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

JPGL.L vs. SMT.L

Last updated Apr 3, 2026

Compare and contrast key facts about JPM Global Equity Multi-Factor UCITS ETF USD Acc (JPGL.L) and Scottish Mortgage Investment Trust plc (SMT.L).

JPGL.L and SMT.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JPGL.L is a passively managed fund by JPMorgan that tracks the performance of the MSCI ACWI NR USD. It was launched on Jul 9, 2019. SMT.L is an actively managed fund by Baillie Gifford Funds. It was launched on Mar 31, 2023.

Performance

JPGL.L vs. SMT.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPM Global Equity Multi-Factor UCITS ETF USD Acc (JPGL.L) and Scottish Mortgage Investment Trust plc (SMT.L). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)2025202420232022202120202019
JPGL.L
JPM Global Equity Multi-Factor UCITS ETF USD Acc		5.05%18.22%10.35%13.26%-10.20%23.30%6.18%5.88%
SMT.L
Scottish Mortgage Investment Trust plc		5.15%34.13%16.77%18.39%-51.51%9.46%116.94%10.42%
Different Trading Currencies

JPGL.L is traded in USD, while SMT.L is traded in GBp. To make them comparable, the SMT.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with JPGL.L having a 5.05% return and SMT.L slightly higher at 5.15%.

JPGL.L

1D
2.09%
1M
-1.21%
YTD
5.05%
6M
9.02%
1Y
19.42%
3Y*
14.57%
5Y*
9.65%
10Y*
—

SMT.L

1D
0.27%
1M
7.17%
YTD
5.15%
6M
8.66%
1Y
37.59%
3Y*
27.12%
5Y*
1.28%
10Y*
16.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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JPM Global Equity Multi-Factor UCITS ETF USD Acc

Scottish Mortgage Investment Trust plc

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Often compared with SMT.L:
SMT.L vs. SPXP.LSMT.L vs. QQQSMT.L vs. FCIT.LSMT.L vs. BRK-BSMT.L vs. HMWO.LSMT.L vs. AGT.LSMT.L vs. III.L

JPGL.L vs. SMT.L - Expense Ratio Comparison

JPGL.L has a 0.19% expense ratio, which is lower than SMT.L's 0.31% expense ratio.

SMT.L
Scottish Mortgage Investment Trust plc
JPGL.L
JPM Global Equity Multi-Factor UCITS ETF USD Acc

Return for Risk

JPGL.L vs. SMT.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JPGL.L
JPGL.L Risk / Return Rank: 7676
Overall Rank
JPGL.L Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
JPGL.L Sortino Ratio Rank: 7575
Sortino Ratio Rank
JPGL.L Omega Ratio Rank: 7878
Omega Ratio Rank
JPGL.L Calmar Ratio Rank: 7070
Calmar Ratio Rank
JPGL.L Martin Ratio Rank: 8181
Martin Ratio Rank
SMT.L
SMT.L Risk / Return Rank: 8282
Overall Rank
SMT.L Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
SMT.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
SMT.L Omega Ratio Rank: 7373
Omega Ratio Rank
SMT.L Calmar Ratio Rank: 8989
Calmar Ratio Rank
SMT.L Martin Ratio Rank: 8585
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.

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

This table presents a comparison of risk-adjusted performance metrics for JPM Global Equity Multi-Factor UCITS ETF USD Acc (JPGL.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.

JPGL.LSMT.LDifference

Sharpe ratio

Return per unit of total volatility

1.48

1.56

-0.08

Sortino ratio

Return per unit of downside risk

2.02

2.20

-0.19

Omega ratio

Gain probability vs. loss probability

1.31

1.29

+0.02

Calmar ratio

Return relative to maximum drawdown

2.14

3.34

-1.20

Martin ratio

Return relative to average drawdown

10.12

10.62

-0.50

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

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

The current JPGL.L Sharpe Ratio is 1.48, which is comparable to the SMT.L Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of JPGL.L and SMT.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

JPGL.LSMT.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.48

1.56

-0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.72

0.04

+0.68

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.56

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.42

+0.22

Correlation

The correlation between JPGL.L and SMT.L is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

JPGL.L vs. SMT.L - Dividend Comparison

JPGL.L has not paid dividends to shareholders, while SMT.L's dividend yield for the trailing twelve months is around 0.35%.

TTM20252024202320222021202020192018201720162015
JPGL.L
JPM Global Equity Multi-Factor UCITS ETF USD Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SMT.L
Scottish Mortgage Investment Trust plc		0.35%0.37%0.44%0.51%0.51%0.26%0.27%0.54%0.66%0.67%0.93%1.05%

Drawdowns

JPGL.L vs. SMT.L - Drawdown Comparison

The maximum JPGL.L drawdown since its inception was -35.87%, smaller than the maximum SMT.L drawdown of -71.48%. Use the drawdown chart below to compare losses from any high point for JPGL.L and SMT.L.

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Drawdown Indicators

JPGL.LSMT.LDifference

Max Drawdown

Largest peak-to-trough decline

-35.87%

-62.61%

+26.74%

Max Drawdown (1Y)

Largest decline over 1 year

-9.08%

-12.26%

+3.18%

Max Drawdown (5Y)

Largest decline over 5 years

-21.04%

-60.11%

+39.07%

Max Drawdown (10Y)

Largest decline over 10 years

—

-60.11%

—

Current Drawdown

Current decline from peak

-3.99%

-16.14%

+12.15%

Average Drawdown

Average peak-to-trough decline

-4.57%

-16.09%

+11.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.92%

3.63%

-1.71%

Volatility

JPGL.L vs. SMT.L - Volatility Comparison

The current volatility for JPM Global Equity Multi-Factor UCITS ETF USD Acc (JPGL.L) is 4.31%, while Scottish Mortgage Investment Trust plc (SMT.L) has a volatility of 9.61%. This indicates that JPGL.L experiences smaller price fluctuations and is considered to be less risky 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

JPGL.LSMT.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.31%

9.61%

-5.30%

Volatility (6M)

Calculated over the trailing 6-month period

7.17%

17.01%

-9.84%

Volatility (1Y)

Calculated over the trailing 1-year period

13.20%

23.96%

-10.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.47%

31.94%

-18.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.29%

30.25%

-13.96%