# S&P 500 performance discrepancy

**URL:** <https://community.investengine.com/t/s-p-500-performance-discrepancy/2819>\
**Category:** Help & FAQs\
**Created:** [1 January 2026 04:00 UTC](https://community.investengine.com/t/s-p-500-performance-discrepancy/2819 "2026-01-01T04:00:31Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![holistake](https://avatars.discourse-cdn.com/v4/letter/h/45deac/32.png) [@holistake](https://community.investengine.com/u/holistake)\
**Post date:** [1 January 2026 04:00 UTC](https://community.investengine.com/t/s-p-500-performance-discrepancy/2819/1 "2026-01-01T04:00:31Z")

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Checking [spglobal.com](http://spglobal.com), I see a +16.39% performance in the past year.

 ![image](https://europe1.discourse-cdn.com/flex017/uploads/investengine/original/2X/f/f84e39f9fc8477ac4e539d384232c5625e12cf0e.png)

While on IE, we only get 8.63%. This is vanguard, but all similar ETFs have a similar performance.

What’s the reason for this discrepancy?

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**Author:** ![shrimper](https://avatars.discourse-cdn.com/v4/letter/s/8dc957/32.png) [@shrimper](https://community.investengine.com/u/shrimper)\
**Post date:** [1 January 2026 07:48 UTC](https://community.investengine.com/t/s-p-500-performance-discrepancy/2819/2 "2026-01-01T07:48:39Z")

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Are you taking into account FX impact? To get the sp500 performance you need a GBP hedged etf. A GBP unhedged etf will include any movement in USD v GBP as well as the sp500 performance

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**Author:** ![Pounds](https://avatars.discourse-cdn.com/v4/letter/p/eada6e/32.png) [@Pounds](https://community.investengine.com/u/Pounds)\
**Post date:** [1 January 2026 12:19 UTC](https://community.investengine.com/t/s-p-500-performance-discrepancy/2819/3 "2026-01-01T12:19:18Z")

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Agree, the weaker dollar has limited the upside, so that ETF in GBP doesn’t have the same peaks as S&P in USD has. Indeed a hedged ETF like G500 is a good option if you are concerned. However it all depends on how long you are going to be in the fund for. Currency fluctuations can even out over very long time horizons, and there is the added benefit of the weaker dollar making it cheaper to buy. There is a cost for currency hedging so whilst appealing if looking over a short horizon like just a year or two, maybe less so if talking 20-30 years.

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**Author:** ![holistake](https://avatars.discourse-cdn.com/v4/letter/h/45deac/32.png) [@holistake](https://community.investengine.com/u/holistake)\
**Post date:** [1 January 2026 14:52 UTC](https://community.investengine.com/t/s-p-500-performance-discrepancy/2819/4 "2026-01-01T14:52:27Z")

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Got it, thanks guys. I had the understanding of hedged vs unhedged the wrong way around.