SMT.L vs. VWRA.L
SMT.L (Scottish Mortgage Investment Trust plc) and VWRA.L (Vanguard FTSE All-World UCITS ETF USD Accumulating) are both Global Equities funds. SMT.L is actively managed, while VWRA.L is passively managed. Over the past 5 years, SMT.L returned 4.67%/yr vs 12.46%/yr for VWRA.L. A 0.71 correlation means they provide meaningful diversification when combined. SMT.L charges 0.31%/yr vs 0.22%/yr for VWRA.L.
Performance
SMT.L vs. VWRA.L - Performance Comparison
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Different Trading Currencies
SMT.L is traded in GBp, while VWRA.L is traded in USD. To make them comparable, the VWRA.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 VWRA.L's 12.10% 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%
VWRA.L
- 1D
- 0.00%
- 1M
- 5.28%
- YTD
- 12.10%
- 6M
- 12.31%
- 1Y
- 29.98%
- 3Y*
- 18.07%
- 5Y*
- 12.46%
- 10Y*
- —
SMT.L vs. VWRA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SMT.L Scottish Mortgage Investment Trust plc | 27.32% | 24.72% | 18.75% | 12.46% | -45.71% | 10.46% | 110.49% | 4.79% |
VWRA.L Vanguard FTSE All-World UCITS ETF USD Accumulating | 12.05% | 13.73% | 19.70% | 16.17% | -8.37% | 19.58% | 12.78% | 0.12% |
Correlation
The correlation between SMT.L and VWRA.L is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2019 | 0.71 |
The correlation between SMT.L and VWRA.L has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
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Return for Risk
SMT.L vs. VWRA.L — Risk / Return Rank
SMT.L
VWRA.L
SMT.L vs. VWRA.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 UCITS ETF USD Accumulating (VWRA.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 | VWRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.48 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.16 | 4.30 | -0.15 |
| Martin ratioReturn relative to average drawdown | 14.08 | 16.58 | -2.49 |
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 | VWRA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 2.52 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.89 | -0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.76 | -0.20 |
Drawdowns
SMT.L vs. VWRA.L - Drawdown Comparison
The maximum SMT.L drawdown since its inception was -62.61%, which is greater than VWRA.L's maximum drawdown of -25.64%. Use the drawdown chart below to compare losses from any high point for SMT.L and VWRA.L.
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Drawdown Indicators
| SMT.L | VWRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.61% | -25.64% | -36.97% |
Max Drawdown (1Y)Largest decline over 1 year | -12.26% | -6.93% | -5.33% |
Max Drawdown (3Y)Largest decline over 3 years | -28.05% | -18.10% | -9.95% |
Max Drawdown (5Y)Largest decline over 5 years | -60.11% | -18.10% | -42.01% |
Max Drawdown (10Y)Largest decline over 10 years | -60.11% | — | — |
Current DrawdownCurrent decline from peak | -2.27% | -0.40% | -1.87% |
Average DrawdownAverage peak-to-trough decline | -16.03% | -3.46% | -12.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 1.80% | +1.82% |
Volatility
SMT.L vs. VWRA.L - Volatility Comparison
Scottish Mortgage Investment Trust plc (SMT.L) has a higher volatility of 4.49% compared to Vanguard FTSE All-World UCITS ETF USD Accumulating (VWRA.L) at 3.77%. This indicates that SMT.L's price experiences larger fluctuations and is considered to be riskier than VWRA.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 | VWRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 3.77% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 9.25% | +6.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.11% | 11.83% | +8.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.68% | 14.06% | +15.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.76% | 16.05% | +12.71% |
SMT.L vs. VWRA.L - Expense Ratio Comparison
SMT.L has a 0.31% expense ratio, which is higher than VWRA.L's 0.22% expense ratio.
Dividends
SMT.L vs. VWRA.L - Dividend Comparison
SMT.L's dividend yield for the trailing twelve months is around 0.29%, while VWRA.L 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 | 0.29% | 0.37% | 0.44% | 0.51% | 0.51% | 0.26% | 0.27% | 0.54% | 0.66% | 0.67% | 0.93% | 1.05% |
VWRA.L Vanguard FTSE All-World UCITS ETF USD Accumulating | 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
SMT.L and VWRA.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWRA.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWRA.L is cheaper with a 0.22% 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 0.22% for VWRA.L.
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