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The UK FTSE all share total return index, which accounts for reinvested dividends, is at 8430 today and was at 2870 in May 2000. That's an annualized return of exactly 5%/year

Is that with dividends? Watch out because the German DAX actually does have reinvestment in it iirc. Most of the others don't.

An index never includes dividends. An index fond might (accumulating) or might not (distributing).

https://personal-financial.com/2020/11/27/the-dax-and-its-di...

Thanks. Learned something today.

SPY is differently weighted than for example FTSE. Most indexes do not factor in dividends, if you look at the total return data where dividends are reinvested you will see there are gains in Europe, but less than the US.

Thanks, I hadn’t realised the “obvious” indexes were measuring different things

Thanks for pointing out dividend adjustments work differently on some indexes

Adjusted for dividends since 2012

VUKE - Vanguard UK 100 up 100% VUSA - Vanguard S&P500 up 350%

I'd wager most of that difference is due to the USA's tech industry growth.