Fidelity MSCI Europe Index Fund P-ACC-EUR vs Vanguard FTSE 250

They track different indices: Fidelity MSCI Europe Index Fund P-ACC-EUR follows MSCI Europe and Vanguard FTSE 250 follows FTSE 250. They also differ in cost (0.10% vs 0.10% TER), replication (physical vs physical) and domicile (Irlanda vs Irlanda).

Nobody can know that: they track different indices, so their returns will diverge, and past index performance is not a prediction. What you can control today is the cost, the tax structure and whether the index actually covers what you want exposure to.

Their fees are effectively identical (0.10% vs 0.10%), so cost should not decide this one. Look at index coverage, distribution policy and availability at your broker instead.

Fidelity MSCI Europe Index Fund P-ACC-EUR is accumulating (dividends are reinvested inside the fund) and Vanguard FTSE 250 is distributing (dividends are paid out to you). For long-term compounding in Spain, accumulating usually defers taxation; distributing gives you income you are taxed on each year.

Yes. Unlike two funds tracking the identical index, these give you genuinely different exposure, so holding both is not automatically redundant — just be aware you may end up overlapping on the largest companies and doubling your rebalancing work.