Great, thank you. An even better alternative to FWRA, as it’s the same index family and lower TER. Will update later.
I quickly input a TER of 0.12% for FWRA just to simulate SPDR, and depending on the scenario, VT performed 2.5-3.5% better (on IBKR), because you have an additional drag of 0.18% (with 30% marginal tax rate, even more if yours is less) because of higher TER and lost WHT.
That could be a compelling reason for some.
Can you clarify which UCITS SPDR ETF you are talking about ?
SPYI -: tracking MSCI ACWI IMI
SPYY -: Tracking MSCI ACWI
SWRD -; Tracking MSCI World
One to one comparison of VT would be SPYI (TER 0.17%)
Total return is what counts. And VT will have the withholding tax advantage.
This will not change.
If there is a positive difference towards the spdr one, it will most likely be due to either randomness of sampling luck or due to the investable universe (large/mid cap only for example) and is ver unlikely going to persist over the long term.
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Oh, one thing I forgot – question for those who use Postfinance: is the currency conversion fee the same as with Swissquote (0.95%)? I can’t find that info on their website.
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Not that it changes anything materially, and you kind of started on it, but it could be important if you start comparing performance of different funds:
VTI is total US market. More small caps than included in all global indices. Also in VT, although this difference is really nonexistent.
VEVE is FTSE Developed World, which is different than MSCI world.
VEA is FTSE Developed World ex US.
IDEV is MSCI world ex US.
S&P 500 is less deep than the standard MSCI USA 
. There are US ETFs on vanilla MSCI USA.
At Postfinance E-Trading it‘s 1,45%
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I thought Swissquote’s 0.95% were daylight robbery, but this is just ridiculous.
That‘s just scam. And probably don‘t even use spot rate then.
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No, this is traditional Swiss banking 
.
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Does that somehow mean that as a passive investment strategy, investing in FTSE All-World would be a “good” option?
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Basically.
Cap weighted all market investing is the most agnostic type of investing. You let the market decide.
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I updated the tables above: I replaced XDWD with VEVE for SQ and PF, and updated the currency conversion fee for PF from 0.95% to 1.45%.
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Don’t forget the 0.50% fee for selling FWRA (Neon)
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Don’t sell on neon. Transfer to Swissquote during one of their many promotions where they reimburse the transfer costs and sell it there for their CHF 9 flat fee.
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I hadn’t thought of that.
Very intelligent, thanks for the tip.
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Thanks for this, it’s very interesting!
Question: are the final values on the tables in CHF or USD? In any case, these differences are in nominal value at the end of 25 years, right? Is it correct that in theory the difference should be lower when considering real values adjusted for inflation?
Everything is in CHF. Of course inflation and depreciation of the USD will reduce nominal gains. In the last 30 years, SPI, S&P 500 and MSCI ACWI IMI had real returns in CHF of about 7%, 8.5% and 6% p.a. respectively. I just assumed 7% p.a. for the above calculations.
The above info is a bit outdated, as meanwhile, I compared world ETFs with domicile in US and IE in this and this post.
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I did, I sent a message to Swissquote/Postfinance and was told this is a bug that shows up in the app but not on the website, I tried it on the website and no such disclaimer came up.
Edit: I was getting this warning trying to buy KMLM on the app, but put an order in just now and it went through.