STRC vs. SPAXX

Last updated Apr 1, 2026

Compare and contrast key facts about MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) and Fidelity Government Money Market Fund (SPAXX).

SPAXX is managed by Fidelity. It was launched on Feb 5, 1990.

Performance

STRC vs. SPAXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) and Fidelity Government Money Market Fund (SPAXX). The values are adjusted to include any dividend payments, if applicable.

STRC vs. SPAXX - Yearly Performance Comparison

	2026 (YTD)	2025
STRC MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock	4.14%	9.19%
SPAXX Fidelity Government Money Market Fund	0.53%	1.93%

Returns By Period

In the year-to-date period, STRC achieves a 4.14% return, which is significantly higher than SPAXX's 0.53% return.

STRC

• 1D: 0.06%
• 1M: 0.99%
• YTD: 4.14%
• 6M: 8.87%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPAXX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.53%
• 6M: 1.46%
• 1Y: 3.49%
• 3Y*: 2.14%
• 5Y*: —
• 10Y*: —

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

Return for Risk

STRC vs. SPAXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) and Fidelity Government Money Market Fund (SPAXX). 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.

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

Sharpe Ratios by Period

	STRC	SPAXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	2.01	-0.43

Correlation

The correlation between STRC and SPAXX is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

STRC vs. SPAXX - Dividend Comparison

STRC's dividend yield for the trailing twelve months is around 7.07%, more than SPAXX's 3.42% yield.

	TTM	2025	2024	2023
STRC MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock	7.07%	4.31%	0.00%	0.00%
SPAXX Fidelity Government Money Market Fund	3.42%	3.88%	1.53%	0.41%

Drawdowns

STRC vs. SPAXX - Drawdown Comparison

The maximum STRC drawdown since its inception was -6.39%, which is greater than SPAXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for STRC and SPAXX.

Drawdown Indicators

	STRC	SPAXX	Difference
Max Drawdown Largest peak-to-trough decline	-6.39%	0.00%	-6.39%
Max Drawdown (1Y) Largest decline over 1 year	—	0.00%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.60%	0.00%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	STRC	SPAXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.46%	1.08%	+12.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.46%	0.67%	+12.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.46%	0.67%	+12.79%