STRC vs. SPAXX

Last updated Jun 23, 2026

STRC (Strategy Inc Variable Rate Series A Perpetual Stretch Preferred Stock) is a stock, while SPAXX (Fidelity Government Money Market Fund) is Money Market fund actively managed by Fidelity. At a 0.05 correlation, their price movements are largely independent.

Performance

STRC vs. SPAXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategy Inc 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.

Returns By Period

In the year-to-date period, STRC achieves a -3.81% return, which is significantly lower than SPAXX's 1.37% return.

STRC

• 1D: 0.23%
• 1M: -8.74%
• YTD: -3.81%
• 6M: -3.95%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPAXX

• 1D: 0.00%
• 1M: 0.28%
• YTD: 1.37%
• 6M: 1.67%
• 1Y: 3.66%
• 3Y*: 2.42%
• 5Y*: 1.45%
• 10Y*: —

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

STRC vs. SPAXX - Yearly Performance Comparison

	2026 (YTD)	2025
STRC Strategy Inc Variable Rate Series A Perpetual Stretch Preferred Stock	-3.81%	10.08%
SPAXX Fidelity Government Money Market Fund	1.37%	1.93%

Correlation

The correlation between STRC and SPAXX is 0.05, 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 Jul 30, 2025	0.05

Return for Risk

STRC vs. SPAXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategy Inc 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.

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.

	STRC	SPAXX	Difference
Sharpe ratio: Return per unit of total volatility	—	3.65	—
Sortino ratio: Return per unit of downside risk	—	—	—
Omega ratio: Gain probability vs. loss probability	—	—	—
Calmar ratio: Return relative to maximum drawdown	—	—	—
Martin ratio: Return relative to average drawdown	—	—	—

Drawdowns

STRC vs. SPAXX - Drawdown Comparison

The maximum STRC drawdown since its inception was -9.10%, 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	-9.10%	0.00%	-9.10%
Max Drawdown (1Y) Largest decline over 1 year	—	0.00%	—
Max Drawdown (3Y) Largest decline over 3 years	—	0.00%	—
Max Drawdown (5Y) Largest decline over 5 years	—	0.00%	—
Current Drawdown Current decline from peak	-8.89%	0.00%	-8.89%
Average Drawdown Average peak-to-trough decline	-0.78%	0.00%	-0.78%
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	—	0.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.66%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.31%	1.03%	+13.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.31%	0.69%	+13.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.31%	0.69%	+13.62%

Dividends

STRC vs. SPAXX - Dividend Comparison

STRC's dividend yield for the trailing twelve months is around 12.28%, more than SPAXX's 3.59% yield.

Position	TTM	2025	2024	2023
SPAXX Fidelity Government Money Market Fund	3.59%	3.88%	1.53%	0.41%
STRC Strategy Inc Variable Rate Series A Perpetual Stretch Preferred Stock	12.28%	4.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both STRC and SPAXX in my portfolio?

STRC and SPAXX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.