OriginaveACWI vs VUG: which ETF won each year?
Yearly returns side by side, one winner per year — dividends included, priced as you'd actually buy them.
ACWI
SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
VOOVanguard S&P 500 ETFtracks the S&P 500 Index- IVViShares Core S&P 500 ETFtracks the S&P 500 Index
- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
QQQInvesco QQQ Trusttracks the Nasdaq-100 Index- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
VUG
- SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
- VOOVanguard S&P 500 ETFtracks the S&P 500 Index
- IVViShares Core S&P 500 ETFtracks the S&P 500 Index
- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
- QQQInvesco QQQ Trusttracks the Nasdaq-100 Index
- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
- SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index
- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
ACWI tracks the MSCI ACWI IndexVUG tracks the CRSP US Large Cap Growth 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.
ACWI vs VUG, 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 | ACWI | VUG | Winner |
|---|---|---|---|
| 2026 (so far) | +12.94% | +11.18% | ACWI |
| 2025 | +22.41% | +19.40% | ACWI |
| 2024 | +17.45% | +32.69% | VUG |
| 2023 | +22.27% | +46.83% | VUG |
| 2022 | -18.39% | -33.16% | ACWI |
| 2021 | +18.66% | +27.35% | VUG |
| 2020 | +16.34% | +40.25% | VUG |
| 2019 | +26.59% | +37.03% | VUG |
| 2018 | -9.12% | -3.32% | VUG |
| 2017 | +24.33% | +27.72% | VUG |
| 2016 | +8.40% | +6.27% | ACWI |
| 2015 | -2.21% | +3.24% | VUG |
| 2014 | +3.83% | +13.61% | VUG |
| 2013 | +22.38% | +32.48% | VUG |
| 2012 | +16.75% | +17.01% | VUG |
| 2011 | -7.82% | +1.82% | VUG |
| 2010 | +12.78% | +17.22% | VUG |
| 2009 | +32.36% | +36.14% | VUG |
| 2008 | -35.29% | -38.02% | ACWI |
| 2007 | — | +12.52% | — |
| 2006 | — | +9.19% | — |
| 2005 | — | +5.02% | — |
| 2004 | — | +4.99% | — |
ACWI vs VUG in plain words
ACWI tracks the MSCI ACWI Index while VUG follows the CRSP US Large Cap Growth Index, so they own different slices of the market and their years can look very different. ACWI charges 0.32% a year in running costs and VUG charges 0.03% — VUG is the cheaper fund to hold.
Both funds distribute: dividends land in your account as cash instead of being reinvested automatically. Across the 19 calendar years both funds were trading, ACWI finished the year ahead 5 times and VUG 14 times. $10,000 invested at the start of 2016 was worth $30,708 in ACWI versus $49,942 in VUG by the end of 2025, dividends reinvested.
Fund facts: ACWI vs VUG
| Fact | ACWI | VUG |
|---|---|---|
| Fund | iShares MSCI ACWI ETF | Vanguard Growth ETF |
| Tracks | MSCI ACWI Index | CRSP US Large Cap Growth Index |
| Yearly cost (TER) | 0.32% | 0.03% |
| Dividends | Distributing — dividends paid out | Distributing — dividends paid out |
| Launched | 26 Mar 2008 | 26 Jan 2004 |
| $10,000 invested | What $10,000 in ACWI became | What $10,000 in VUG became |
How bumpy the ride was: ACWI vs VUG
These head-to-head figures use only the 4,661 trading days both funds were listed: 28 Mar 2008 to 6 Oct 2026, roughly 18.5 years.
VUG swung more than ACWI: annualised volatility of 20.1% for ACWI against 21.2% for VUG, with ACWI moving 1% or more on 27.4% of trading days and VUG on 31.5%. Both had their worst day on 16 Mar 2020: ACWI closed -11.22% and VUG -12.62%.
ACWI had the deeper drawdown: it fell -56.28% from its peak on 16 May 2008 to a low on 9 Mar 2009, then closed back above the old peak on 6 Mar 2013, 47 months after the low; VUG fell -48.98% from its peak on 5 Jun 2008 to a low on 9 Mar 2009, then closed back above the old peak on 5 Jan 2011, 21 months after the low.
