SMT.L vs. VHYD.L
SMT.L (Scottish Mortgage Investment Trust plc) and VHYD.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) are both Global Equities funds. SMT.L is actively managed, while VHYD.L is passively managed. Over the past 10 years, SMT.L returned 19.70%/yr vs 10.72%/yr for VHYD.L. A 0.55 correlation means they provide meaningful diversification when combined. SMT.L charges 0.31%/yr vs 0.29%/yr for VHYD.L.
Performance
SMT.L vs. VHYD.L - Performance Comparison
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Different Trading Currencies
SMT.L is traded in GBp, while VHYD.L is traded in USD. To make them comparable, the VHYD.L 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 27.32% return, which is significantly higher than VHYD.L's 11.67% return. Over the past 10 years, SMT.L has outperformed VHYD.L with an annualized return of 19.70%, while VHYD.L has yielded a comparatively lower 10.72% annualized return.
SMT.L
- 1D
- -1.53%
- 1M
- 5.30%
- YTD
- 27.32%
- 6M
- 42.05%
- 1Y
- 51.19%
- 3Y*
- 30.43%
- 5Y*
- 4.67%
- 10Y*
- 19.70%
VHYD.L
- 1D
- 0.23%
- 1M
- 3.58%
- YTD
- 11.67%
- 6M
- 13.01%
- 1Y
- 28.35%
- 3Y*
- 15.99%
- 5Y*
- 11.62%
- 10Y*
- 10.72%
SMT.L vs. VHYD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMT.L Scottish Mortgage Investment Trust plc | 27.32% | 24.72% | 18.75% | 12.46% | -45.71% | 10.46% | 110.49% | 24.76% | 4.64% | 41.09% |
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing | 11.67% | 17.98% | 11.24% | 5.84% | 5.80% | 18.96% | -3.24% | 16.16% | -6.47% | 9.00% |
Correlation
The correlation between SMT.L and VHYD.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 30, 2013 | 0.55 |
The correlation between SMT.L and VHYD.L shifts across timeframes, from 0.42 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMT.L vs. VHYD.L — Risk / Return Rank
SMT.L
VHYD.L
SMT.L vs. VHYD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Scottish Mortgage Investment Trust plc (SMT.L) and Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.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.
| SMT.L | VHYD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.54 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.16 | 4.08 | +0.07 |
| Martin ratioReturn relative to average drawdown | 14.08 | 15.08 | -1.00 |
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 | VHYD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 2.82 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.95 | -0.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.73 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.65 | -0.09 |
Drawdowns
SMT.L vs. VHYD.L - Drawdown Comparison
The maximum SMT.L drawdown since its inception was -62.61%, which is greater than VHYD.L's maximum drawdown of -29.43%. Use the drawdown chart below to compare losses from any high point for SMT.L and VHYD.L.
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Drawdown Indicators
| SMT.L | VHYD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.61% | -29.43% | -33.18% |
Max Drawdown (1Y)Largest decline over 1 year | -12.26% | -6.91% | -5.35% |
Max Drawdown (3Y)Largest decline over 3 years | -28.05% | -12.99% | -15.06% |
Max Drawdown (5Y)Largest decline over 5 years | -60.11% | -12.99% | -47.12% |
Max Drawdown (10Y)Largest decline over 10 years | -60.11% | -29.43% | -30.68% |
Current DrawdownCurrent decline from peak | -2.27% | 0.00% | -2.27% |
Average DrawdownAverage peak-to-trough decline | -16.03% | -3.71% | -12.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 1.87% | +1.75% |
Volatility
SMT.L vs. VHYD.L - Volatility Comparison
Scottish Mortgage Investment Trust plc (SMT.L) has a higher volatility of 4.49% compared to Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L) at 2.87%. This indicates that SMT.L's price experiences larger fluctuations and is considered to be riskier than VHYD.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 | VHYD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 2.87% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 8.20% | +7.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.11% | 10.01% | +10.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.68% | 12.24% | +17.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.76% | 14.79% | +13.97% |
SMT.L vs. VHYD.L - Expense Ratio Comparison
SMT.L has a 0.31% expense ratio, which is higher than VHYD.L's 0.29% expense ratio.
Dividends
SMT.L vs. VHYD.L - Dividend Comparison
SMT.L's dividend yield for the trailing twelve months is around 0.29%, less than VHYD.L's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMT.L Scottish Mortgage Investment Trust plc | 0.29% | 0.37% | 0.44% | 0.51% | 0.51% | 0.26% | 0.27% | 0.54% | 0.66% | 0.67% | 0.93% | 1.05% |
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing | 2.48% | 2.77% | 3.15% | 3.31% | 3.72% | 3.14% | 2.90% | 3.23% | 3.77% | 2.96% | 3.16% | 3.32% |
Frequently Asked Questions
SMT.L and VHYD.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VHYD.L is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VHYD.L is cheaper with a 0.29% expense ratio, compared with 0.31% for SMT.L.
They also come from different issuers: Baillie Gifford Funds and Vanguard. Their fees differ too: 0.31% for SMT.L and 0.29% for VHYD.L.
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