Here is a graph of the SNP500 that you can plot against the Euro or USD.

https://www.justetf.com/en/etf-profile.html?isin=IE00B3ZW0K18#overview

In the last year the SNP500 grew 28% in terms of USD but only 14% in terms of the Euro.

We can look at the STOXX 600 (think Europe's SNP500).

https://www.justetf.com/en/etf-profile.html?isin=LU0908500753#overview

In the last year the STOXX600 grew 35% in terms of USD but only 20% in terms of the Euro.

So in both cases the difference between the Euro and USD accounted for 14%. That's nothing to sneeze at.