OriginaveVHYL vs IWFM: 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 pounds — what you'd actually pocket buying on the London Stock Exchange. Fund fact sheets usually headline returns in US dollars, which can look very different in years when the pound moves against the dollar. Here's the full story, year by year.
VHYLtracks the FTSE All-World High Dividend Yield Index
CSP1iShares Core S&P 500 UCITS ETF USD (Acc)tracks the S&P 500 Index- SSACiShares MSCI ACWI UCITS ETF USD (Acc)tracks the MSCI ACWI Index
- VWRPVanguard FTSE All-World UCITS ETF (Acc)tracks the FTSE All-World Index
- VHVGVanguard FTSE Developed World UCITS ETF (Acc)tracks the FTSE Developed World Index
- SWDAiShares Core MSCI World UCITS ETF (Acc)tracks the MSCI World Index
- CNX1iShares Nasdaq 100 UCITS ETF (Acc)tracks the Nasdaq-100 Index
- VHYLVanguard FTSE All-World High Dividend Yield UCITS ETF (Dist)tracks the FTSE All-World High Dividend Yield Index
- IWFViShares Edge MSCI World Value Factor UCITS ETFtracks the MSCI World Enhanced Value Index
- IWFMiShares Edge MSCI World Momentum Factor UCITS ETF (Acc)tracks the MSCI World Momentum Index
- IWFQiShares Edge MSCI World Quality Factor UCITS ETF (Acc)tracks the MSCI World Sector Neutral Quality Index
IWFMtracks the MSCI World Momentum Index
- CSP1iShares Core S&P 500 UCITS ETF USD (Acc)tracks the S&P 500 Index
- SSACiShares MSCI ACWI UCITS ETF USD (Acc)tracks the MSCI ACWI Index
- VWRPVanguard FTSE All-World UCITS ETF (Acc)tracks the FTSE All-World Index
- VHVGVanguard FTSE Developed World UCITS ETF (Acc)tracks the FTSE Developed World Index
- SWDAiShares Core MSCI World UCITS ETF (Acc)tracks the MSCI World Index
- CNX1iShares Nasdaq 100 UCITS ETF (Acc)tracks the Nasdaq-100 Index
- VHYLVanguard FTSE All-World High Dividend Yield UCITS ETF (Dist)tracks the FTSE All-World High Dividend Yield Index
- IWFViShares Edge MSCI World Value Factor UCITS ETFtracks the MSCI World Enhanced Value Index
- IWFMiShares Edge MSCI World Momentum Factor UCITS ETF (Acc)tracks the MSCI World Momentum Index
- IWFQiShares Edge MSCI World Quality Factor UCITS ETF (Acc)tracks the MSCI World Sector Neutral Quality Index
VHYL tracks the FTSE All-World High Dividend Yield IndexIWFM tracks the MSCI World Momentum Index
What did the last 10 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.
VHYL vs IWFM, 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 | VHYL | IWFM | Winner |
|---|---|---|---|
| 2026 (so far) | +12.85% | +29.24% | IWFM |
| 2025 | +18.22% | +12.72% | VHYL |
| 2024 | +11.23% | +32.62% | IWFM |
| 2023 | +5.26% | +5.85% | IWFM |
| 2022 | +5.95% | -8.21% | VHYL |
| 2021 | +19.24% | +15.58% | VHYL |
| 2020 | -3.74% | +24.16% | IWFM |
| 2019 | +17.00% | +23.25% | IWFM |
| 2018 | -6.59% | +1.62% | IWFM |
| 2017 | +8.80% | +20.40% | IWFM |
| 2016 | +32.59% | +25.05% | VHYL |
| 2015 | -0.71% | +8.82% | IWFM |
| 2014 | +8.22% | -32.51% | VHYL |
| 2013 | -1.85% | — | — |
VHYL vs IWFM in plain words
VHYL tracks the FTSE All-World High Dividend Yield Index while IWFM follows the MSCI World Momentum Index, so they own different slices of the market and their years can look very different. VHYL charges 0.29% a year in running costs and IWFM charges 0.25% — IWFM is the cheaper fund to hold.
IWFM reinvests its dividends automatically (accumulating), while VHYL pays them out as cash (distributing). Across the 13 calendar years both funds were trading, VHYL finished the year ahead 5 times and IWFM 8 times. £10,000 invested at the start of 2016 was worth £26,537 in VHYL versus £39,306 in IWFM by the end of 2025, dividends reinvested.
VGWD is the Xetra (EUR) line of the same fund, ISIN IE00B8GKDB10 — VHYL is its GBP line on the London Stock Exchange.
IWMO is the London (USD) listing and IS3R the Xetra (EUR) line of the same fund, ISIN IE00BP3QZ825 — IWFM is its GBP line on the London Stock Exchange.
Fund facts: VHYL vs IWFM
| Fact | VHYL | IWFM |
|---|---|---|
| Fund | Vanguard FTSE All-World High Dividend Yield UCITS ETF (Dist) | iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) |
| Tracks | FTSE All-World High Dividend Yield Index | MSCI World Momentum Index |
| Yearly cost (TER) | 0.29% | 0.25% |
| Dividends | Distributing — dividends paid out | Accumulating — dividends reinvested |
| Launched | 21 May 2013 | 3 Oct 2014 |
| ISIN | IE00B8GKDB10 | IE00BP3QZ825 |
Frequently asked
Is VHYL or IWFM better?
Across the 13 calendar years both funds were trading, VHYL finished the year ahead 5 times and IWFM 8 times. £10,000 invested at the start of 2016 was worth £26,537 in VHYL versus £39,306 in IWFM 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 VHYL and IWFM?
VHYL tracks the FTSE All-World High Dividend Yield Index while IWFM follows the MSCI World Momentum Index, so they own different slices of the market and their years can look very different. VHYL charges 0.29% a year in running costs and IWFM charges 0.25% — IWFM is the cheaper fund to hold. IWFM reinvests its dividends automatically (accumulating), while VHYL pays them out as cash (distributing).
What would £10,000 in VHYL have become?
£10,000 invested in VHYL at the start of 2016 grew to £26,537 by the end of 2025, with dividends reinvested — an average of 10.3% per year.
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