OriginaveVOO vs ACWI: which ETF won each year?
Yearly returns side by side, one winner per year — dividends included, priced as you'd actually buy them.
VOO
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
- 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
VOO tracks the S&P 500 IndexACWI tracks the MSCI ACWI 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.
VOO vs ACWI, 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 | VOO | ACWI | Winner |
|---|---|---|---|
| 2026 (so far) | +12.73% | +12.94% | ACWI |
| 2025 | +17.82% | +22.41% | ACWI |
| 2024 | +24.98% | +17.45% | VOO |
| 2023 | +26.32% | +22.27% | VOO |
| 2022 | -18.17% | -18.39% | VOO |
| 2021 | +28.79% | +18.66% | VOO |
| 2020 | +18.32% | +16.34% | VOO |
| 2019 | +31.37% | +26.59% | VOO |
| 2018 | -4.50% | -9.12% | VOO |
| 2017 | +21.77% | +24.33% | ACWI |
| 2016 | +12.17% | +8.40% | VOO |
| 2015 | +1.33% | -2.21% | VOO |
| 2014 | +12.93% | +3.83% | VOO |
| 2013 | +32.39% | +22.38% | VOO |
| 2012 | +15.99% | +16.75% | ACWI |
| 2011 | +1.90% | -7.82% | VOO |
| 2010 | +14.78% | +12.78% | VOO |
| 2009 | — | +32.36% | — |
| 2008 | — | -35.29% | — |
VOO vs ACWI in plain words
VOO tracks the S&P 500 Index while ACWI follows the MSCI ACWI Index, so they own different slices of the market and their years can look very different. VOO charges 0.03% a year in running costs and ACWI charges 0.32% — VOO is the cheaper fund to hold.
Both funds distribute: dividends land in your account as cash instead of being reinvested automatically. Across the 17 calendar years both funds were trading, VOO finished the year ahead 13 times and ACWI 4 times. $10,000 invested at the start of 2016 was worth $39,747 in VOO versus $30,708 in ACWI by the end of 2025, dividends reinvested.
Fund facts: VOO vs ACWI
| Fact | VOO | ACWI |
|---|---|---|
| Fund | Vanguard S&P 500 ETF | iShares MSCI ACWI ETF |
| Tracks | S&P 500 Index | MSCI ACWI Index |
| Yearly cost (TER) | 0.03% | 0.32% |
| Dividends | Distributing — dividends paid out | Distributing — dividends paid out |
| Launched | 7 Sept 2010 | 26 Mar 2008 |
| $10,000 invested | What $10,000 in VOO became | What $10,000 in ACWI became |
How bumpy the ride was: VOO vs ACWI
These head-to-head figures use only the 4,043 trading days both funds were listed: 9 Sept 2010 to 6 Oct 2026, roughly 16.0 years.
VOO and ACWI swung about equally: annualised volatility of 17.0% for VOO against 16.9% for ACWI, with VOO moving 1% or more on 23.4% of trading days and ACWI on 24.2%. Both had their worst day on 16 Mar 2020: VOO closed -11.74% and ACWI -11.22%.
Both funds suffered a drawdown of about the same depth: VOO fell -33.99% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 10 Aug 2020, 4 months after the low; ACWI fell -33.53% from its peak on 12 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 24 Aug 2020, 5 months after the low.
Day to day the two move almost in lockstep: the correlation of their daily returns is 0.97, and they closed in opposite directions on 9.5% of the 4,042 days measured. The widest single-day gap came on 13 Mar 2020, when VOO moved +9.34% and ACWI +7.16%.
| Measure | VOO | ACWI |
|---|---|---|
| Annualised volatility | 17.0% | 16.9% |
| Worst day | -11.74% on 16 Mar 2020 | -11.22% on 16 Mar 2020 |
| Best day | +9.54% on 24 Mar 2020 | +8.79% on 9 Apr 2025 |
| Days moving 1% or more | 23.4% of days | 24.2% of days |
| Deepest drawdown | -33.99% | -33.53% |
| Peak to trough | 19 Feb 2020 → 23 Mar 2020 | 12 Feb 2020 → 23 Mar 2020 |
| Back above the old peak | 10 Aug 2020 · 4 months | 24 Aug 2020 · 5 months |
Years VOO and ACWI parted ways
In 5 of the 16 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2021: VOO returned +28.79% and ACWI +18.66%, a gap of 10.1 points. They rose together in 12 years, fell together in 2 years and went opposite ways in 2 years.
| Year | VOO | ACWI | Gap (VOO − ACWI) |
|---|---|---|---|
| 2024 | +24.98% | +17.45% | +7.5 pts |
| 2021 | +28.79% | +18.66% | +10.1 pts |
| 2014 | +12.93% | +3.83% | +9.1 pts |
| 2013 | +32.39% | +22.38% | +10.0 pts |
| 2011 | +1.90% | -7.82% | +9.7 pts |
How often VOO beat ACWI over any 12 months
Across the 181 rolling 12-month windows since September 2010, measured month-end to month-end, VOO finished ahead in 80.7% of them (146) and ACWI in 19.3% (35).
$200 a month into each, 2011–2025
Putting $200 into each fund at the start of every month from January 2011 to December 2025 (180 payments, $36,000 in total) would have grown to $118,662 in VOO and $89,217 in ACWI, leaving VOO $29,445 ahead.
| Outcome | VOO | ACWI |
|---|---|---|
| Paid in | $36,000 | $36,000 |
| Value at the end of 2025 | $118,662 | $89,217 |
| Gain on the money paid in | +$82,662 | +$53,217 |
| Gain in % | +229.62% | +147.83% |
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 VOO or ACWI better?
Across the 17 calendar years both funds were trading, VOO finished the year ahead 13 times and ACWI 4 times. $10,000 invested at the start of 2016 was worth $39,747 in VOO versus $30,708 in ACWI 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 VOO and ACWI?
VOO tracks the S&P 500 Index while ACWI follows the MSCI ACWI Index, so they own different slices of the market and their years can look very different. VOO charges 0.03% a year in running costs and ACWI charges 0.32% — VOO 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, VOO or ACWI?
VOO and ACWI swung about equally: annualised volatility of 17.0% for VOO against 16.9% for ACWI, with VOO moving 1% or more on 23.4% of trading days and ACWI on 24.2%. Both had their worst day on 16 Mar 2020: VOO closed -11.74% and ACWI -11.22%.
Which had the deeper drawdown, VOO or ACWI?
Both funds suffered a drawdown of about the same depth: VOO fell -33.99% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 10 Aug 2020, 4 months after the low; ACWI fell -33.53% from its peak on 12 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 24 Aug 2020, 5 months after the low.
How often did VOO beat ACWI over a 12-month period?
Across the 181 rolling 12-month windows since September 2010, measured month-end to month-end, VOO finished ahead in 80.7% of them (146) and ACWI in 19.3% (35).
What would $10,000 in VOO have become?
$10,000 invested in VOO at the start of 2016 grew to $39,747 by the end of 2025, with dividends reinvested — an average of 14.8% per year.
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.