SMT.L vs. ICVT
Compare and contrast key facts about Scottish Mortgage Investment Trust plc (SMT.L) and iShares Convertible Bond ETF (ICVT).
SMT.L and ICVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMT.L is an actively managed fund by Baillie Gifford Funds. It was launched on Mar 31, 2023. ICVT is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Convertible Cash Pay Bond > $250MM Index. It was launched on Jun 2, 2015.
Performance
SMT.L vs. ICVT - Performance Comparison
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SMT.L vs. ICVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMT.L Scottish Mortgage Investment Trust plc | 0.42% | 24.72% | 18.75% | 12.46% | -45.71% | 10.46% | 110.49% | 24.76% | 4.64% | 41.09% |
ICVT iShares Convertible Bond ETF | 5.54% | 9.68% | 12.54% | 9.59% | -11.23% | 0.28% | 56.28% | 17.13% | 5.64% | 6.32% |
Different Trading Currencies
SMT.L is traded in GBp, while ICVT is traded in USD. To make them comparable, the ICVT 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 0.42% return, which is significantly lower than ICVT's 5.54% return. Over the past 10 years, SMT.L has outperformed ICVT with an annualized return of 16.93%, while ICVT has yielded a comparatively lower 13.07% annualized return.
SMT.L
- 1D
- 1.36%
- 1M
- -3.76%
- YTD
- 0.42%
- 6M
- 4.86%
- 1Y
- 26.79%
- 3Y*
- 21.23%
- 5Y*
- 0.91%
- 10Y*
- 16.93%
ICVT
- 1D
- 2.36%
- 1M
- -0.82%
- YTD
- 5.54%
- 6M
- 4.32%
- 1Y
- 21.05%
- 3Y*
- 11.57%
- 5Y*
- 4.48%
- 10Y*
- 13.07%
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SMT.L vs. ICVT - Expense Ratio Comparison
SMT.L has a 0.31% expense ratio, which is higher than ICVT's 0.20% expense ratio.
Return for Risk
SMT.L vs. ICVT — Risk / Return Rank
SMT.L
ICVT
SMT.L vs. ICVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Scottish Mortgage Investment Trust plc (SMT.L) and iShares Convertible Bond ETF (ICVT). 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 | ICVT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.23 | 1.47 | -0.24 |
Sortino ratioReturn per unit of downside risk | 1.77 | 2.01 | -0.24 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.26 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.91 | 2.66 | -0.75 |
Martin ratioReturn relative to average drawdown | 6.19 | 7.26 | -1.07 |
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 | ICVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 1.47 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.35 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.81 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.74 | -0.21 |
Correlation
The correlation between SMT.L and ICVT is 0.45, 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
SMT.L vs. ICVT - Dividend Comparison
SMT.L's dividend yield for the trailing twelve months is around 0.37%, less than ICVT's 1.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMT.L Scottish Mortgage Investment Trust plc | 0.37% | 0.37% | 0.44% | 0.51% | 0.51% | 0.26% | 0.27% | 0.54% | 0.66% | 0.67% | 0.93% | 1.05% |
ICVT iShares Convertible Bond ETF | 1.62% | 1.73% | 2.19% | 1.85% | 1.93% | 7.70% | 3.98% | 1.86% | 4.82% | 2.56% | 3.06% | 1.57% |
Drawdowns
SMT.L vs. ICVT - Drawdown Comparison
The maximum SMT.L drawdown since its inception was -62.61%, which is greater than ICVT's maximum drawdown of -25.13%. Use the drawdown chart below to compare losses from any high point for SMT.L and ICVT.
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Drawdown Indicators
| SMT.L | ICVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.61% | -33.25% | -29.36% |
Max Drawdown (1Y)Largest decline over 1 year | -14.26% | -7.55% | -6.71% |
Max Drawdown (5Y)Largest decline over 5 years | -60.11% | -29.95% | -30.16% |
Max Drawdown (10Y)Largest decline over 10 years | -60.11% | -33.25% | -26.86% |
Current DrawdownCurrent decline from peak | -21.23% | -3.67% | -17.56% |
Average DrawdownAverage peak-to-trough decline | -16.09% | -9.64% | -6.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.17% | 2.21% | +1.96% |
Volatility
SMT.L vs. ICVT - Volatility Comparison
Scottish Mortgage Investment Trust plc (SMT.L) has a higher volatility of 8.11% compared to iShares Convertible Bond ETF (ICVT) at 6.01%. This indicates that SMT.L's price experiences larger fluctuations and is considered to be riskier than ICVT 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 | ICVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.11% | 6.01% | +2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 15.06% | 11.25% | +3.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.75% | 14.42% | +7.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.89% | 13.02% | +16.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.63% | 16.13% | +12.50% |