OriginaveVGWD vs IS3Q (IWQU): 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.
VGWD
SXR8iShares Core S&P 500 UCITS ETF USD (Acc)tracks the S&P 500 Index- VUAAVanguard S&P 500 UCITS ETF (Acc)tracks the S&P 500 Index
SPYLSPDR S&P 500 UCITS ETF (Acc)tracks the S&P 500 Index- SPYYSPDR MSCI ACWI UCITS ETF (Acc)tracks the MSCI ACWI Index
- SPYISPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Acc)tracks the MSCI ACWI IMI Index
- VWCEVanguard FTSE All-World UCITS ETF (Acc)tracks the FTSE All-World Index
WEBNAmundi Prime All Country World UCITS ETF (Acc)tracks the Solactive GBS Global Markets Large & Mid Cap Index- EUNLiShares Core MSCI World UCITS ETF (Acc)tracks the MSCI World Index
- IUSQiShares MSCI ACWI UCITS ETF USD (Acc)tracks the MSCI ACWI Index
- VGVFVanguard FTSE Developed World UCITS ETF (Acc)tracks the FTSE Developed World Index
- SXRViShares Nasdaq 100 UCITS ETF (Acc)tracks the Nasdaq-100 Index
- AvantisAVWCAvantis Global Equity UCITS ETF USD Acctracks the Avantis Global Equity strategy
- DimensionalDEGCDimensional Global Core Equity UCITS ETF USD (Acc)tracks the Dimensional Global Core Equity strategy
- VGWDVanguard FTSE All-World High Dividend Yield UCITS ETF (Dist)tracks the FTSE All-World High Dividend Yield Index
- IS3SiShares Edge MSCI World Value Factor UCITS ETFtracks the MSCI World Enhanced Value Index
- IS3RiShares Edge MSCI World Momentum Factor UCITS ETFtracks the MSCI World Momentum Index
- IS3QiShares Edge MSCI World Quality Factor UCITS ETFtracks the MSCI World Sector Neutral Quality Index
IS3Q
- SXR8iShares Core S&P 500 UCITS ETF USD (Acc)tracks the S&P 500 Index
- VUAAVanguard S&P 500 UCITS ETF (Acc)tracks the S&P 500 Index
- SPYLSPDR S&P 500 UCITS ETF (Acc)tracks the S&P 500 Index
- SPYYSPDR MSCI ACWI UCITS ETF (Acc)tracks the MSCI ACWI Index
- SPYISPDR MSCI All Country World Investable Market UCITS ETF USD Unhedged (Acc)tracks the MSCI ACWI IMI Index
- VWCEVanguard FTSE All-World UCITS ETF (Acc)tracks the FTSE All-World Index
- WEBNAmundi Prime All Country World UCITS ETF (Acc)tracks the Solactive GBS Global Markets Large & Mid Cap Index
- EUNLiShares Core MSCI World UCITS ETF (Acc)tracks the MSCI World Index
- IUSQiShares MSCI ACWI UCITS ETF USD (Acc)tracks the MSCI ACWI Index
- VGVFVanguard FTSE Developed World UCITS ETF (Acc)tracks the FTSE Developed World Index
- SXRViShares Nasdaq 100 UCITS ETF (Acc)tracks the Nasdaq-100 Index
- AvantisAVWCAvantis Global Equity UCITS ETF USD Acctracks the Avantis Global Equity strategy
- DimensionalDEGCDimensional Global Core Equity UCITS ETF USD (Acc)tracks the Dimensional Global Core Equity strategy
- VGWDVanguard FTSE All-World High Dividend Yield UCITS ETF (Dist)tracks the FTSE All-World High Dividend Yield Index
- IS3SiShares Edge MSCI World Value Factor UCITS ETFtracks the MSCI World Enhanced Value Index
- IS3RiShares Edge MSCI World Momentum Factor UCITS ETFtracks the MSCI World Momentum Index
- IS3QiShares Edge MSCI World Quality Factor UCITS ETFtracks the MSCI World Sector Neutral Quality Index
VGWD tracks the FTSE All-World High Dividend Yield IndexIS3Q tracks the MSCI World Sector Neutral Quality Index
What did the last 8 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 8 full years (2018–2025) — the longest stretch both were trading.
