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All-in-one

The whole world in a single ETF

SimpleLong termTOB 0.12%

A unique ETF that covers developed and emerging markets in their natural proportions. Ideal for those who want absolute simplicity: a single purchase, zero rebalancing.

Key facts

TOB0.12%on purchase and sale
Weighted average TER0.17%annual management fees
Securities (~)~9 000companies worldwide
Historical return~8.0% / yr2005–2025
Reynders taxNot applicable
DividendsAuto-reinvested

Slightly lower than Complete World because IMIE includes small caps (global large, mid AND small cap), which marginally underperformed over the 2005-2025 period. In return, IMIE offers more complete diversification (~99% of global market cap).

Portfolio composition

IMIE100%Acc.

State Street SPDR MSCI All Country World Investable Market UCITS ETF (Acc)

ISIN: IE00B3YLTY66

TER 0.17%View on justETF↗

Average yearly return

Index · EUR · gross · past performance
1 yr
+7.6%
3 yrs
+16.2%
5 yrs
+12.0%
10 yrs
+10.6%

Source: MSCI ACWI IMI Index (EUR, net dividends reinvested). Annualized returns to end-2025, EUR, gross of Belgian taxes (TOB, précompte mobilier, CGT) and ETF fees (TER). Past performance does not guarantee future results.

Why this strategy?

  • 10.12% TOB: unlike VWCE which is registered in Belgium and subject to 1.32% TOB, IMIE is not registered in Belgium — you only pay 0.12% on purchase and sale.
  • 2No annual withholding tax on dividends: IMIE is an accumulating fund — dividends are automatically reinvested, without triggering the 30% withholding tax.
  • 3No Reynders tax (purely equity ETF, 0% bonds): this tax applies only to funds holding more than 10% bonds — IMIE is exempt.
  • 4Maximum diversification: the MSCI ACWI IMI index covers ~9,000 companies according to the index (the ETF holds ~4,500 via representative sampling — the effective diversification is equivalent), covering developed, emerging, and small cap markets — about 99% of the investable global stock market.

Alternatives & comparisons

WEBN

Amundi Prime All Country World UCITS ETF Acc

TER 0.07%TOB 0.12%Acc.
IE0003XJA0J9↗

Advantages

  • +Extremely low TER (0.07%) — the cheapest on the market
  • +Full physical replication
  • +0.12% TOB

Disadvantages

  • −Launched in June 2024 — very short history
  • −Tracks the Solactive index (lesser known than MSCI)
  • −No small caps
  • −Amundi has a history of mergers and index rule changes
  • −Lower AUM (~€1.2bn vs €4.4bn for IMIE)
Verdict : Interesting for its cost, but lacks track record and excludes small caps.
IWDA + EMIM

iShares MSCI World + iShares Core MSCI EM IMI

TER 0.20%TOB 0.12%Acc.
IE00B4L5Y983↗IE00BKM4GZ66↗

Advantages

  • +IWDA is Europe's most liquid ETF
  • +Flexibility to adjust emerging exposure
  • +0.12% TOB on both

Disadvantages

  • −Requires manual rebalancing (split ~89/11)
  • −Two transactions = two sets of brokerage fees at each purchase
  • −No small caps
Verdict : Good alternative if your broker favours IWDA, but IMIE does all this automatically.
FWRA

Invesco FTSE All-World UCITS ETF Acc

TER 0.15%TOB 0.12%Acc.
IE000716YHJ7↗

Advantages

  • +0.15% TER — cheaper than IMIE
  • +Tracks the FTSE All-World index (recognised)
  • +0.12% TOB

Disadvantages

  • −Launched in 2023 — limited history
  • −No small caps (large & mid cap only)
  • −AUM still modest
Verdict : Good budget option if small caps don't matter to you.
VWCE

Vanguard FTSE All-World UCITS ETF Acc

TER 0.19%TOB 1.32%Acc.
IE00BK5BQT80↗

Advantages

  • +Very high liquidity (~€31bn AUM)
  • +Reputable Vanguard brand
  • +Long history

Disadvantages

  • −TOB potentially 1.32% depending on the broker — some apply 0.12%, others 1.32%. Check before investing
  • −No small caps
  • −Higher TER of 0.19%
Verdict : To be avoided for Belgian investors — the applicable TOB varies by broker — from 0.12% to 1.32%. In the worst case, you pay €132 in taxes on €10,000 compared to €12 with IMIE. Essential to check with your broker before any purchase.

Tax disclaimer

0.12% TOB on purchase and sale. 10% capital gains tax on annual net gains exceeding the €10,000 exemption — only the excess above this threshold is taxed at 10%. The unused portion of the exemption can be carried forward (maximum €1,000 per year over 5 years), allowing to reach an exemption ceiling of €15,000 in a given year. Accumulating funds: no annual withholding tax on automatically reinvested dividends. Rates used are indicative — past performance does not guarantee future results.
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