OriginaveVWRP vs VHYL: 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.
VWRP
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
- 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
VWRP tracks the FTSE All-World IndexVHYL tracks the FTSE All-World High Dividend Yield Index
What did the last 6 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 6 full years (2020–2025) — the longest stretch both were trading.
VWRP vs VHYL, 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 | VWRP | VHYL | Winner |
|---|---|---|---|
| 2026 (so far) | +14.68% | +14.90% | VHYL |
| 2025 | +13.94% | +18.22% | VHYL |
| 2024 | +19.60% | +11.23% | VWRP |
| 2023 | +15.64% | +5.26% | VWRP |
| 2022 | -8.41% | +5.95% | VHYL |
| 2021 | +20.00% | +19.24% | VWRP |
| 2020 | +12.27% | -3.74% | VWRP |
| 2019 | +1.72% | +17.00% | VHYL |
| 2018 | — | -6.59% | — |
| 2017 | — | +8.80% | — |
| 2016 | — | +32.59% | — |
| 2015 | — | -0.71% | — |
| 2014 | — | +8.22% | — |
| 2013 | — | -1.85% | — |
VWRP vs VHYL in plain words
VWRP tracks the FTSE All-World Index while VHYL follows the FTSE All-World High Dividend Yield Index, so they own different slices of the market and their years can look very different. VWRP charges 0.19% a year in running costs and VHYL charges 0.29% — VWRP is the cheaper fund to hold.
VWRP reinvests its dividends automatically (accumulating), while VHYL pays them out as cash (distributing). Across the 8 calendar years both funds were trading, VWRP finished the year ahead 4 times and VHYL 4 times. £10,000 invested at the start of 2020 was worth £19,446 in VWRP versus £16,832 in VHYL by the end of 2025, dividends reinvested.
VWRA is the London (USD) listing and VWCE the Xetra (EUR) line of the same accumulating share class, ISIN IE00BK5BQT80 — VWRP is its GBP line on the London Stock Exchange; VWRL is its distributing sibling.
VGWD is the Xetra (EUR) line of the same fund, ISIN IE00B8GKDB10 — VHYL is its GBP line on the London Stock Exchange.
Fund facts: VWRP vs VHYL
| Fact | VWRP | VHYL |
|---|---|---|
| Fund | Vanguard FTSE All-World UCITS ETF (Acc) | Vanguard FTSE All-World High Dividend Yield UCITS ETF (Dist) |
| Tracks | FTSE All-World Index | FTSE All-World High Dividend Yield Index |
| Yearly cost (TER) | 0.19% | 0.29% |
| Dividends | Accumulating — dividends reinvested | Distributing — dividends paid out |
| Launched | 23 Jul 2019 | 21 May 2013 |
| ISIN | IE00BK5BQT80 | IE00B8GKDB10 |
| £10,000 invested | What £10,000 in VWRP became | What £10,000 in VHYL became |
How bumpy the ride was: VWRP vs VHYL
These head-to-head figures use only the 1,817 trading days both funds were listed: 25 Jul 2019 to 7 Oct 2026, roughly 7.2 years.
VWRP swung more than VHYL: annualised volatility of 14.8% for VWRP against 13.5% for VHYL, with VWRP moving 1% or more on 20.4% of trading days and VHYL on 14.8%. Both had their worst day on 12 Mar 2020: VWRP closed -7.75% and VHYL -8.76%.
VHYL had the deeper drawdown: it fell -27.86% from its peak on 20 Jan 2020 to a low on 23 Mar 2020, then closed back above the old peak on 15 Mar 2021, 11 months after the low; VWRP fell -25.10% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 10 Sept 2020, 5 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 18.1% of the 1,816 days measured. The widest single-day gap came on 10 Nov 2020, when VWRP moved -1.98% and VHYL +0.08%.
