I know it's a constant question, but it's still a difficult decision to make. I'm 28 years old and I'm starting my first investment of my life. I live in Hungary (Eastern EU) and I have €8,000 and I want a portfolio of 1 ETF. I have a relatively high volatility tolerance and would like to achieve higher returns in the short to medium term. As I have seen VUAA (S&P 500) yields 3-5% higher returns on an annual basis, what do you think? Should I choose the S&P 500 or the All-World VWCE ETF with less risk?