Over the 36-year period, the compounded annual growth rate (CAGR) for the total return numbers is 8.3% in USD and 12.4% in ISK. For the price returns, it is 5.9% and 9.9%. So both exchange rate movements and total returns matter a lot, as can be seen more clearly in the two charts below.

The cumulative total return for the MSCI World Index over the 36-year period is 1.654% in US dollars and 6.712% in Icelandic kronas. In other words, a 100-unit invested at the end of 1987 was worth 1.754 dollars and 6.712 kronas at the end of last year (2023).

The cumulative price return for the MSCI World Index over the 36-year period is 677% in US dollars and 2.872% in Icelandic kronas. In other words, a 100-unit invested at the end of 1987 was worth 777 dollars and 2.972 kronas at the end of last year (2023).

Here using a more proper semi-log y-axis scale with base 10.