VGWD vs IS3Q, 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 | VGWD | IS3Q | Winner |
|---|---|---|---|
| 2026 (so far) | +17.20% | +15.60% | VGWD |
| 2025 | +13.16% | +2.80% | VGWD |
| 2024 | +15.75% | +23.78% | IS3Q |
| 2023 | +7.29% | +21.70% | IS3Q |
| 2022 | +0.08% | -14.84% | VGWD |
| 2021 | +27.90% | +34.28% | IS3Q |
| 2020 | -9.60% | +4.44% | IS3Q |
| 2019 | +25.03% | +33.90% | IS3Q |
| 2018 | -8.03% | -3.45% | IS3Q |
| 2017 | +0.41% | +8.34% | IS3Q |
| 2016 | — | +7.85% | — |
| 2015 | — | +14.52% | — |
| 2014 | — | -14.79% | — |
VGWD vs IS3Q in plain words
VGWD tracks the FTSE All-World High Dividend Yield Index while IS3Q follows the MSCI World Sector Neutral Quality Index, so they own different slices of the market and their years can look very different. VGWD charges 0.29% a year in running costs and IS3Q charges 0.25% — IS3Q is the cheaper fund to hold.
IS3Q reinvests its dividends automatically (accumulating), while VGWD pays them out as cash (distributing). Across the 10 calendar years both funds were trading, VGWD finished the year ahead 3 times and IS3Q 7 times. €10,000 invested at the start of 2018 was worth €18,700 in VGWD versus €23,913 in IS3Q by the end of 2025, dividends reinvested.
VHYL is the London (GBP) listing of the same fund, ISIN IE00B8GKDB10 — VGWD is its EUR line on Xetra.
IWQU is the London (USD) listing of the same fund, ISIN IE00BP3QZ601 — IS3Q is its EUR line on Xetra.
Fund facts: VGWD vs IS3Q
| Fact | VGWD | IS3Q |
|---|---|---|
| Fund | Vanguard FTSE All-World High Dividend Yield UCITS ETF (Dist) | iShares Edge MSCI World Quality Factor UCITS ETF |
| Tracks | FTSE All-World High Dividend Yield Index | MSCI World Sector Neutral Quality 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 | IE00BP3QZ601 |
| WKN | A1T8FV | A12ATE |
| Also trades as | — | IWQU |
| €10,000 invested | What €10,000 in VGWD became | What €10,000 in IS3Q became |
How bumpy the ride was: VGWD vs IS3Q
These head-to-head figures use only the 2,269 trading days both funds were listed: 26 Oct 2017 to 7 Oct 2026, roughly 9.0 years.
IS3Q swung more than VGWD: annualised volatility of 14.0% for VGWD against 15.3% for IS3Q, with VGWD moving 1% or more on 15.1% of trading days and IS3Q on 19.5%. Both had their worst day on 12 Mar 2020: VGWD closed -9.53% and IS3Q -8.05%.
VGWD had the deeper drawdown: it fell -34.57% from its peak on 17 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 18 Mar 2021, 11 months after the low; IS3Q fell -32.31% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 20 Jan 2021, 9 months after the low.
Day to day the two usually move together: the correlation of their daily returns is 0.89, and they closed in opposite directions on 16.0% of the 2,268 days measured. The widest single-day gap came on 15 Apr 2020, when VGWD moved -4.09% and IS3Q -1.56%.
| Measure | VGWD | IS3Q |
|---|---|---|
| Annualised volatility | 14.0% | 15.3% |
| Worst day | -9.53% on 12 Mar 2020 | -8.05% on 12 Mar 2020 |
| Best day | +8.04% on 24 Mar 2020 | +7.77% on 24 Mar 2020 |
| Days moving 1% or more | 15.1% of days | 19.5% of days |
| Deepest drawdown | -34.57% | -32.31% |
| Peak to trough | 17 Feb 2020 → 23 Mar 2020 | 19 Feb 2020 → 23 Mar 2020 |
| Back above the old peak | 18 Mar 2021 · 11 months | 20 Jan 2021 · 9 months |
Years VGWD and IS3Q parted ways
In 8 of the 9 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2022: VGWD returned +0.08% and IS3Q -14.84%, a gap of 14.9 points. They rose together in 6 years, fell together in 1 year and went opposite ways in 2 years.
