SMT.L vs. LGGG.L
SMT.L (Scottish Mortgage Investment Trust plc) and LGGG.L (L&G Global Equity UCITS ETF) are both Global Equities funds. SMT.L is actively managed, while LGGG.L is passively managed. Over the past 5 years, SMT.L returned 2.00%/yr vs 12.50%/yr for LGGG.L. A 0.70 correlation means they provide meaningful diversification when combined. SMT.L charges 0.31%/yr vs 0.10%/yr for LGGG.L.
Performance
SMT.L vs. LGGG.L - Performance Comparison
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Returns By Period
In the year-to-date period, SMT.L achieves a 18.50% return, which is significantly higher than LGGG.L's 9.76% return.
SMT.L
- 1D
- -0.25%
- 1M
- -7.54%
- YTD
- 18.50%
- 6M
- 18.55%
- 1Y
- 37.66%
- 3Y*
- 30.63%
- 5Y*
- 2.00%
- 10Y*
- 19.16%
LGGG.L
- 1D
- -0.56%
- 1M
- 0.40%
- YTD
- 9.76%
- 6M
- 9.88%
- 1Y
- 26.00%
- 3Y*
- 18.26%
- 5Y*
- 12.50%
- 10Y*
- —
SMT.L vs. LGGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SMT.L Scottish Mortgage Investment Trust plc | 18.50% | 24.72% | 18.75% | 12.46% | -45.71% | 10.46% | 110.49% | 24.76% | -4.77% |
LGGG.L L&G Global Equity UCITS ETF | 9.76% | 12.92% | 21.13% | 18.08% | -8.24% | 23.53% | 12.41% | 22.99% | -27.80% |
Correlation
The correlation between SMT.L and LGGG.L is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.70 |
The correlation between SMT.L and LGGG.L has been stable across timeframes, ranging from 0.66 to 0.70 - a consistent structural relationship.
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Return for Risk
SMT.L vs. LGGG.L — Risk / Return Rank
SMT.L
LGGG.L
SMT.L vs. LGGG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Scottish Mortgage Investment Trust plc (SMT.L) and L&G Global Equity UCITS ETF (LGGG.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SMT.L | LGGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.47 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 3.88 | -0.82 |
| Martin ratioReturn relative to average drawdown | 9.45 | 15.16 | -5.72 |
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Drawdowns
SMT.L vs. LGGG.L - Drawdown Comparison
The maximum SMT.L drawdown since its inception was -60.25%, which is greater than LGGG.L's maximum drawdown of -30.19%. Use the drawdown chart below to compare losses from any high point for SMT.L and LGGG.L.
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Drawdown Indicators
| SMT.L | LGGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.25% | -30.19% | -30.06% |
Max Drawdown (1Y)Largest decline over 1 year | -12.26% | -6.67% | -5.59% |
Max Drawdown (3Y)Largest decline over 3 years | -28.05% | -19.95% | -8.10% |
Max Drawdown (5Y)Largest decline over 5 years | -60.11% | -19.95% | -40.16% |
Max Drawdown (10Y)Largest decline over 10 years | -60.11% | — | — |
Current DrawdownCurrent decline from peak | -9.03% | -1.27% | -7.76% |
Average DrawdownAverage peak-to-trough decline | -14.80% | -7.18% | -7.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.98% | 1.71% | +2.27% |
Volatility
SMT.L vs. LGGG.L - Volatility Comparison
Scottish Mortgage Investment Trust plc (SMT.L) has a higher volatility of 6.83% compared to L&G Global Equity UCITS ETF (LGGG.L) at 3.20%. This indicates that SMT.L's price experiences larger fluctuations and is considered to be riskier than LGGG.L 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 | LGGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.83% | 3.20% | +3.63% |
Volatility (6M)Calculated over the trailing 6-month period | 16.79% | 7.79% | +9.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.86% | 10.47% | +10.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.76% | 19.12% | +10.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.79% | 20.36% | +8.43% |
SMT.L vs. LGGG.L - Expense Ratio Comparison
SMT.L has a 0.31% expense ratio, which is higher than LGGG.L's 0.10% expense ratio.
Dividends
SMT.L vs. LGGG.L - Dividend Comparison
SMT.L's dividend yield for the trailing twelve months is around 0.33%, while LGGG.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LGGG.L L&G Global Equity UCITS ETF | 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 | 0.33% | 0.37% | 0.44% | 0.51% | 0.51% | 0.26% | 0.27% | 0.54% | 0.66% | 0.67% | 0.93% | 1.17% |
Frequently Asked Questions
SMT.L and LGGG.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LGGG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGGG.L is cheaper with a 0.10% expense ratio, compared with 0.31% for SMT.L.
They also come from different issuers: Baillie Gifford Funds and Legal & General. Their fees differ too: 0.31% for SMT.L and 0.10% for LGGG.L.
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