I currently have an aluminium frame bike, with Tiagra group set. Bike cost €1000 so wheels are basic.
I am looking to upgrade either the frame, to carbon and keep all the original components, or the wheels.
Which would be better to upgrade to? About a €500-600 carbon frame or wheels that cost around €400? I am looking to select the one which will give overall higher speeds.

Thanks for the help!

Edit: I am a member of a club, and I am able to keep up. I am going to race next year but can't afford a whole new bike, or full groupset. The only upgrade I could afford would be a low end carbon frame or mid level wheels.