SMT.L vs. STRD

Last updated Jun 13, 2026

SMT.L (Scottish Mortgage Investment Trust plc) is Global Equities fund actively managed by Baillie Gifford Funds, while STRD (MicroStrategy Incorporated) is a stock. At a correlation of -0.02, they often move in opposite directions.

Performance

SMT.L vs. STRD - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

SMT.L

• 1D: 1.68%
• 1M: 0.98%
• YTD: 22.52%
• 6M: 28.14%
• 1Y: 47.00%
• 3Y*: 29.01%
• 5Y*: 3.60%
• 10Y*: 19.99%

STRD

• 1D: 0.66%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SMT.L vs. STRD - Yearly Performance Comparison

	2026 (YTD)
SMT.L Scottish Mortgage Investment Trust plc	-4.09%
STRD MicroStrategy Incorporated	-1.76%

Correlation

The correlation between SMT.L and STRD is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	-0.02

Return for Risk

SMT.L vs. STRD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SMT.L

SMT.L Risk / Return Rank: 78
SMT.L Sharpe Ratio Rank: 79
SMT.L Sortino Ratio Rank: 82
SMT.L Omega Ratio Rank: 77
SMT.L Calmar Ratio Rank: 80
SMT.L Martin Ratio Rank: 73

STRD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

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

This table presents a comparison of risk-adjusted performance metrics for Scottish Mortgage Investment Trust plc (SMT.L) and MicroStrategy Incorporated (STRD). 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	STRD	Difference
Sharpe ratio: Return per unit of total volatility	2.21	—	—
Sortino ratio: Return per unit of downside risk	3.19	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	3.70	—	—
Martin ratio: Return relative to average drawdown	12.02	—	—

Drawdowns

SMT.L vs. STRD - Drawdown Comparison

The maximum SMT.L drawdown since its inception was -60.25%, which is greater than STRD's maximum drawdown of -6.52%. Use the drawdown chart below to compare losses from any high point for SMT.L and STRD.

Drawdown Indicators

	SMT.L	STRD	Difference
Max Drawdown Largest peak-to-trough decline	-60.25%	-6.52%	-53.73%
Max Drawdown (1Y) Largest decline over 1 year	-12.26%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-60.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-60.11%	—	—
Current Drawdown Current decline from peak	-5.95%	-1.76%	-4.19%
Average Drawdown Average peak-to-trough decline	-14.79%	-4.09%	-10.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	—	—

Volatility

Volatility by Period

	SMT.L	STRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.52%	31.81%	-11.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.72%	31.81%	-2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.77%	31.81%	-3.04%

Dividends

SMT.L vs. STRD - Dividend Comparison

SMT.L's dividend yield for the trailing twelve months is around 0.32%, while STRD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMT.L Scottish Mortgage Investment Trust plc	0.32%	0.37%	0.44%	0.51%	0.51%	0.26%	0.27%	0.54%	0.66%	0.67%	0.93%	1.17%
STRD MicroStrategy Incorporated	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMT.L and STRD in my portfolio?

SMT.L and STRD have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.