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VUAA 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
Vanguard logoVUAA
Fund B
Vanguard logoVGVF

VUAA tracks the S&P 500 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.

VUAA turned it into
€20,655
+15.61% per year on average · 2021–2025
VGVF turned it into
€18,610
+13.23% per year on average · 2021–2025
Difference
+€2,045
VUAA made more of the same money

VUAA 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
6
where both funds were trading
VUAA won
3
years
VGVF won
3
years
YearVUAAVGVFWinner
2026 (so far)+12.01%+13.72%VGVF
2025+4.28%+8.99%VGVF
2024+33.65%+24.73%VUAA
2023+22.10%+20.35%VUAA
2022-14.58%-13.58%VGVF
2021+42.09%+31.62%VUAA
2020—+2.32%—

VUAA vs VGVF in plain words

VUAA tracks the S&P 500 Index while VGVF follows the FTSE Developed World 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 VGVF 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 VGVF 3 times. €10,000 invested at the start of 2021 was worth €20,655 in VUAA versus €18,610 in VGVF 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.

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

Fund facts: VUAA vs VGVF

FactVUAAVGVF
FundVanguard S&P 500 UCITS ETF (Acc)Vanguard FTSE Developed World UCITS ETF (Acc)
TracksS&P 500 IndexFTSE Developed World Index
Yearly cost (TER)0.07%0.12%
DividendsAccumulating — dividends reinvestedAccumulating — dividends reinvested
Launched14 May 201924 Sept 2019
ISINIE00BFMXXD54IE00BK5BQV03
WKNA2PFN2A2PLS9
Also trades as—VHVE

Frequently asked

Is VUAA or VGVF better?

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

VUAA tracks the S&P 500 Index while VGVF follows the FTSE Developed World 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 VGVF 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.

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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