUAA
2020—+5.12%—
2019—+30.21%—
2018—-6.02%—
2017—+8.80%—
2016—+12.34%—
2015—+8.88%—
2014—+18.80%—
2013—+17.52%—
2012—+9.67%—

VUAA vs SPYY in plain words

VUAA tracks the S&P 500 Index while SPYY follows the MSCI ACWI Index, so they own different slices of the market and their years can look very different. VUAA charges 0.07% a year in running costs and SPYY charges 0.12% — VUAA 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 6 calendar years both funds were trading, VUAA finished the year ahead 3 times and SPYY 3 times. €10,000 invested at the start of 2021 was worth €20,655 in VUAA versus €17,936 in SPYY 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.

Fund facts: VUAA vs SPYY

FactVUAASPYY
FundVanguard S&P 500 UCITS ETF (Acc)SPDR MSCI ACWI UCITS ETF (Acc)
TracksS&P 500 IndexMSCI ACWI Index
Yearly cost (TER)0.07%0.12%
DividendsAccumulating — dividends reinvestedAccumulating — dividends reinvested
Launched14 May 201913 May 2011
ISINIE00BFMXXD54IE00B44Z5B48
WKNA2PFN2A1JJTC

Frequently asked

Is VUAA or SPYY better?

Across the 6 calendar years both funds were trading, VUAA finished the year ahead 3 times and SPYY 3 times. €10,000 invested at the start of 2021 was worth €20,655 in VUAA versus €17,936 in SPYY 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 SPYY?

VUAA tracks the S&P 500 Index while SPYY follows the MSCI ACWI Index, so they own different slices of the market and their years can look very different. VUAA charges 0.07% a year in running costs and SPYY charges 0.12% — VUAA 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 2021 grew to €20,655 by the end of 2025, with dividends reinvested — an average of 15.6% per year.

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