| Measure | VWRP | VHYL |
|---|---|---|
| Annualised volatility | 14.8% | 13.5% |
| Worst day | -7.75% on 12 Mar 2020 | -8.76% on 12 Mar 2020 |
| Best day | +6.27% on 24 Mar 2020 | +5.77% on 24 Mar 2020 |
| Days moving 1% or more | 20.4% of days | 14.8% of days |
| Deepest drawdown | -25.10% | -27.86% |
| Peak to trough | 19 Feb 2020 → 23 Mar 2020 | 20 Jan 2020 → 23 Mar 2020 |
| Back above the old peak | 10 Sept 2020 · 5 months | 15 Mar 2021 · 11 months |
Years VWRP and VHYL parted ways
In 5 of the 7 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2020: VWRP returned +12.27% and VHYL -3.74%, a gap of 16.0 points. They rose together in 5 years and went opposite ways in 2 years.
| Year | VWRP | VHYL | Gap (VWRP − VHYL) |
|---|---|---|---|
| 2024 | +19.60% | +11.23% | +8.4 pts |
| 2023 | +15.64% | +5.26% | +10.4 pts |
| 2022 | -8.41% | +5.95% | -14.4 pts |
| 2020 | +12.27% | -3.74% | +16.0 pts |
| 2019 | +1.72% | +17.00% | -15.3 pts |
How often VWRP beat VHYL over any 12 months
Across the 75 rolling 12-month windows since July 2019, measured month-end to month-end, VWRP finished ahead in 60.0% of them (45) and VHYL in 40.0% (30).
£200 a month into each, 2020–2025
Putting £200 into each fund at the start of every month from January 2020 to December 2025 (72 payments, £14,400 in total) would have grown to £21,501 in VWRP and £20,798 in VHYL, leaving VWRP £703 ahead.
| Outcome | VWRP | VHYL |
|---|---|---|
| Paid in | £14,400 | £14,400 |
| Value at the end of 2025 | £21,501 | £20,798 |
| Gain on the money paid in | +£7,101 | +£6,398 |
| Gain in % | +49.32% | +44.43% |
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 VWRP or VHYL better?
Across the 8 calendar years both funds were trading, VWRP finished the year ahead 4 times and VHYL 4 times. £10,000 invested at the start of 2020 was worth £19,446 in VWRP versus £16,832 in VHYL 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 VWRP and VHYL?
VWRP tracks the FTSE All-World Index while VHYL follows the FTSE All-World High Dividend Yield Index, so they own different slices of the market and their years can look very different. VWRP charges 0.19% a year in running costs and VHYL charges 0.29% — VWRP is the cheaper fund to hold. VWRP reinvests its dividends automatically (accumulating), while VHYL pays them out as cash (distributing).
Which is more volatile, VWRP or VHYL?
VWRP swung more than VHYL: annualised volatility of 14.8% for VWRP against 13.5% for VHYL, with VWRP moving 1% or more on 20.4% of trading days and VHYL on 14.8%. Both had their worst day on 12 Mar 2020: VWRP closed -7.75% and VHYL -8.76%.
Which had the deeper drawdown, VWRP or VHYL?
VHYL had the deeper drawdown: it fell -27.86% from its peak on 20 Jan 2020 to a low on 23 Mar 2020, then closed back above the old peak on 15 Mar 2021, 11 months after the low; VWRP fell -25.10% from its peak on 19 Feb 2020 to a low on 23 Mar 2020, then closed back above the old peak on 10 Sept 2020, 5 months after the low.
How often did VWRP beat VHYL over a 12-month period?
Across the 75 rolling 12-month windows since July 2019, measured month-end to month-end, VWRP finished ahead in 60.0% of them (45) and VHYL in 40.0% (30).
What would £10,000 in VWRP have become?
£10,000 invested in VWRP at the start of 2020 grew to £19,446 by the end of 2025, with dividends reinvested — an average of 11.7% per year.
Related comparisons
More head-to-heads featuring VWRP or VHYL.
Source: Yahoo Finance daily adjusted closes for the GBP trading lines on the London Stock Exchange, dividends reinvested. Prices through · refreshed 7 Oct 2026, 08:49 UTC. How every number is calculated.