Side by side
| S&P 500 | MSCI World | |
|---|---|---|
| Companies | 503 | 1,280 |
| Countries | 1 | 23 |
| US share | 100% | 72% |
| Ten largest companies | 37.6% of the index | 26.6% of the index |
| Return per year, last 10 years | 13.17% | 13.56% |
The S&P 500 figures are from 31 July 2026 and the MSCI World figures from 31 August 2026, both in US dollars with dividends reinvested, so the returns are not for exactly the same period.[1][2] The S&P 500 covers approximately 80% of the available US market value.[1]
What the difference is
- One country or twenty-three. With the S&P 500 all your money depends on one economy, one currency and one stock market.
- Concentration. The ten largest companies are a larger share of the S&P 500 than of the global index.
- Currency. For a saver outside the United States, an S&P 500 fund is entirely exposed to the US dollar.
What about past returns?
Over the last 20 years the US market has returned more than the global market. In our index comparison the 20-year averages are about 11% and 9% a year. That is the past. Markets that lead in one period have often lagged in the next, and nobody knows which will lead over the coming 20 years.
Common questions
Can I own both?
You can, but a global fund already holds the large US companies. Adding an S&P 500 fund on top raises your US share above 72%. Do it only if that is what you want.
Is the S&P 500 riskier?
It is less diversified: one country and a higher share in the ten largest companies. Whether that turns out worse or better depends on how the United States does compared with the rest of the world.
Sources & further reading
We cite independent authorities so you can verify everything yourself. Last reviewed 15 Sept 2026.