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Over the past week, we’ve examined some ASX 200 blue-chip stocks that have achieved double-digit returns for their shareholders in recent years. We’ve also checked out some exchange-traded funds (ETFs) that have proven to be high flyers for investors. Today, let’s keep the run going with an examination of ASX index funds that have delivered at least a 15% average return per annum over the past three years.
To be fair, it’s been an exceptional few years to have been invested in most stock markets, or more accurately, in the funds that track them, around the world. To illustrate, the S&P/ASX 200 Index (ASX: XJO) has delivered a stellar return of 12.97% per annum (that’s share price growth plus dividends) over the three years to 31 August 2025. That’s well above the long-term average of about 8.7% per annum.
However, a few ASX index funds have done even better than that. Let’s check them out.
3 ASX index funds that have hit 15% per annum or more over the past three years iShares S&P 500 ETF (ASX: IVV)
It’s well known that the US markets have been a particularly lucrative hunting ground for returns in recent years, thanks to the stunning, AI-driven successes of its largest constituents. The likes of Nvidia, Alphabet, Microsoft and, Tesla have been minting new records at a seemingly unstoppable pace in recent years, particularly so in 2025.
This has helped drive the returns of the broader US markets. Reflecting this, the iShares S&P 500 ETF, an ASX index fund that tracks the flagship American S&P 500 Index (SP: .INX), has delivered an extraordinary return of 21.1% per annum over the three years to 31 August 2025.
iShares MSCI Japan ETF (ASX: IJP)
To another market and another ASX index fund now, it’s time to check out the iShares MSCI Japan ETF. This fund tracks the MSCI Japan Index, which covers about 85% of the stocks listed on the Tokyo Stock Exchange. Readers will be familiar with many of IJP’s top holdings, which include the likes of Toyota, Sony, Softbank, Nintendo, and Mitsubishi Heavy Industries.
This index has been on fire in recent years. Finally shaking off the infamous ‘lost decade’ in the 2020s, the iShares Japan ETF has returned an average of 17% per annum over the three years to 31 August.
BetaShares FTSE 100 ETF (ASX: F100).
Our final ASX index fund worth considering today is this Betashares fund. The Betashares FTSE 100 ETF tracks the FTSE 100 Index, which measures the performance of the largest 100 stocks listed on the London Stock Exchange. Again, many of F100’s top holdings are household names in Australia, including HSBC Holdings, AstraZeneca, Shell, Unilever, and British American Tobacco.
This ASX index fund is our highest flyer on this list. It has delivered a euphoric return of 19.05% per annum over the three years to 31 August 2025.