Day to day the two usually move together: the correlation of their daily returns is 0.92, and they closed in opposite directions on 14.4% of the 4,660 days measured. The widest single-day gap came on 24 Feb 2022, when ACWI moved +0.42% and VUG +3.42%.
| Measure | ACWI | VUG |
|---|---|---|
| Annualised volatility | 20.1% | 21.2% |
| Worst day | -11.22% on 16 Mar 2020 | -12.62% on 16 Mar 2020 |
| Best day | +12.41% on 13 Oct 2008 | +11.94% on 13 Oct 2008 |
| Days moving 1% or more | 27.4% of days | 31.5% of days |
| Deepest drawdown | -56.28% | -48.98% |
| Peak to trough | 16 May 2008 → 9 Mar 2009 | 5 Jun 2008 → 9 Mar 2009 |
| Back above the old peak | 6 Mar 2013 · 47 months | 5 Jan 2011 · 21 months |
Years ACWI and VUG parted ways
In 11 of the 18 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2023: ACWI returned +22.27% and VUG +46.83%, a gap of 24.6 points. They rose together in 13 years, fell together in 3 years and went opposite ways in 2 years.
| Year | ACWI | VUG | Gap (ACWI − VUG) |
|---|---|---|---|
| 2024 | +17.45% | +32.69% | -15.2 pts |
| 2023 | +22.27% | +46.83% | -24.6 pts |
| 2022 | -18.39% | -33.16% | +14.8 pts |
| 2021 | +18.66% | +27.35% | -8.7 pts |
| 2020 | +16.34% | +40.25% | -23.9 pts |
| 2019 | +26.59% | +37.03% | -10.4 pts |
| 2018 | -9.12% | -3.32% | -5.8 pts |
| 2015 | -2.21% | +3.24% | -5.4 pts |
| 2014 | +3.83% | +13.61% | -9.8 pts |
| 2013 | +22.38% | +32.48% | -10.1 pts |
| 2011 | -7.82% | +1.82% | -9.6 pts |
How often ACWI beat VUG over any 12 months
Across the 211 rolling 12-month windows since March 2008, measured month-end to month-end, ACWI finished ahead in 17.1% of them (36) and VUG in 82.9% (175).
$200 a month into each, 2009–2025
Putting $200 into each fund at the start of every month from January 2009 to December 2025 (204 payments, $40,800 in total) would have grown to $114,514 in ACWI and $205,054 in VUG, leaving VUG $90,540 ahead.
| Outcome | ACWI | VUG |
|---|---|---|
| Paid in | $40,800 | $40,800 |
| Value at the end of 2025 | $114,514 | $205,054 |
| Gain on the money paid in | +$73,714 | +$164,254 |
| Gain in % | +180.67% | +402.58% |
Each payment rides the return of the month it lands in, dividends reinvested. Only calendar years with all twelve months of data for both funds count, so the plan may start later than the shared history.
Frequently asked
Is ACWI or VUG better?
Across the 19 calendar years both funds were trading, ACWI finished the year ahead 5 times and VUG 14 times. $10,000 invested at the start of 2016 was worth $30,708 in ACWI versus $49,942 in VUG 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 ACWI and VUG?
ACWI tracks the MSCI ACWI Index while VUG follows the CRSP US Large Cap Growth Index, so they own different slices of the market and their years can look very different. ACWI charges 0.32% a year in running costs and VUG charges 0.03% — VUG is the cheaper fund to hold. Both funds distribute: dividends land in your account as cash instead of being reinvested automatically.
Which is more volatile, ACWI or VUG?
VUG swung more than ACWI: annualised volatility of 20.1% for ACWI against 21.2% for VUG, with ACWI moving 1% or more on 27.4% of trading days and VUG on 31.5%. Both had their worst day on 16 Mar 2020: ACWI closed -11.22% and VUG -12.62%.
Which had the deeper drawdown, ACWI or VUG?
ACWI had the deeper drawdown: it fell -56.28% from its peak on 16 May 2008 to a low on 9 Mar 2009, then closed back above the old peak on 6 Mar 2013, 47 months after the low; VUG fell -48.98% from its peak on 5 Jun 2008 to a low on 9 Mar 2009, then closed back above the old peak on 5 Jan 2011, 21 months after the low.
How often did ACWI beat VUG over a 12-month period?
Across the 211 rolling 12-month windows since March 2008, measured month-end to month-end, ACWI finished ahead in 17.1% of them (36) and VUG in 82.9% (175).
What would $10,000 in ACWI have become?
$10,000 invested in ACWI at the start of 2016 grew to $30,708 by the end of 2025, with dividends reinvested — an average of 11.9% per year.
Related comparisons
More head-to-heads featuring ACWI or VUG.
Source: Yahoo Finance daily adjusted closes for the US primary listings, dividends reinvested. Prices through · refreshed 7 Oct 2026, 08:49 UTC. How every number is calculated.