S&P 500 USD or EUR hedged as European?

Two main differences between these (not just one)

First is obviously the difference between hedging currency or not. The unhedged one will give you the performance of the S&P 500 x the eur/usd exchangerate. This can create drastic deviations in performance both positively and negatively. And one could argue this adds an additional layer of risk. On the opposing side, hedging currency is costly (the expense ratio of the hedged one is 0.2% per annuum while the unhedged one is just 0.07%) while the long term trend between eur and usd is relatively rangebound. Also currency hedging costs increase based on the spread between government bonds in both currencies so hedging costs could go up in the future as the FED is raising interest rates much faster and harder than the ECB. To be honest, I have no idea how ETFs manage this and if their expense ratio can go up, I suggest you look it up if you go with a hedged one. I alsoI suggest you read up on currency risk but my advice would be to not worry much about it if you're investing for the long term.

Secondly, and more importantly, you are giving both and accumulation (acc) and distributing (dis) etf which will impact your returns far more depending on your home country's dividend tax policy. ETFs function by holding the underlying shares in your stead while you hold the ETF and these shares may issue dividends from time to time. Dividends which are normally taxed twice. Once in the issuing companies home country (source tax) and once in the receiving person/entity's home country. ETF issuers are usually based in a country without dividend taxes (e.g. ireland) and thus receive these dividends after only being taxed from the source. However, if they were to pay these out to you, you'd still have to pay the second dividend tax. This is what a Distributing ETF does. They just bundle these dividends and pay them out to you from time to time, upon which you pay taxes like you would by holding the shares directly. Thus you get the double tax, even if you were to use the payout to reinvest. Accumulating ETFs however, do not pay out the dividends but use them to buy more of the underlying shares, aka they reinvest the dividends directly for you. The shares of the ETF you hold thus slowly represent a higher fraction of the companies within its index. This allows you to avoid paying the second dividend tax.

For these reasons I highly suggest looking at an unhedged accumulating ETF as well $S&P 500 Index (.SPX.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Invesco QQQ Trust (QQQ.US)$ $Euro (EURindex.FX)$ $USD (USDindex.FX)$