In my view, the ideas behind the two are very different. The MSCI or even a FTSE All World try to track the global economy or the biggest players in it, whereas the $GGRP, as the name suggests, focuses on developed countries and dividend growth. If you are looking for a dividend ETF, you can take a look at $TDIV or $VHYL. The latter also tries to be an All World in parts, even if it is not really that