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Performance
Performance Chart
The chart shows the growth of an initial investment of £10,000 in Scottish Mortgage Investment Trust plc, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Different Benchmark Currency
SMT.L is traded in GBp, while the ^GSPC benchmark is in USD. To make them comparable, the benchmark values have been converted to GBp using the latest available exchange rates.
Returns By Period
Scottish Mortgage Investment Trust plc (SMT.L) has returned 0.42% so far this year and 26.79% over the past 12 months. Looking at the last ten years, SMT.L has achieved an annualized return of 16.93%, outperforming the S&P 500 Index benchmark, which averaged 12.98% per year.
Scottish Mortgage Investment Trust plc
- 1D
- 1.36%
- 1M
- -3.76%
- YTD
- 0.42%
- 6M
- 4.86%
- 1Y
- 26.79%
- 3Y*
- 21.23%
- 5Y*
- 0.91%
- 10Y*
- 16.93%
Benchmark (S&P 500 Index)
- 1D
- 2.61%
- 1M
- -3.22%
- YTD
- -2.82%
- 6M
- -0.72%
- 1Y
- 13.66%
- 3Y*
- 14.01%
- 5Y*
- 11.18%
- 10Y*
- 12.98%
Monthly Returns
Based on dividend-adjusted daily data since Jul 1, 1993, SMT.L's average daily return is +0.06%, while the average monthly return is +1.20%. At this rate, your investment would double in approximately 4.8 years.
Historically, 64% of months were positive and 36% were negative. The best month was Mar 2009 with a return of +21.0%, while the worst month was Oct 2008 at -28.1%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 5 months.
On a daily basis, SMT.L closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +16.2%, while the worst single day was Oct 8, 2008 at -11.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.86% | -1.43% | -3.76% | 0.42% | |||||||||
| 2025 | 13.66% | -4.01% | -9.46% | -4.62% | 9.42% | 5.31% | 6.19% | -0.00% | 3.60% | 2.99% | -8.95% | 11.36% | 24.72% |
| 2024 | -4.23% | 3.54% | 11.58% | -5.75% | 4.20% | 1.00% | -2.22% | -4.23% | 1.09% | 3.58% | 8.93% | 1.29% | 18.75% |
| 2023 | 3.65% | -4.78% | -4.88% | -7.34% | 5.88% | 0.47% | 10.41% | -6.82% | -2.33% | -4.09% | 13.08% | 11.51% | 12.46% |
| 2022 | -19.33% | -6.44% | 1.63% | -10.92% | -11.75% | -11.08% | 20.49% | -6.52% | -2.90% | -6.80% | 5.76% | -6.08% | -45.71% |
| 2021 | 3.46% | -9.63% | 0.18% | 10.73% | -5.08% | 11.56% | -1.09% | 3.99% | 4.31% | 5.15% | -0.67% | -10.23% | 10.46% |
Benchmark Metrics
Scottish Mortgage Investment Trust plc has an annualized alpha of 11.41%, beta of 0.59, and R² of 0.17 versus S&P 500 Index. Calculated based on daily prices since July 02, 1993.
- This ETF captured 133.67% of S&P 500 Index gains and 111.54% of its losses — amplifying both gains and losses, but participating more in upside than downside.
- Beta of 0.59 may look defensive, but with R² of 0.17 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R² of 0.17 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 11.41%
- Beta
- 0.59
- R²
- 0.17
- Upside Capture
- 133.67%
- Downside Capture
- 111.54%
Expense Ratio
SMT.L has an expense ratio of 0.31%, placing it in the medium range.
Return for Risk
Risk / Return Rank
SMT.L ranks 66 for risk / return — better than 66% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Scottish Mortgage Investment Trust plc (SMT.L) and compare them to a chosen benchmark (S&P 500 Index).
| SMT.L | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.23 | 0.73 | +0.50 |
Sortino ratioReturn per unit of downside risk | 1.77 | 1.14 | +0.63 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.18 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.24 | +0.68 |
Martin ratioReturn relative to average drawdown | 6.19 | 4.87 | +1.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore SMT.L risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Scottish Mortgage Investment Trust plc provided a 0.37% dividend yield over the last twelve months, with an annual payout of £0.04 per share. The fund has been increasing its distributions for 16 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | £0.04 | £0.04 | £0.04 | £0.04 | £0.04 | £0.03 | £0.03 | £0.03 | £0.03 | £0.03 | £0.03 | £0.03 |
Dividend yield | 0.37% | 0.37% | 0.44% | 0.51% | 0.51% | 0.26% | 0.27% | 0.54% | 0.66% | 0.67% | 0.93% | 1.05% |
Monthly Dividends
The table displays the monthly dividend distributions for Scottish Mortgage Investment Trust plc. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | £0.00 | £0.00 | £0.00 | £0.00 | |||||||||
| 2025 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.03 | £0.00 | £0.00 | £0.00 | £0.00 | £0.02 | £0.00 | £0.04 |
| 2024 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.03 | £0.00 | £0.00 | £0.00 | £0.00 | £0.02 | £0.00 | £0.04 |
| 2023 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.03 | £0.00 | £0.00 | £0.00 | £0.00 | £0.02 | £0.00 | £0.04 |
| 2022 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.02 | £0.00 | £0.00 | £0.00 | £0.00 | £0.02 | £0.00 | £0.04 |
| 2021 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.02 | £0.00 | £0.00 | £0.00 | £0.00 | £0.02 | £0.00 | £0.03 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Scottish Mortgage Investment Trust plc. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Scottish Mortgage Investment Trust plc was 62.61%, occurring on Nov 21, 2008. Recovery took 485 trading sessions.
The current Scottish Mortgage Investment Trust plc drawdown is 21.23%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -62.61% | May 20, 2008 | 132 | Nov 21, 2008 | 485 | Oct 25, 2010 | 617 |
| -60.11% | Nov 5, 2021 | 372 | May 2, 2023 | — | — | — |
| -55.72% | Mar 13, 2000 | 758 | Mar 12, 2003 | 681 | Nov 18, 2005 | 1439 |
| -33.5% | Jul 21, 1998 | 54 | Oct 5, 1998 | 128 | Apr 9, 1999 | 182 |
| -28.92% | Feb 20, 2020 | 20 | Mar 18, 2020 | 28 | Apr 29, 2020 | 48 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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