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BRSC.L vs. SMT.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BRSC.L vs. SMT.L

Last updated Jun 5, 2026

BRSC.L (Blackrock Smaller Companies Trust plc) is a stock, while SMT.L (Scottish Mortgage Investment Trust plc) is Global Equities fund actively managed by Baillie Gifford Funds. Over the past 10 years, BRSC.L returned 6.54%/yr vs 19.70%/yr for SMT.L. At a 0.41 correlation, their price movements are largely independent.

Performance

BRSC.L vs. SMT.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Blackrock Smaller Companies Trust plc (BRSC.L) and Scottish Mortgage Investment Trust plc (SMT.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BRSC.L achieves a 2.72% return, which is significantly lower than SMT.L's 27.32% return. Over the past 10 years, BRSC.L has underperformed SMT.L with an annualized return of 6.54%, while SMT.L has yielded a comparatively higher 19.70% annualized return.

BRSC.L

1D
-0.15%
1M
3.13%
YTD
2.72%
6M
2.72%
1Y
4.78%
3Y*
3.06%
5Y*
-5.08%
10Y*
6.54%

SMT.L

1D
-1.53%
1M
5.30%
YTD
27.32%
6M
42.05%
1Y
51.19%
3Y*
30.43%
5Y*
4.67%
10Y*
19.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BRSC.L vs. SMT.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BRSC.L
Blackrock Smaller Companies Trust plc		2.72%-1.21%2.19%5.25%-34.32%23.97%4.04%45.82%-6.20%38.32%
SMT.L
Scottish Mortgage Investment Trust plc		27.32%24.72%18.75%12.46%-45.71%10.46%110.49%24.76%4.64%41.09%

Correlation

The correlation between BRSC.L and SMT.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.47

Correlation (3Y)
Calculated over the trailing 3-year period

0.48

Correlation (5Y)
Calculated over the trailing 5-year period

0.49

Correlation (10Y)
Calculated over the trailing 10-year period

0.42

Correlation (All Time)
Calculated using the full available price history since Jul 2, 1993

0.41

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Blackrock Smaller Companies Trust plc

Scottish Mortgage Investment Trust plc

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BRSC.L vs. FEV.LBRSC.L vs. NAIT.LBRSC.L vs. ATY.LBRSC.L vs. IUSA.LBRSC.L vs. BXBRSC.L vs. BRIG.LBRSC.L vs. HSL.L
Often compared with SMT.L:
SMT.L vs. SPXP.LSMT.L vs. QQQSMT.L vs. FCIT.LSMT.L vs. BRK-BSMT.L vs. AGT.LSMT.L vs. HMWO.LSMT.L vs. ACWI.L

Return for Risk

BRSC.L vs. SMT.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BRSC.L
BRSC.L Risk / Return Rank: 4747
Overall Rank
BRSC.L Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
BRSC.L Sortino Ratio Rank: 4444
Sortino Ratio Rank
BRSC.L Omega Ratio Rank: 4343
Omega Ratio Rank
BRSC.L Calmar Ratio Rank: 4848
Calmar Ratio Rank
BRSC.L Martin Ratio Rank: 5151
Martin Ratio Rank
SMT.L
SMT.L Risk / Return Rank: 7979
Overall Rank
SMT.L Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
SMT.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
SMT.L Omega Ratio Rank: 7878
Omega Ratio Rank
SMT.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SMT.L Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BRSC.L vs. SMT.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Smaller Companies Trust plc (BRSC.L) and Scottish Mortgage Investment Trust plc (SMT.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

BRSC.LSMT.LDifference
Sharpe ratioReturn per unit of total volatility
0.29
2.54

-2.25

Sortino ratioReturn per unit of downside risk
0.56
3.65

-3.09

Omega ratioGain probability vs. loss probability

1.07

1.45

-0.39

Calmar ratioReturn relative to maximum drawdown

0.27

4.16

-3.88

Martin ratioReturn relative to average drawdown

0.90

14.08

-13.18

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRSC.L vs. SMT.L - Sharpe Ratio Comparison

The current BRSC.L Sharpe Ratio is 0.29, which is lower than the SMT.L Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of BRSC.L and SMT.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

BRSC.LSMT.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.29

2.54

-2.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.26

0.16

-0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.26

0.68

-0.42

Sharpe Ratio (All Time)

Calculated using the full available price history

0.36

0.56

-0.20

Drawdowns

BRSC.L vs. SMT.L - Drawdown Comparison

The maximum BRSC.L drawdown since its inception was -65.33%, roughly equal to the maximum SMT.L drawdown of -62.61%. Use the drawdown chart below to compare losses from any high point for BRSC.L and SMT.L.

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Drawdown Indicators

BRSC.LSMT.LDifference

Max Drawdown

Largest peak-to-trough decline

-65.33%

-62.61%

-2.72%

Max Drawdown (1Y)

Largest decline over 1 year

-17.49%

-12.26%

-5.23%

Max Drawdown (3Y)

Largest decline over 3 years

-31.10%

-28.05%

-3.05%

Max Drawdown (5Y)

Largest decline over 5 years

-46.13%

-60.11%

+13.98%

Max Drawdown (10Y)

Largest decline over 10 years

-55.18%

-60.11%

+4.93%

Current Drawdown

Current decline from peak

-31.09%

-2.27%

-28.82%

Average Drawdown

Average peak-to-trough decline

-13.79%

-16.03%

+2.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.28%

3.62%

+1.66%

Volatility

BRSC.L vs. SMT.L - Volatility Comparison

Blackrock Smaller Companies Trust plc (BRSC.L) has a higher volatility of 4.78% compared to Scottish Mortgage Investment Trust plc (SMT.L) at 4.49%. This indicates that BRSC.L's price experiences larger fluctuations and is considered to be riskier than SMT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BRSC.LSMT.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.78%

4.49%

+0.29%

Volatility (6M)

Calculated over the trailing 6-month period

13.59%

16.02%

-2.43%

Volatility (1Y)

Calculated over the trailing 1-year period

16.41%

20.11%

-3.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.77%

29.68%

-9.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.81%

28.76%

-3.95%

Dividends

BRSC.L vs. SMT.L - Dividend Comparison

BRSC.L's dividend yield for the trailing twelve months is around 3.38%, more than SMT.L's 0.29% yield.

PositionTTM20252024202320222021202020192018201720162015
BRSC.L
Blackrock Smaller Companies Trust plc		3.38%3.40%3.10%2.93%2.69%1.58%1.87%1.87%2.33%1.76%1.93%1.61%
SMT.L
Scottish Mortgage Investment Trust plc		0.29%0.37%0.44%0.51%0.51%0.26%0.27%0.54%0.66%0.67%0.93%1.05%

Frequently Asked Questions

BRSC.L and SMT.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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