OriginaveVUAA 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.
VUAA
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
VUAA tracks the S&P 500 IndexIS3Q tracks the MSCI World Sector Neutral Quality 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 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 | VUAA | IS3Q | Winner |
|---|---|---|---|
| 2026 (so far) | +16.46% | +15.60% | VUAA |
| 2025 | +4.28% | +2.80% | VUAA |
| 2024 | +33.65% | +23.78% | VUAA |
| 2023 | +22.10% | +21.70% | VUAA |
| 2022 | -14.58% | -14.84% | VUAA |
| 2021 | +42.09% | +34.28% | VUAA |
| 2020 | — | +4.44% | — |
| 2019 | — | +33.90% | — |
| 2018 | — | -3.45% | — |
| 2017 | — | +8.34% | — |
| 2016 | — | +7.85% | — |
| 2015 | — | +14.52% | — |
| 2014 | — | -14.79% | — |
VUAA vs IS3Q in plain words
VUAA tracks the S&P 500 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. VUAA charges 0.07% a year in running costs and IS3Q charges 0.25% — 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 6 times and IS3Q 0 times. €10,000 invested at the start of 2021 was worth €20,655 in VUAA versus €17,711 in IS3Q 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.
IWQU is the London (USD) listing of the same fund, ISIN IE00BP3QZ601 — IS3Q is its EUR line on Xetra.
Fund facts: VUAA vs IS3Q
| Fact | VUAA | IS3Q |
|---|---|---|
| Fund | Vanguard S&P 500 UCITS ETF (Acc) | iShares Edge MSCI World Quality Factor UCITS ETF |
| Tracks | S&P 500 Index | MSCI World Sector Neutral Quality Index |
| Yearly cost (TER) | 0.07% | 0.25% |
| Dividends | Accumulating — dividends reinvested | Accumulating — dividends reinvested |
| Launched | 14 May 2019 | 3 Oct 2014 |
| ISIN | IE00BFMXXD54 | IE00BP3QZ601 |
| WKN | A2PFN2 | A12ATE |
| Also trades as | — | IWQU |
| €10,000 invested | What €10,000 in VUAA became | What €10,000 in IS3Q became |
How bumpy the ride was: VUAA vs IS3Q
These head-to-head figures use only the 1,463 trading days both funds were listed: 4 Jan 2021 to 7 Oct 2026, roughly 5.8 years.
VUAA swung more than IS3Q: annualised volatility of 14.9% for VUAA against 13.8% for IS3Q, with VUAA moving 1% or more on 21.2% of trading days and IS3Q on 17.9%. Both had their worst day on 3 Apr 2025: VUAA closed -5.45% and IS3Q -5.05%.
VUAA had the deeper drawdown: it fell -23.28% from its peak on 19 Feb 2025 to a low on 9 Apr 2025, then closed back above the old peak on 27 Oct 2025, 6 months after the low; IS3Q fell -20.63% from its peak on 19 Feb 2025 to a low on 9 Apr 2025, then closed back above the old peak on 6 Jan 2026, 8 months after the low.
Day to day the two usually move together: the correlation of their daily returns is 0.95, and they closed in opposite directions on 9.4% of the 1,462 days measured. The widest single-day gap came on 21 Sept 2022, when VUAA moved -3.37% and IS3Q +1.44%.
| Measure | VUAA | IS3Q |
|---|---|---|
| Annualised volatility | 14.9% | 13.8% |
| Worst day | -5.45% on 3 Apr 2025 | -5.05% on 3 Apr 2025 |
| Best day | +4.22% on 8 Mar 2021 | +3.56% on 10 Apr 2025 |
| Days moving 1% or more | 21.2% of days | 17.9% of days |
| Deepest drawdown | -23.28% | -20.63% |
| Peak to trough | 19 Feb 2025 → 9 Apr 2025 | 19 Feb 2025 → 9 Apr 2025 |
| Back above the old peak | 27 Oct 2025 · 6 months | 6 Jan 2026 · 8 months |
Years VUAA and IS3Q parted ways
In 2 of the 5 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2024: VUAA returned +33.65% and IS3Q +23.78%, a gap of 9.9 points. They rose together in 4 years and fell together in 1 year.
| Year | VUAA | IS3Q | Gap (VUAA − IS3Q) |
|---|---|---|---|
| 2024 | +33.65% | +23.78% | +9.9 pts |
| 2021 | +42.09% | +34.28% | +7.8 pts |
How often VUAA beat IS3Q over any 12 months
Across the 57 rolling 12-month windows since January 2021, measured month-end to month-end, VUAA finished ahead in 66.7% of them (38) and IS3Q in 33.3% (19).
€200 a month into each, 2022–2025
Putting €200 into each fund at the start of every month from January 2022 to December 2025 (48 payments, €9,600 in total) would have grown to €12,941 in VUAA and €12,123 in IS3Q, leaving VUAA €818 ahead.
| Outcome | VUAA | IS3Q |
|---|---|---|
| Paid in | €9,600 | €9,600 |
| Value at the end of 2025 | €12,941 | €12,123 |
| Gain on the money paid in | +€3,341 | +€2,523 |
| Gain in % | +34.80% | +26.28% |
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 VUAA or IS3Q better?
Across the 6 calendar years both funds were trading, VUAA finished the year ahead 6 times and IS3Q 0 times. €10,000 invested at the start of 2021 was worth €20,655 in VUAA versus €17,711 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 VUAA and IS3Q?
VUAA tracks the S&P 500 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. VUAA charges 0.07% a year in running costs and IS3Q charges 0.25% — 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.
Which is more volatile, VUAA or IS3Q?
VUAA swung more than IS3Q: annualised volatility of 14.9% for VUAA against 13.8% for IS3Q, with VUAA moving 1% or more on 21.2% of trading days and IS3Q on 17.9%. Both had their worst day on 3 Apr 2025: VUAA closed -5.45% and IS3Q -5.05%.
Which had the deeper drawdown, VUAA or IS3Q?
VUAA had the deeper drawdown: it fell -23.28% from its peak on 19 Feb 2025 to a low on 9 Apr 2025, then closed back above the old peak on 27 Oct 2025, 6 months after the low; IS3Q fell -20.63% from its peak on 19 Feb 2025 to a low on 9 Apr 2025, then closed back above the old peak on 6 Jan 2026, 8 months after the low.
How often did VUAA beat IS3Q over a 12-month period?
Across the 57 rolling 12-month windows since January 2021, measured month-end to month-end, VUAA finished ahead in 66.7% of them (38) and IS3Q in 33.3% (19).
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 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 VUAA 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.