| Year | VGWD | IS3Q | Gap (VGWD − IS3Q) |
|---|---|---|---|
| 2025 | +13.16% | +2.80% | +10.4 pts |
| 2024 | +15.75% | +23.78% | -8.0 pts |
| 2023 | +7.29% | +21.70% | -14.4 pts |
| 2022 | +0.08% | -14.84% | +14.9 pts |
| 2021 | +27.90% | +34.28% | -6.4 pts |
| 2020 | -9.60% | +4.44% | -14.0 pts |
| 2019 | +25.03% | +33.90% | -8.9 pts |
| 2017 | +0.41% | +8.34% | -7.9 pts |
How often VGWD beat IS3Q over any 12 months
Across the 96 rolling 12-month windows since October 2017, measured month-end to month-end, VGWD finished ahead in 39.6% of them (38) and IS3Q in 60.4% (58).
€200 a month into each, 2018–2025
Putting €200 into each fund at the start of every month from January 2018 to December 2025 (96 payments, €19,200 in total) would have grown to €29,445 in VGWD and €31,190 in IS3Q, leaving IS3Q €1,745 ahead.
| Outcome | VGWD | IS3Q |
|---|---|---|
| Paid in | €19,200 | €19,200 |
| Value at the end of 2025 | €29,445 | €31,190 |
| Gain on the money paid in | +€10,245 | +€11,990 |
| Gain in % | +53.36% | +62.45% |
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 VGWD or IS3Q better?
Across the 10 calendar years both funds were trading, VGWD finished the year ahead 3 times and IS3Q 7 times. €10,000 invested at the start of 2018 was worth €18,700 in VGWD versus €23,913 in IS3Q 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 VGWD and IS3Q?
VGWD tracks the FTSE All-World High Dividend Yield Index while IS3Q follows the MSCI World Sector Neutral Quality Index, so they own different slices of the market and their years can look very different. VGWD charges 0.29% a year in running costs and IS3Q charges 0.25% — IS3Q is the cheaper fund to hold. IS3Q reinvests its dividends automatically (accumulating), while VGWD pays them out as cash (distributing).
Which is more volatile, VGWD or IS3Q?
IS3Q swung more than VGWD: annualised volatility of 14.0% for VGWD against 15.3% for IS3Q, with VGWD moving 1% or more on 15.1% of trading days and IS3Q on 19.5%. Both had their worst day on 12 Mar 2020: VGWD closed -9.53% and IS3Q -8.05%.
Which had the deeper drawdown, VGWD or IS3Q?
VGWD had the deeper drawdown: it fell -34.57% from its peak on 17 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 18 Mar 2021, 11 months after the low; IS3Q fell -32.31% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 20 Jan 2021, 9 months after the low.
How often did VGWD beat IS3Q over a 12-month period?
Across the 96 rolling 12-month windows since October 2017, measured month-end to month-end, VGWD finished ahead in 39.6% of them (38) and IS3Q in 60.4% (58).
What would €10,000 in VGWD have become?
€10,000 invested in VGWD at the start of 2018 grew to €18,700 by the end of 2025, with dividends reinvested — an average of 8.1% per year.
Is IWQU the same as IS3Q?
IWQU is the London (USD) listing of the same fund, ISIN IE00BP3QZ601 — IS3Q is its EUR line on Xetra.
Related comparisons
More head-to-heads featuring VGWD or IS3Q.
Source: Yahoo Finance daily adjusted closes for the EUR trading lines on Xetra, dividends reinvested. Prices through · refreshed 7 Oct 2026, 08:49 UTC. How every number is calculated.