SMT.L vs. BTC-USD
SMT.L (Scottish Mortgage Investment Trust plc) is Global Equities fund actively managed by Baillie Gifford Funds, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, SMT.L returned 19.40%/yr vs 60.93%/yr for BTC-USD. At a 0.11 correlation, their price movements are largely independent.
Performance
SMT.L vs. BTC-USD - Performance Comparison
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Different Trading Currencies
SMT.L is traded in GBp, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SMT.L achieves a 21.25% return, which is significantly higher than BTC-USD's -26.97% return. Over the past 10 years, SMT.L has underperformed BTC-USD with an annualized return of 19.40%, while BTC-USD has yielded a comparatively higher 60.93% annualized return.
SMT.L
- 1D
- -2.84%
- 1M
- 0.35%
- YTD
- 21.25%
- 6M
- 31.38%
- 1Y
- 44.42%
- 3Y*
- 28.42%
- 5Y*
- 3.88%
- 10Y*
- 19.40%
BTC-USD
- 1D
- 0.00%
- 1M
- -19.38%
- YTD
- -26.97%
- 6M
- -30.31%
- 1Y
- -39.31%
- 3Y*
- 31.07%
- 5Y*
- 12.34%
- 10Y*
- 60.93%
SMT.L vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMT.L Scottish Mortgage Investment Trust plc | 21.25% | 24.72% | 18.75% | 12.46% | -45.71% | 10.46% | 110.49% | 24.76% | 4.64% | 41.09% |
BTC-USD Bitcoin | -27.84% | -12.95% | 125.81% | 140.73% | -59.81% | 60.91% | 292.68% | 86.71% | -73.15% | 1,284.82% |
Correlation
The correlation between SMT.L and BTC-USD is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2012 | 0.11 |
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Return for Risk
SMT.L vs. BTC-USD — Risk / Return Rank
SMT.L
BTC-USD
SMT.L vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Scottish Mortgage Investment Trust plc (SMT.L) and Bitcoin (BTC-USD). 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.
| SMT.L | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.11 | ||
| Sortino ratioReturn per unit of downside risk | +4.44 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.86 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | -0.78 | +4.38 |
| Martin ratioReturn relative to average drawdown | 12.10 | -1.38 | +13.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMT.L | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | -0.94 | +3.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.23 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.90 | -0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 1.15 | -0.42 |
Drawdowns
SMT.L vs. BTC-USD - Drawdown Comparison
The maximum SMT.L drawdown since its inception was -60.25%, smaller than the maximum BTC-USD drawdown of -84.19%. Use the drawdown chart below to compare losses from any high point for SMT.L and BTC-USD.
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Drawdown Indicators
| SMT.L | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.25% | -84.19% | +23.94% |
Max Drawdown (1Y)Largest decline over 1 year | -12.26% | -50.55% | +38.29% |
Max Drawdown (3Y)Largest decline over 3 years | -28.05% | -50.55% | +22.50% |
Max Drawdown (5Y)Largest decline over 5 years | -60.11% | -73.24% | +13.13% |
Max Drawdown (10Y)Largest decline over 10 years | -60.11% | -82.15% | +22.04% |
Current DrawdownCurrent decline from peak | -6.93% | -48.74% | +41.81% |
Average DrawdownAverage peak-to-trough decline | -14.79% | -40.30% | +25.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 34.17% | -30.51% |
Volatility
SMT.L vs. BTC-USD - Volatility Comparison
The current volatility for Scottish Mortgage Investment Trust plc (SMT.L) is 5.67%, while Bitcoin (BTC-USD) has a volatility of 11.65%. This indicates that SMT.L experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMT.L | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.67% | 11.65% | -5.98% |
Volatility (6M)Calculated over the trailing 6-month period | 16.47% | 33.91% | -17.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.42% | 34.77% | -14.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.71% | 44.72% | -15.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.78% | 56.05% | -27.27% |
Frequently Asked Questions
SMT.L and BTC-USD have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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